Experts at The Good Food Institute Brasil (GFI Brasil) argue that the country’s alternative protein market will experience a significant transformation in 2024 driven by technological innovations, changes in consumption patterns, and a growing awareness of health and the environment.
After analyzing the sector’s current trends, they forecast the driving forces that could make alternative options more accessible and appealing to a broader audience.
Product variety and strategic partnerships
The experts say one of the most notable predictions for the future of the alternative protein market is the increase in product variety.
Consumers can expect a broader range of plant-based options that cater to various meal times and preferences, from healthier choices to more indulgent alternatives. This diversification aims to make plant-based foods more accessible and appealing to a broader audience, ultimately driving mass consumer adoption.
Moreover, strategic partnerships and market consolidation are expected to play a crucial role in expanding the presence of plant-based options in restaurants and retail outlets.
Collaborations between food companies and eateries can enhance accessibility and visibility, while brand consolidation will prioritize products that closely match consumer preferences regarding taste, texture, and appearance, argues GFI Brasil.
Technological solutions and a ‘focus on health’
Technological advancements were identified as another key driver of innovation in the sector. According to the experts, ongoing developments in ingredients and processing techniques are set to improve the sensory performance of plant-based products, providing consumers with more satisfying consumption experiences. In particular, fermentation processes are anticipated to gain traction for enhancing the nutritional and sensory profiles of products.
Health will remain a focal point for companies, emphasizing formulations that address consumer concerns about cholesterol, sodium, and fat content. As demand for healthier options grows, natural ingredients familiar to consumers will become increasingly common, aligning plant-based products with health and well-being expectations.
Price
Price was identified as a central consideration for the industry, with efforts underway to make plant-based products more affordable. GFI Brasil argues that investments in local supply chains, new ingredients, and cost-effective production methods are essential for bridging the price gap between plant-based and animal products, making them a viable choice for a wider consumer base.
Novel foods in Brazil
Additionally, developments in cultivated meat and fermentation technologies are poised to shape the future of the country’s alternative protein sector.
GFI Brasil explains the regulatory body Anvisa is paving the way for the approval and commercialization of novel foods with a recent resolution (839) that guides companies on submitting products and ingredients for safety verification and authorization.
With approval measures in place, companies are expected to showcase their prototypes in tastings and product application events to engage with stakeholders and drive acceptance and adoption of these new technologies. Following approval, the Ministry of Agriculture will regulate product registration, labeling, and inspection of production units.
Challenges
While the outlook for the alternative protein market in Brazil appears promising, significant challenges remain. According to GFI Brasil, companies in the sector must navigate key hurdles such as winning over more consumers, addressing pricing disparities, and advancing regulatory frameworks. Regulatory advancements, including plant-based product labeling, are critical for ensuring a standardized and transparent marketplace.
Raquel Casselli, Director of Corporate Engagement at GFI Brasil, comments: “The regulatory advancements achieved at the end of 2023 demonstrate that Brazil is aligning with the rest of the world in understanding that this sector will evolve rapidly and that strict technical standards are needed for innovative products to start being produced in the country.
“This is also the year when products made with fermentation and cultivated meat technologies should reach the consumer. Let’s see how these foods will be incorporated into the eating habits of Brazilians.”
