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Sustainable Food Substitutes

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Changing consumer tastes drive sustainable food substitute inventions

Last month Oatly made its market debut on the Nasdaq. Trading now at 60% over the IPO price puts a US$16 billion value on the company. So how does a decades old Swedish oat milk company transform itself into a high growth business and one of the hottest IPOs of 2021. Part of it is new leadership and rebranding, but really it’s all about changing tastes.

This article puts a lens on the invention and innovations of three key sustainable food substitute areas, peeling the onion to identify who is doing what and where. Our strategic analysis uncovered the following:

  • Food Substitutes is a growing area of technology innovation as consumer demand increases for sustainable meat and dairy food substitutes
  • Continued fast pace inventions in dairy substitute foods as Oatly leads the way with a successfully completed IPO on the Nasdaq in May
  • Investment into soy protein substitute innovation surpasses that of pea proteins with inventions in this area rapidly increasing

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