GFI’s 2024 report spotlights alt protein progress amid global shifts

As political tensions, climate-related disasters, and economic uncertainty continued to challenge global food systems in 2024, the Good Food Institute’s State of Alternative Proteins report paints a measured but forward-looking picture of an industry forging ahead. The report details a growing ecosystem of scientific advances, public-private partnerships, regional infrastructure investments, and evolving consumer behavior across plant-based, cultivated, and fermentation-enabled proteins.

“Innovation is critical to our food future,” GFI states in its introduction. “We see a future where diverse foods satisfy consumer expectations on flavor, nutrition, affordability, and sustainability.”

The report, the first of its kind from GFI to combine insights across protein modalities and global regions, outlines progress in taste parity, cost reduction, and consumer appeal, while also acknowledging persistent funding challenges and regulatory resistance in some regions.

Among the year’s standout developments was the formation of at least 45 new industry partnerships, including initiatives to co-develop equipment and optimize processes for scale. These collaborations reflect a shift toward deployment, with companies prioritizing cost efficiency and infrastructure.

One of the report’s featured examples is the Illinois Fermentation and Agricultural Biomanufacturing Hub (iFAB), which received more than $50 million in public investment to scale precision fermentation using local corn feedstocks. Dr Beth Connerty of the University of Illinois, a key figure behind the hub, emphasized its local impact: “Regional innovation and place-based economic development are crucial to engaging a wider faction of the local workforce.” She added that “building the biomanufacturing economy provides a market for local agriculture,” with iFAB designed to serve “the region’s biggest assets: corn farmers and food producers.”

Curt Chaffin, GFI’s Senior Fellow focused on regional bioeconomies, noted that while iFAB is ideal for Central Illinois, other regions will require different approaches. “In 2025, I will be tracking regional bioeconomies across the USA, like cellular agriculture in North Carolina, upcycling food waste in the Northern San Joaquin Valley, and producing food with microorganisms at the University of Nebraska,” he said.

Beyond infrastructure, investment trends offer a mixed but not discouraging view. Total funding in the alternative protein sector reached US$1.1 billion in 2024, including US$651 million in fermentation, US$309 million in plant-based products, and US$139 million in cultivated meat and seafood. Meati secured the year’s largest raise at US$100 million, followed by Prolific Machines (US$54.6 million) and Heura (US$43 million).

Retail performance varied. While US plant-based food sales fell slightly in dollars and units, global sales reached US$28.6 billion, a 5% year-over-year increase across plant-based meat, dairy, and seafood. In a particularly telling development, Just Egg’s sales surged during a period of conventional egg shortages in the USA, growing five times faster in January 2025 than in the same period the year before. According to SPINS data, 56% of consumers who tried plant-based eggs in 2024 returned for repeat purchases – up from 44% in 2022.

The report also highlights emerging connections between food innovation and national security. In a conversation excerpted within the document, Wildtype CEO Justin Kolbeck described the real-world implications of food instability during his time as a US Foreign Service Officer. “I witnessed the calamitous impact of war on local food supplies. I realized just how fundamental a reliable and secure food system is to national security goals – whether in Afghanistan or back home in the USA.”

That theme was echoed by Pepin Andrew Tuma, GFI’s Director of Policy & Government Relations, who emphasized the need for federal support. “It simply makes no sense to stifle innovation on promising technologies with potentially enormous stakes,” he said.

On the scientific front, the report celebrates the approval of a new Gordon Research Conference (GRC) on alternative proteins, to be held biennially starting in 2026. Amy Huang, GFI’s Senior Associate Director of Scientific Ecosystems, and Bianca Datta, PhD, GFI Scientific Partnerships Manager, wrote: “This milestone is not only a significant demonstration of the central importance of alternative proteins, but additionally a mechanism for expanding and connecting the academic community.”

Environmental data also features prominently. A 2024 ISO-certified life cycle assessment showed that plant-based meat production has an 89% lower environmental impact than animal meat. “This study shows just how significantly plant-based meat can reduce our food system’s environmental impacts – no matter how it's made,” said Dr Nikhita Mansukhani Kogar, GFI Senior Lead Scientist. “By requiring fewer resources while producing more food, plant-based meat helps build a more resilient and efficient food system.”

Meanwhile, Singapore and several Asia-Pacific countries continued to lead on policy, regulatory frameworks, and R&D. Singapore, for example, became the first country where cultivated meat may be recognized as halal. Governments in Japan, South Korea, and India made substantial public investments, while Singapore also expanded education programs to build a future-ready alternative protein workforce.

As the global demand for meat continues to grow, GFI’s report suggests the path forward lies not just in novel ingredients but in strategic deployment. Whether via academic research, regional infrastructure, or public investment, the alternative protein sector in 2024 showed signs of maturing into a mainstream pillar of the food system.