An already stressed global food supply chain could see further disruption as a result of Russia invading Ukraine. Several food and beverage manufacturers, including Mondelez, Coca-Cola, Carlsberg, Nestle and Archer Daniels Midland Company have temporarily shut down their facilities in Ukraine in an effort to prioritize employee safety. The Wall Street Journal reported that an ocean vessel chartered by Cargill, Inc. was hit by a projectile off the Ukraine coast.
The conflict has caused a halt in commercial vessels and port closures, which will affect grain and wheat exports. As a result, food products such as cereal, bread and beer containing wheat, corn, oats, barley and rye could see a spike in prices.
On a global scale, the industry will need to manage challenges with increased costs, delivery delays and food insecurity, as the availability of commodities exported by Ukraine and Russia could be significantly impacted for months to come.
The popularity of plant-based protein powders has skyrocketed, and so has fraudulent activity with so-called protein boosting adulterants. Examples are a variety of beans, such as fava beans, as well as wheat, maize, alfalfa and more. Due to the rapid innovation and development of novelty supplements, regulatory standards are in urgent need of overhaul. Correct ingredient investigation in commercial plant-based protein powders is therefore a must and was investigated in this study with three different diagnostic tools.
According to a new report by Global Market Insights, the plant-based meat market, which is currently valued above $150 million, is expected to be worth more than $320 million by 2025. Increased consumer demand for meat alternatives can be attributed to a variety of factors: More awareness of environmental hazards linked to killing animals, animal rights issues, as well as a desire for more vegetarian-based diets due to health concerns.
On a nutritional front, the report also notes: “Plant based meat products are incomplete protein source and lack vitamin B12 which may hinder market growth. Manufacturers are researching to enhance the nutritional profile of plant based meat products by mixing high protein food sources such as quinoa which may fuel product demand.”
Specific sectors that are expected to grow are the following:
Pea-based meat: 10.5% CAGR from 2019 to 2025
Wheat-based meat: Increase to more than $40 million by 2025
Beef wheat-based meat: Expected to grow about 10% by 2025
Chicken soy-based meat (currently valued at $70 million in 2018)
Regionally, plant-based meat is anticipated to grow 10% by 2025 in North America, with the report pointing to more awareness of the risks associated with contaminated as well as adulterated meat. In Europe, the value of the market is expected to exceed $55 million by 2025.
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