#AIonPoint: How the Food Tech Revolution is transforming dining experiences

The global food landscape is undergoing significant change, driven by a convergence of factors including health consciousness, ethical concerns, and environmental awareness. This shift is particularly evident in the growing market for alternative proteins – a category including plant-based options, lab-grown meat, and other novel food technologies (2, 5, 10). Let’s explore these trends in more detail and share strategies that your business can use to stay ahead of evolving consumer preferences in the delicious world of food. 

The Rise of Alternative Proteins 

The global food system is facing unprecedented challenges. A growing population, concerns about environmental sustainability, and ethical considerations surrounding animal welfare to name a few. Alternative proteins have emerged as a noteworthy potential solution to a lot of these issues (12). Government funding for alternative protein research has seen a global surge, reaching $1.67 billion as of 2023 (19). This financial support, coupled with increasing consumer demand, makes this sector one worth watching closely (17, 19).

Plant-based meat market growth

Plant-based proteins, derived from sources like soy, legumes, and grains, offer a readily available and increasingly popular alternative to animal-based products (2) and are growing in popularity. The plant-based protein market is projected to reach USD 20.5 billion by 2029, at a CAGR of 7.5% (2). This surge is fueled in part as consumers perceive plant-based proteins as healthier alternatives due to their lower saturated fat and higher fiber content (7). However, nutritional considerations regarding potential micronutrient deficiencies and the ultra-processed nature of some products need to be addressed before the category reaches widespread adoption (7). 

Lab-grown meat market growth

Lab-grown meat, also known as cultivated meat, involves cultivating animal cells in a nutrient-rich broth, eliminating the need to raise or slaughter animals (11). While still in development, the technique holds promise for reducing the environmental impact of meat production, addressing animal welfare concerns, and enhancing food security (11). However, several challenges need to be addressed before it becomes a mainstream option.

Currently lab-grown meat remains significantly more expensive than animal-based meat, hindering its affordability and accessibility (16, 17). This cost is reducing however, with projections indicating price parity by 2030 (9). While interest in lab-grown meat is growing, particularly among younger generations, concerns about taste, safety, and the "unnatural" nature of the product persist (3, 12, 14, 15). The regulatory framework surrounding lab-grown meat is still evolving alongside the rapidly developing technology, with varying approaches creating uncertainty for both producers and consumers (11). 

Influence on dining in and out of home 

The adoption of alternative proteins is reshaping both in-home and out-of-home dining experiences (2, 3). 

In-Home Dining 

The COVID-19 pandemic accelerated the trend of home cooking, with consumers seeking comfort and control over their food choices (13). Online platforms now play a significant role in meal planning, and the increasing availability of plant-based, lab-grown, and dairy alternatives makes it easier for consumers to incorporate these options into their meals (13, 18). 

Out-of-Home Dining 

Restaurants are responding to growing consumer demand by adding meat alternatives to their menus (18). While lab-grown meat is not yet mainstream, regulatory approvals in some regions pave the way for its future inclusion (15). Developing flavorful and versatile plant-based products that closely mimic the taste and texture of meat is crucial for wider adoption (12).

Strategies for Brands 

To stay ahead in this dynamic market, brands need to adapt strategically:   

1. Prioritize sustainability

• Consumers increasingly demand environmentally friendly and ethical food choices. Food tech companies are responding by reducing reliance on resource-intensive livestock farming, lowering greenhouse gas emissions, and minimizing waste (12, 17, 20). 

2. Stay ahead of ethical concerns

• Lab-grown meat significantly reduces animal suffering compared to factory farming. However, ongoing dialogue and the development of ethical frameworks are necessary as the technology evolves. Staying informed and participating in open conversations will be critical (13). 

3. Champion health and nutrition

• While alternative proteins are perceived as healthy, concerns about nutritional value, processing methods, and long-term health effects persist (13, 16). Educating consumers about the nutritional benefits of these proteins and addressing skepticism will be vital for driving adoption (7).  

The world of food technology is changing rapidly. Is your brand ready to serve the dinner of tomorrow?

Download the full Virtual Audiences report on Food Technology here.  

Each post in #AIonPoint: Market Insights for Brands explores the trends and consumer behaviors shaping your industry. From retail and CPG to tech, we’re uncovering what truly drives markets, all powered by our synthetic data solution that’s fast, accurate, and always on point. Stay tuned for more insights and trends as Yabble AI decodes consumer behavior, helping brands thrive in an ever-changing landscape.  

Sources  
2. https://www.marketsandmarkets.com/  
3. https://pmc.ncbi.nlm.nih.gov/ Page 2 / 7  
5. https://www.marketresearchfuture.com/  
7. https://www.visionofhumanity.org/  
9. https://ourworldindata.org/  
10. https://gfi.org/  
11. https://nationalaglawcenter.org/  
12. https://www.nature.com/  
13. https://www.foodmanufacturing.com/  
14. https://pro.morningconsult.com/  
15. https://apnorc.org/  
16. https://www.cnn.com/  
17. https://nationalchickencouncil.org/  
18. https://plantbasedfoods.org/  
19. https://gfieurope.org/