Describing itself as a “movement of change-makers,” UK-based early growth-stage fund Sentient Ventures, founded by Manish Karani and Alexandra Clarke, focuses on funding “the best international companies that are creating superior successors to animal products,” and Says its mission is to “enable innovators and change-makers to accelerate the removal of farmed animals from our food production system, allowing our planet to heal and thrive.”
Partner and co-founder Alexandra Clarke leads strategy and operations at Sentient Ventures, which for over a decade has led the EU’s support for a policy and regulatory landscape encouraging a shift away from animal product production and consumption. He joined impact investor Vedge Capital as an investment advisor before co-founding Sentient Ventures. Tom Chapman, Head of Food System Impact, previously worked with GFI to develop the first ESG framework for the alternative protein industry.
“We are excited for what the future holds”, say Alexandra and Tom
An Industry at a Crossroads: Revitalizing the Alternative Protein Market
By Alexandra Clarke and Tom Chapman
The alternative protein market, championed as a beacon of hope for a sustainable and ethical future, is at a crossroads. The pre-2022 boom was driven by curious eco-conscious consumers. Despite this year’s negative news, evidence shows willingness to move away from animal products is at an all-time high, especially among younger generations.
A recent study by Sodexo, one of the world’s largest food service providers, found that 81% of students chose a plant-based diet over meat when it was the default option. Across the UK, we see the same trend. Students on 20 university campuses have demanded access to plant-based options, and several cities have signed up to plant-based agreements.
An opportunity, not a hazard
However, across society, several notable companies have closed shop due to cost of living, concerns about over-processed foods, and their taste or lack thereof in consuming alternative proteins. We see this as an opportunity, not an obstacle. Emerging companies are now in a prime position to address key consumer pain points that prevent growth adoption; Taste, value, and nutrition, ensure that products can truly compete with animal products.
“Emerging firms are now in a prime position”
The issue of value is particularly significant. For many consumers, it is not possible to regularly purchase alternative protein products that cost more than their animal-based counterparts. This is coupled with limited accessibility, where products are limited to a handful of urban supermarkets and health food stores, often leaving low-income communities disadvantaged.
Flavor and texture are another key focus. Although progress has been made, the sensory experience of many alternative protein products needs further development to convince many meat-lovers. From the juiciness of burgers to the delicate texture of fish fillets, replicating these experiences with non-animal ingredients is a complex challenge. We are already seeing advances in the exploration of better techniques and materials to fill this gap.
“…most plant-based foods score better than animal products for protein”
Another major focus area is nutrition. Like-for-like, most plant-based foods score better than animal products for protein, saturated fat, fiber, and other macronutrients; There is growing concern about ultra-processed foods and their arm-long ingredient lists.
Consumers are increasingly aware of their nutritional needs, and thus need to do more to acquire cleaner-label products and effectively communicate nutritional benefits.
A call to action
These obstacles are not insurmountable, but calls to action. Consumers are interested in sustainable, ethical food choices and are open to trying new products. They generally want to consume well. The industry must meet this challenge and meet consumers with more innovation and exploration of production techniques and new ingredients.
“It’s not just about offering a choice; it’s about offering a better choice.”
We are excited for what the future holds. The alternative protein market has the potential to truly revolutionize our food system, combat climate change, reduce biodiversity loss, and significantly reduce the suffering of farmed and marine animals. To do this, it must move beyond novelty and niche markets and deliver products that meet and exceed the expectations of mainstream consumers. It’s not just about offering a choice; It’s about offering a better choice.