The Future of Food in Asia and Alternative Proteins

Proterra Investment Partners The Future of Food in Asia and Alternative Proteins


Proterra Investment Partners

Plant-based alternatives to conventional proteins have grown steadily in popularity in developed economies like North America and Europe over the past decades. The plant-based alternative sector’s growth was led by plant-based milks (e.g., soy, almond, oat, hemp), which has already grown to 14% share of the US retail milk industry. The US plant-based milk market alone was valued at USD 2.0 billion in 2019 and growing as it becomes increasingly available to the mainstream consumer, with foodservice adoption moving from specialty coffee shops to specialty coffee chains (like Starbucks) to mainstream chains (like Dunkin’, which just added oat milk as an option to all US locations in August 2020). 

We believe Asia presents a tremendous opportunity for the sector as the most recent wave of modern alternative proteins that have emerged in the West over the past 5 to 10 years has only just begun to take root.


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