C. Market dynamics and trends

Some of the high-level important global dynamics and trends are:

  1. Increased demand for protein and, in particular, meat: global meat consumption has increased rapidly over the past 50 years, resulting from an ever-growing global population and the rise of a large middle class in the emergent markets of Asia. (source)
  2. Changing diets in western countries: this trend is seen through an increase in plant-based and flexitarian diets in Europe and North America. The U.S. Food Marketing Institute 2019 U.S. Grocery Shopper Trends report finds a rising number of households (33 per cent) have at least one member voluntarily following a vegan, vegetarian, pescatarian or flexitarian diet. (source) The global plant based protein market is set to grow at 8.29 per cent annually. (source)
  3. Increased awareness of food security: This desire for regional distribution networks and supply chain stability has been a growing concern and has become front and center during the COVID-19 pandemic. (sources 1 and 2)
  4. Increased demand for trusted, healthy food: As part of this trend, there has been a rise in demand for organic, natural, local and sustainably packaged food products.  66 per cent of Canadian shoppers are purchasing organic items weekly. (source) In 2018, sales increased five times more for food sold in sustainable packaging verses product sold in nonrecyclable packaging. (source)

  5. Increased desire for food traceability: this trend is driven by data tracking technology capabilities, including blockchain. (source)