The Alternative Proteins Council (APC) shared its outlook for the future of the alternative proteins industry in Australia on Day One of foodpro 2023.
On the Product Innovation Stage, APC chair Kirsten Grinter and APC lead Jennifer Thompson were joined by Vow project engineer Jared Bergman, v2food’s Roger Bektash, and Change Foods CEO David Bucca to discuss the innovations being brought to life in the alt protein space.
The APC says the plant-based meat industry in Australia is projected to be a $3 billion opportunity by 2030, with the plant based category as a whole worth $6 billion, and precision fermentation category worth $1.45 billion.
Globally, the plant-based protein market could exceed $US160 billion over the next decade.
Bektash said the efficiency of plant based proteins was ‘enormous’.
“We can’t go on feeding the world on beef, we have to look at alternatives.
“Beef will continue to grow, but we need to grow much more plant protein and protein products as an alternative to beef. That’s where we’re heading and that’s the big benefit of plant-based products.
“If you think about what choices we as consumers can each make to reduce our impact on the climate: if consumers had two plant-based meals per week – they would have a greater positive impact on the environment than using an owning an electric vehicle,” said Bektash.
