Experts predict that plant protein production in Russia will grow by 3-5% per year until 2030 and reach 200 thousand tons per year. At the same time, plant protein-based products remain a niche on the Russian market, although demand for them is slowly growing.
Analysts at Rosselkhozbank assessed the prospects for the development of soybean production and plant protein-based products in Russia. In a report by analysts, which was reviewed by sfera.fm, it is indicated that soy protein will be the main alternative to animal proteins in the coming years.
The volume of soybean harvest in Russia is growing – for example, in 2023 it already amounted to 6.8 million tons, which is 14% higher than in 2022. The area of sown land under soybeans also increased – by 4% compared to last year. In the coming years, the volume of soybean harvest will steadily grow due to the further expansion of the area of sown land and the gradual intensification of agriculture. By 2025, the harvest could exceed 8 million tons.
The volume of the Russian market for plant-based protein products in 2023 was about 180 thousand tons, the report says. The most popular product based on alternative protein is milk, analysts note — various plant-based milk analogues account for 60% of the market for alternative plant-based products. Demand in this area is slightly higher than in others, and amounts to 5%. At the same time, the demand for plant-based meat analogues is only 3%, and these products account for 20% of the market volume. Another 10% of the market is made up of plant-based cheeses, the remaining 10% is made up of other products, including plant-based fish and seafood.
“We see ample opportunities for developing the market for such products, including by including projects for the production of annual legumes in the list of sustainable projects, including green financing of agricultural projects,” said Natalia Khudyakova, Managing Director of the Center for Macroeconomic and Regional Analysis and Forecasting of the Russian Agricultural Bank.
Source: sfera.fm