This post is by Iman Ghosh from Visual Capitalist
5 Opportunities for Innovation in the Plant-Based Food Market
From an increasing number of people claiming to be flexitarian to more alternatives product options hitting the shelves, the popularity of plant-based food has been skyrocketing—resulting in a consumer base that is far bigger than just vegetarians and vegans.
What’s more, plant-based meat has been called the “best climate investment” of late. It’s no wonder that the plant-based food market is flourishing—and it’s set to grow to $162 billion by 2030.
But to meet high demand, more innovation is needed to scale up and achieve these estimates. This infographic from the Very Good Food Company (VGFC) looks at five opportunities for innovation that could reshape the plant-based food industry.
#1: Protein Sourcing
Do you know where your protein comes from? Among the commercially available plant-based protein ingredients today, a majority are made from just 2% of the 150 plant species that drive the global food supply chain.
Of these, just 12 provide 75% of the world’s plant-based food. These statistics also leave out the 250,000 or more plant species that aren’t utilized in agriculture today—leaving plenty of room for exploration.
Discovering new sources of plant-based proteins could help expand product offerings, potentially boosting taste as well as texture.