Companies all around the world are racing to find better meat replacements for plant-based or plant-curious consumers, and the plant-based protein sector is flourishing. According to a new survey by the nutrition business Kerry, 61% of customers prefer plant-based proteins to animal-based proteins. Customers increasingly link protein with health and as the benefits of plant-based diets become more widely understood, consumers are gravitating toward vegan protein sources.
Only half of all consumers believe animal protein is a preferred source of dietary protein, according to the study. More products are gaining popularity in new market segments such as milk alternatives, chicken, and meat replacements, according to the research. The boost in growth and demand is projected to continue as new plant protein sources become more accessible and appealing to consumers.
According to the survey, most consumers are aware that plant-based protein is the healthier alternative, as evidenced by the 11% difference between plant-based and animal-based protein. The research underlines the relevance of new plant-based protein developments, ranging from snacks to meat substitutes, dairy alternatives, and protein powders, which will make plant protein more accessible to a wider range of customers.
Plant proteins have become a crucial innovation strategy in the protein-fortification field since they have gained traction and consumer acceptance. For example, between 2018 and 2020, global product releases of snacks containing plant proteins increased by 49%. According to Reports and Data, the global plant protein market size, which was USD 10.28 Billion in 2020 and is expected to register a CAGR of 6.8% to reach USD 17.52 Billion by the year 2028.
Europe and Asia: Fastest-Growing Regions for Plant-based Proteins
Plant-based protein popularity was also shown to be higher in Europe and Asia-Pacific. Plant-based proteins were chosen by 16% in Europe, whereas animal-based proteins were favoured by 21% in Asia-Pacific.
Consumers are continuing to gravitate toward plant-based foods as vegan food firms develop globally and production facilities open throughout the world to lower food costs across the board.
With a growing worldwide focus on achieving net-zero emissions, the change to climate-friendly, sustainable protein production creates huge sales and investment opportunities. Companies and investors interested in plant-based innovation see the revolutionary potential of this technology to achieve a carbon-neutral food system, and they are positioning themselves to lead the way.
The Flexitarian's Ascension
Consumers are shifting towards consuming more plant-based products but many are finding that being a flexitarian is much more sustainable in the long run than being a hardcore vegan. Approximately 32% of individuals throughout the world identify as "primarily vegetarian" but they have no qualms about eating animal-based proteins once in a while so that they do not feel too restricted by their choice to go plant based. Research revealed a major shift in consumer behaviour as environmental and nutritional factors encourage people to switch to a plant-based diet.
The inventive stride of plant-based firms all over the world is fuelling the rise of the flexitarian diet. According to the report, 80% of US consumers feel the current movement is a long-term trend that will continue to influence the industry. In addition to consumer motivations, the plant-based sector is becoming more accessible, with a greater range of vegan options.
Plant-based Proteins are Healthier for Both People and the Environment
Vegan protein sources are now widely available in the retail and foodservice sectors around the world, making it easier than ever for customers to choose alternatives to their favourite animal-based cuisine. Plant-based meat substitutes have blazed the way thanks to companies like Impossible Foods and Beyond Meat, which provide a substitute that feels, tastes, and looks like its animal-based equivalents. In addition to these businesses, research suggests that increasing components such as lupin beans and sorghum deliver a significant amount of protein to customers.
Top Plant-based Protein Trends to Watch
While 2022 has seen a lot of new plant-based protein product innovation, here are some of the plant-based protein trends we expect to see in 2023:
1. Protein-rich Plant-based Milks
Consumer desire for additional protein in their foods and beverages is driving plant-based protein product innovation, with Silk Ultra being one of the most recent instances. Silk Ultra has a staggering 20 grams of protein per serving and may be used in cereal, coffee, and other milk applications, comparable to a protein shake. Pea protein-fortified almond and coconut milks are also part of the more-protein craze.
2. Plant-based Meats with a Clean Label
According to the International Food Information Council, more than one-third of customers are motivated by natural labelling while supermarket shopping, with half believing it's crucial to avoid chemical-sounding components. Plant-based meat producers are starting to adapt to this trend, looking for ways to replace components like methylcellulose and titanium dioxide with more identifiable ones and using shorter ingredient declarations.
3. Plant-based Frozen Meals Expansion
According to the Plant Based Foods Association, plant-based frozen meals increased by nearly 29% in 2020, compared to 8% growth in the frozen food category overall. This implies a huge desire for plant-based convenience meals that can be heated and eaten right away. Popular frozen meals such as plant-based pasta dishes, burritos, and pizzas will continue to grow in popularity.
4. Plant-based Meats that are More Realistic
The majority of US consumers (54%) believe plant-based meat should taste similar to meat. Because the majority of today's plant-based meat consumers are not vegans, plant-based meat is expected to provide the same eating experience as animal-based meat. To meet this demand, plant-based meat producers are increasingly emphasizing on the production of meaty flavour and juicy texture.
5. Plant Proteins of the Future
It's no wonder that plant-based food
firms continue to look for new variations of proteins that might appeal to
customers, given that diversity in the diet is the third most reported reason
consumers turn to plant-based protein products (after health and flavour). With
legumes and seeds as essential categories for novel plant proteins, a health
halo is especially vital.
Author Bio:
Senior Content Writer
Email: paroma.bhattacharya@reportsanddata.com
Paroma Bhattacharya has dabbled in the realm of content
production for over half a decade and possesses extensive experience in penning
down pieces related to healthcare, technology, banking, and a wide range of
other industry verticals. Her articles focus primarily on balancing relevant
data while never neglecting to make the material engaging. She believes in
providing objective facts to help people make important business decisions.
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