PIC will build on Canada’s strengths to substantially increase global market share in novel protein (and co-products) fractions, ingredients, food and feed products, and technologies. Envisioned outcomes include:
Short term (0 to 5 years)
The PIC strategy is being developed to:
Medium term (5 to 8 years)
Implementation of PIC strategic projects will result in
Longer term (7 to 10 years and beyond)
Results of PIC strategy
The global population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050, up 31%. China and India currently have the largest populations (1.4 and 1.3 billion respectively). By 2022, India’s population is expected to surpass that of China. Africa's population is projected to double to 2.4 billion by 2050. The demand for food is expected to increase between 59% and 98% by 2050. The ability to grow and access nutritious and sustainable food will be critical to ensure the health of future populations.
Middle class and affluence
By 2020, the majority of the global population will be middle class. China has now surpassed the United States as leader in this category, with 109 million people considered middle class, 20% of the world population and nearly 10% of global wealth. Eastern Europe and Latin America are other regions expected to increase in affluence.
The impact? A shift to more western-style diets: high in calories, more animal-based protein, and other resource intensive foods.
The millennial generation includes people born between 1981 and 1997, and accounts for 27% of the global population (2 billion people).
Millennials are digital natives and engaged consumers, concerned with food provenance and 'clean' eating. They want to know how their food is produced. They are more likely than other generational segments to favour vegetarian or vegan foods. While convenience is important, millennials look for foods produced in a socially and environmentally responsible manner. They are adventurous and open to new products, ingredients and innovation. However, many face budgetary restrictions and are burdened by debt; therefore millennials tend to be price-sensitive and possess little brand loyalty.
Protein Industries Canada Cluster Strategy
Key market drivers are creating significant new business and economic opportunities for Canada, including: