Investors
Market
Solar Foods is commercializing Solein, focusing initially in the Health & Performance nutrition market of ready-to-drink protein drinks, ready-to-mix protein powders and protein bars and other protein snacks. Solein can also replace traditional proteins like whey, dairy, and egg yolk in virtually any food or product.
The Health & Performance nutrition market has attractive size and growth rates, and the size of the category in the United States alone is approximately USD 10 billion. Strong trends on health, wellness, and fitness have been driving the category for the past decade, with consumer demand also driven by healthy snacking trends as well as the increasing use of weight control medication.
The industry is dominated by whey protein isolate, which is facing global supply restraints. The industry is looking for sustainable alternatives that can match whey on nutrition, taste and texture.
Market trends and growth drivers
Change in consumer behaviour
Consumers are increasingly taking climate and environmental factors into account in their purchasing decisions and are striving to reduce the consumption of traditional products. Food companies need to find new sustainable protein sources that can not only replace animal proteins but also genuinely reform their food offering.
Population growth
The world population is expected to grow to 10 billion by 2050. Solar Foods believes that providing a sufficiently nutritious diet for a growing population requires new solutions for food production already today.
Climate change and biodiversity loss
As climate change progresses, the ability to produce food regardless of climatic conditions will become highlighted. A significant part of the world's surface area is already used for agriculture, and the land available for agriculture can no longer be sustainably expanded.
On the contrary, there is pressure to reforest agricultural land to grow global carbon sinks. In addition to energy production, food production is the most significant environmental modifier and the main reason for biodiversity loss.
Geopolitics
The importance of self-sufficiency in food production is emphasized due to geopolitical reasons. The global food supply chain is quite fragile and concentrated: For example, three countries account for over 80% of the world’s soy production, so even a small crisis will have a significant impact on global protein availability or at least the price. Prevailing geopolitical tensions have put food self-sufficiency at the top of many countries' list of priorities. In addition, countries are using legislation to find new solutions to tackle climate change, biodiversity loss and sustainable food production.
