Newswise — 2023: another year of impressive commitments and groundbreaking developments
Only five years ago, public funding for alternative protein R&D was close to zero. Fast forward to 2023 and you see governments around the world investing in alternative proteins for a variety of reasons — to meet national policy goals, make good on their climate commitments, and create good-paying, sustainable jobs to name a few.
As of 2023, all-time public support for the alternative protein ecosystem, for both R&D and commercialization incentives, reached $1.67 billion. Of 2023’s $523 million total, governments announced $190 million for research and development, $162 million for commercialization, and $170 million for initiatives that mixed elements of both.
We are optimistic about the future of government support for alternative proteins. Look closer and you’ll see why.
#1. An appetite for building circular economies and value-added agriculture is growing
Public entities across the globe are stepping up investments to develop the AP sector, including in much-needed infrastructure. The most notable new investments in 2023 came from North America and Europe, with multiple funding packages in the tens of millions of dollars for alternative protein research and commercialization.
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#2. Milestone moments in regulatory pathways represent industry momentum worth celebrating
Ensuring a level, fair playing field for alternative proteins in the global market is essential to delivering the economic, climate, and food security benefits they bring. Luckily, governments around the world are beginning to lean in and momentum is building.
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#3. APs as a solution for global food production resilience is gaining global attention—and global consensus
Large commitments and vocal support from around the world defined progress for APs in 2023. Multilateral organizations continued to invest in APs as a climate and food security solution, touting their positive environmental impacts and the necessity of adapting food systems to a changing climate.
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Unlocking the full potential of alt proteins
Governments are increasing their financial, policy, and regulatory support for alternative proteins but have yet to approach the annual support required to realize alternative proteins’ benefits to the economy, climate, and global food system. To unlock the full potential of alternative proteins, it is estimated that $10 billion per year in global public spending on R&D and commercialization is needed. We need everyone at the table to make that happen.
To entrepreneurs: Governments are funding research and commercialization to support domestic economies, capable workforces, and future technologies. The water is warm. Dive into this emerging and promising industry.
To policymakers: Alternative proteins can create jobs at home, build stronger supply chains, and lower prices for American families. Join researchers, food scientists, and entrepreneurs in building our economy and future green jobs.
To investors: The business case is strong for alternative proteins that taste the same as or better than conventional meat, seafood, eggs, and dairy. Two-thirds of global Gen Z and Millennial consumers expect to consume more plant-based meat, seafood, and dairy products in the future. Momentum is building for delicious food with less environmental harm and now is the time to capitalize on it.
To researchers: Alternative proteins offer some of the most game-changing research opportunities with the potential for global societal impact. This movement needs scientists from a variety of disciplines to jump head-first into alternative proteins.
The next chapter for food and agriculture is being written right now. Yes, innovation can draw skeptics. But thanks to dedicated researchers and industry stakeholders, innovation continues in pursuit of the greater good. APs can reduce pressure on the planet and satisfy the growing global demand for protein at the same time. Let’s elevate this promising solution to another level in 2024 and beyond.
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