You couldn't miss it in "Veganuary" 2024: Increasingly vegan meat, fish and dairy alternatives based on plant-based proteins are entering the market. Supermarket chains and discounters are undercutting each other with knockdown prices. Meatless Monday and Veggie Thursday are intended to ensure regularity in the change of diet. And indeed: not only convinced vegans, but also health and environmentally conscious people who are otherwise not averse to animal products are taking up the offer.
Drivers for strong market growth in plant-based proteins
According to the market study "Global Plant-based Protein Market 2024" published by Meticulous Market Research in February 2024, the market for plant-based proteins is expected to reach a volume of USD 26.45 billion by 2031. This corresponds to an average annual growth rate of 8.4 per cent. In addition to ethical motives (animal welfare, climate protection, social justice/world nutrition), the general trend towards protein-rich diets is one of the drivers. Plant-based protein sources range from soya and wheat to peas, rapeseed, maize, and rice through to beans and lupins.
New food start-ups are followed by established food producers
Relatively young companies such as Like Meat are regarded as pioneers for vegan meat alternatives. In view of the high growth rates, more and more established food manufacturers are now also becoming active in this market. In addition to companies such as Rügenwalder Mühle, Alnatura, Iglo, Friesland Campina (Valess), Nestlé (Garden Gourmet) and Kerry Group, which previously focussed on meat, sausage and dairy products, starch producers such as Crespel & Deiters are also among the winners in Europe. Broad-based companies such as Roquettes and Beneo (Südzucker) supply plant-based proteins not only to the food and beverage sector but also to the pharmaceutical and cosmetics industries. The boom is constantly attracting new start-ups – and is finally even convincing "die-hard" suppliers of animal products such as Tönnies to invest in the veggie market.
Machine builders supply technology and expertise for the protein shift
The favourable growth prospects are bringing technology providers onto the scene. They are particularly called upon to contribute their expertise - in addition to suitable process technology. After all, the young, booming market is associated with numerous new product developments - and often in companies with little or no process engineering expertise in plant-based foods. They need sound support in process development. And numerous machine manufacturers provide this.