Tapping into Africa’s Novel Protein Global Opportunity

The global novel protein market is projected to grow from USD 20–30 billion in 2024 to an estimated USD 50–100 billion by 2035, with plant-based proteins driving much of this expansion, according to Manufacturing Africa. Their report, "The Opportunity for Alternate Proteins in Sub-Saharan Africa", highlights the global novel alternate protein market is expected to grow from USD ~20-30 in 2024, to USD ~50-100 bn by 2035. Estimates in 2035 varywidely due to differing assumptions on consumer adoption. Due to varying assumptions about consumer adoption, estimates for 2035 vary greatly. The report demonstrates Several global trends, such as shifting consumer preferences, technological advancements, sustained investment, and the entry of players along the value chain, indicate that the market will continue to grow even though it has underperformed historical growth expectations. 

The discussion focused on novel alternative proteins across four technologies which are plant based, fermentation, cultivated and edible insects.  However, meeting this demand would require significant improvements in animal productivity. 

The consumer segment in Sub-Saharan Africa has the most potential, particularly when it comes to the creation of mass-market, reasonably priced protein substitutes.  Local businesses now have a rare chance to produce useful goods that will not only satisfy growing consumer demand but also improve food security and address the region's protein shortage.  In 2035, there will still be a 6 g daily protein deficit despite rising demand.  By preventing malnutrition, lowering possible reliance on imports, enabling affordable protein, and accommodating cultural and dietary customs, novel alternative protein may offer sub-Saharan Africa a special strategic opportunity. 

Cultural preferences for livestock, financial difficulties, a lack of formal retail, and technological limitations in scaling production are some of the obstacles that SSA must overcome despite its potential.  Furthermore, some alternative proteins still don't have the same nutritional value as animal protein, so careful product design and supplementation are needed. 

While they won't completely replace traditional meat and dairy in SSA, alternative proteins can be a vital supplement in bridging the protein gap, boosting resilience, and lessening environmental impact.  The region could transform an impending nutritional crisis into an economic and social opportunity that feeds millions, creates jobs, and contributes to global sustainability with focused investments, supportive regulations, and locally tailored solutions. 

Looking ahead, here are at Oxano, we are optimistic about the sector and we will continue to explore investment opportunities in this sector. If you are working in the novel protein sector, we would love to hear from you.