Governments and alternative protein players should follow three lessons that jump-started the growth of the electric vehicle industry.
The alternative protein market—which includes plant-based meat, eggs, dairy, and seafood products—is set to reach $290 billion by 2035. This will represent 11% of global protein consumption, and the impact on climate change would be equivalent to decarbonizing 95% of the aviation industry.
Our Approach to the Alternative Proteins Landscape
Our alternative proteins consulting team works across the entire agri-food value chain—partnering with consumer-packaged goods companies, retailers, quick-service restaurants, venture capital and private equity firms, ingredient manufacturers, farmer cooperatives, and startups—to seize the untapped opportunity in alternative proteins.
Food Industry Players
Twenty-five percent of global greenhouse gas emissions is caused by the food value chain, making the shift to alternative proteins one of the most capital-efficient and high-impact solutions available for addressing the climate crisis. We help food companies define forward-thinking alternative proteins strategies, develop and manufacture alternative protein products, advance technology across the alternative proteins value chain, and launch new alternative protein businesses.
Twenty-five percent of global greenhouse gas emissions is caused by the food value chain, making the shift to alternative proteins one of the most capital-efficient and high-impact solutions available for addressing the climate crisis. We help food companies define forward-thinking alternative proteins strategies, develop and manufacture alternative protein products, advance technology across the alternative proteins value chain, and launch new alternative protein businesses.
Investors
The amount of venture capital invested in alternative proteins rose from $1 billion in 2019 to $5 billion in 2021. And VC investment in fermentation-based alternative protein and animal-cell-based meat companies— two newer alternative protein technologies— is soaring. We help investors scan the alternative proteins landscape so that they can direct capital toward transformative ventures and become integral players in the future of sustainable food systems.
The amount of venture capital invested in alternative proteins rose from $1 billion in 2019 to $5 billion in 2021. And VC investment in fermentation-based alternative protein and animal-cell-based meat companies— two newer alternative protein technologies— is soaring. We help investors scan the alternative proteins landscape so that they can direct capital toward transformative ventures and become integral players in the future of sustainable food systems.
Our Clients’ Success in Alternative Proteins
A North American food retailer wanted to enter the alternative protein market. Using our
customer demand strategy, BCG enabled the client to size the market opportunity, understand what it takes to win with consumers, and develop a portfolio of plant-based meat products that is best positioned to succeed.
A global investment firm was looking to invest in an ingredient manufacturer, producing precision fermented proteins to both alternative meat and alternative dairy brands. BCG did a commercial
due diligence to assess the market attractiveness and evaluated management top-line forecasts and the differentiation of the target company’s fermentation capability.
In preparation for its
IPO, a producer of plant-based meat substitutes needed a comprehensive market assessment for six of its products. BCG created a detailed market assessment, identified missed opportunities across the alternative protein product portfolio (including opportunities to
reduce product costs and improve sustainable sourcing), and established the company’s optimal go-to-market strategy.
Our Insights and Advice on Alternative Proteins
Article
July 11, 2024
Video
October 24, 2022
Alternative Proteins Can Contribute to a More Sustainable Food System
More emissions are prevented per dollar invested into alternative (or non-animal) proteins than in any sector—three times greater than investing in transportation or buildings.
Article
February 27, 2024
Demand is solidifying for products that use biological processes in place of traditional production methods. But for change to happen, costs must come down.
Article
February 22, 2023
Alternative dairy products have appealed to mainstream consumers more successfully than alternative meats have. Here’s how companies of both kinds can step up their marketing.
Article
July 8, 2022
Our latest research shows that consumers are embracing alternative proteins and that protein transformation is one of the best tools available to combat the climate crisis.
Article
August 4, 2022
The environmental, economic, and health benefits of meat grown from animal cells are clear. Cost and taste parity are on the horizon. What will it take to scale up cultivated meat in the UK?
Meet Our Alternative Proteins Consulting and Advisory Team
BCG’s alternative proteins consulting team has deep expertise in alternative protein technology, alternative protein investments, fermentation-based alternative protein, the agri-food value chain, and more. Here are some of our experts on the topic.
