Which plant proteins will become the new darling of the market?

In order to meet the growing demand of the global population, plant protein production has increased dramatically, and is expected to reach 10 billion by 2050.

 Lux Research recently published a report "Plant Proteins: Present & Future" (Plant Proteins: Present & Future), evaluating 24 crops and their attractiveness as a source of plant protein.

 Lux analyzed the growth factors of these 24 different plant protein-derived crops from three regions: North America, Europe and Asia. Lux identified soybeans, wheat, and rice as the three main crops of vegetable protein, while pea, canola, oat, and chickpea are the "alternative" vegetable protein rookies.

 Lux said that in North America and Europe, soybeans and wheat are the main sources of vegetable protein, but given their wide range of non-food applications and the increasing diversity of vegetable proteins, pea, oat and canola seeds will become increasingly attractive in these regions force. Oats and canola seeds are particularly attractive. Many companies are already expanding the production of pea protein and have invested nearly $ 500 million since 2017 to build factories.

 According to the report, Asia has a monopoly on several crops, so its market position is special. Among them, Asian rice and chickpea production accounted for 90% and 75% of global production, respectively. These two crops have not been widely used as a source of plant-based protein ingredients, but Lux highlights the development potential of these two crops.

 Lux said that the vegetable protein market is currently affected by three factors: the emergence of Beyond Meat and other plant meat brands; the proliferation of new products by large multinational companies such as Tyson; and the trade uncertainty caused by events such as the Sino-US trade war.

Thomas Hayes, a Lux research analyst and lead author of the report, said that as startups and multinational companies begin to focus on plant protein sources other than soybeans, protein sources are diversifying; diversifying protein sources must not only satisfy The growing supply needs of enterprises must also meet regional self-sufficiency to reduce trade risks.

 Looking to the future, Hayes said that technological innovation will play an important role in unlocking the potential of new plant proteins, especially plant protein sources that are reasonably priced, available, and abundant.

 Gene editing or advanced breeding methods will increase the protein content of crops, and innovative extraction methods enable new crops to become a new source of protein isolates and concentrates. Lux also predicts that new processing technologies and raw materials will improve the sensory experience and nutritional properties of plant proteins.