Current and Future Market Opportunities for Alternative Proteins in Low- and Middle-Income Countries

Abstract

There is an urgent need for sustainable food systems to address the nutritional requirements of today and tomorrow. Alternative proteins (AP) have the potential to diversify the protein sources available for consumption while aligning with nutritional, environmental, and cultural needs and preferences. Although AP startups and investors focus on high-income countries, there is a growing market opportunity for AP in low- and middle-income countries (LMICs) due to increasing incomes, urbanization, and market expansion. This study aimed to evaluate the market opportunity for AP in LMICs by evaluating current global AP market trends, the factors influencing consumer demand, and the key aspects for enabling the environment for AP. Risks, challenges, and strategies for AP market expansion in LMICs are also discussed. The expansion and adoption of AP in LMICs could present a promising solution to nourish the world’s growing population while mitigating the global food and environmental crises.