The alternative protein space has exploded in recent years, with an estimated $60B market, and the plant-based product revolution has moved beyond food and expanded into beauty and clothing. Just over the horizon are cultivated meats and new forms of climate-resistant agriculture, the foods of the future.
To rapidly respond to changing consumer preferences for alternative proteins and plant-based products, the food industry must rapidly reinvent itself to stay relevant. A reinvention mindset, underpinned by a strong digital core, will play a critical role as each company seeks to totally transform themselves in pursuit of driving growth.
We are committed to working with industry leaders, investors, innovators, and academics to bring alternative proteins into the global mainstream – increasing awareness and global adoption of healthier, sustainable meat and dairy alternatives. Implementing these solutions is critical to lessening the environmental impact of our food system.
Over 90 percent of meat consumption must be replaced by 2050 to meet climate goals.
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Reinvention in the food industry is not just limited to the product itself, but also how it reaches the consumer. The demand for online food delivery has seen accelerated growth, with expected revenue growth of over 20% in 2024.
With one third of global Green House Gas (GHG) emissions coming from the food value chain, the need for sustainable and affordable last mile delivery solutions is higher than ever.
Many CPGs have developed initiatives to reduce single-use plastics or replace them with less-carbon intensive alternatives like cardboard or recycled product. However, these materials are not as resilient as plastic and can result in lost product if they degrade. Presently, there is no alternative that can compete with plastic on both cost and usability, and the race is on to develop sustainable packaging to meet these requirements.
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