Sometimes a picture tells a thousand words.
NewProtein.org, which is run by Olivia Fox Cabane, has been creating these market maps for a few years, and just like those of our friend Brita Rosenheim (see Brita’s food tech market map from last year), they are amazingly detailed and help you to get an idea of the scope of this fast-growing industry.
One good way to see just how fast the category is expanding is to compare this version (1.6) to the previous one published just a couple months ago (1.5). Since that last edition Fox Cabane’s team has added algae, amaranth, barley, chickpea, microflora and pumpkin to name a few to alt-milks. Also, the oat milk category has exploded from around 40 to over 50 milks alone!
And it’s not just milk. The map details cheeses by type — wheels, blocks and wedges, sliced, shredded & grated and spreads — and breaks down down alt-butters, creamers, yogurts and frozen desserts.
One concern I had early in the pandemic was what its potential impact could be on alternative, plant-based food; the continued investment in the category has laid any potential concerns to rest. Yesterday morning we heard of another investment in cauliflower cheese startup Grounded Foods and today Oatly announced a monster $200 million round. This type of investment has been repeated over and over in the past few months and, as this up to date market map shows, the space continues to grow at an astounding pace.