| | NOVEMBER 2022 8OPINIONIN MYALTERNATIVE PROTEINS: DOES THE CURRENT NOVEL FOOD HAVE THE POTENTIAL TO BECOME THE FUTURE OF FOOD?By Neeti Virmani, Venture Partner, Loyal VCClimate change is a reality. While on one hand, it is important to raise a concern and debate about it, it is even more important to take an action on it. As climate change threatens the planet, it's important for us to save the animals. Research has proven that rising temperatures could reduce the efficiency of food chains and threaten the survival of larger animals. The trends prove that the sensitivity towards switching from non-vegetarian diet to either vegetarian diet or vegan diet, is increasing. Each month we come across a new study supporting that changing diet could add up to a decade to the life expectancy. While some studies say that the millennials are driving the shift, few countries, traditionally, had vegetarian food in their diet, predominantly. Protein based food options are usually less, in a vegetarian or vegan diet. Irrespective of the increased appetite for traditional protein in developing markets in recent years or meat as the main source of protein in the developed markets, changing consumer behaviour and interest in alternative protein sources, due to health and environmental concerns as well as animal welfare, have led to an increase in the growth of the alternative proteins market. Consumer interest in the non-meat based protein is increasing globally. According to Korea International Trade Association, plant-based meat will be more in demand than animal meat by 2040, a fairly significant trend in a country hungry for meat, especially pork and beef. Based on Statista, the average South Korean consumes 126.2 grams daily, and pork is their preferred animal.Neeti Virmani
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