The market for alternative meat, eggs, dairy and seafood products is set to reach at least $290 billion by 2035, as consumers drive unparalleled growth in plant-, microorganism-, and animal-cell-based alternatives, according to a new report by Boston Consulting Group (BCG) and Blue Horizon Corporation (BHC), Report informs.
The report, titled Food for Thought: The Protein Transformation, reveals that the market for alternative proteins will grow from the current 13 million metric tons a year to 97 million metric tons by 2035, when it will make up 11 percent of the overall protein market in our base case scenario.
Faster technological innovation and full regulatory support could speed growth to 22 percent of the market by 2035. At that rate, Europe and North America would reach “peak meat” by 2025, and the consumption of animal protein there would actually begin to decline.
The adoption of alternative proteins will have a measurable positive impact on the environment, supporting a number of the UN's Sustainable Development Goals including responsible consumption and production, and zero hunger.
The shift to plant-based meat and eggs alone will save more than 1 gigaton of CO2 equivalent by 2035 - the equivalent of Japan becoming carbon-neutral for an entire year. It will also save 39 billion cubic meters of water, enough to supply the city of London for 40 years.