Earlier this year, we have seen here that many alternative protein startups (notably cellular agriculture companies) were switching from reporting lab successes to announcing pilot plants for their products. It seems that on all key technology things are moving further:
- Plant-based: if some still have doubts about plant-based being a fad, they should read the piles of reports recently released that provide us with projections on the size of this market in 10 or 15 years. For instance, Bloomberg estimates that plant-based foods will grow from $29B now (mostly dairy alternatives) to $162B in 2030 (mostly meat alternatives, half of it sold in Asia).
- Fermentation: Nature’s Fynd raised $350M to move toward commercialisation
- Cellular agriculture: Because animals, a pet food startup, says its products could be on the shelves as soon as 2022. Pet Food may be the first area where we’ll see cellular agriculture products on the shelves of our supermarkets. First, regulation is much simpler (regulation will be a multi-year issue for human-oriented cellular agriculture products in Europe, the US, and other parts of the world). Second, price sensitivity is not the same.