Middle-class emerging millennials
As the market reaches saturation in Western Europe, emerging markets are becoming more interesting, where middle-class millennials represent a big untapped and protein-friendly consumer base.
Euromonitor estimates that if only 10% of the 720 million consumers aged 18-35 in India and China alone spent $5 on a high protein snack product in 2015, sales would reach US$360 million.
And with increasing numbers of young Indian and Chinese people travelling and studying abroad and picking up Western food trends, this consumer base will be increasingly receptive.
“[They] could prevent the protein bubble from bursting,” says Bandy.