What you need to know
The vast majority of consumers still eat meat, yet interest in plant-based proteins continues to grow. Adults are nearly as likely to eat proteins from plant sources as they are from animal sources, and those who consume plant-based proteins do so for their health above all other reasons. Taste is also a key component, and the recent mainstream popularity of plant-based proteins is strongly associated with innovations in meat-like alternatives, which many consumers have tried while dining out. In the wake of COVID-19, plant-based proteins, especially beans and whole grains, are seeing increased sales as consumers stock up on pantry staples and foodservice options remain limited. However, an economic downturn could soften the sales growth of higher priced meat alternatives.
Key issues covered in this Report
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In the early stages of the COVID-19 crisis, consumers were stocking up on plant-based proteins along with other pantry staples.
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The new wave of high-protein, meat-like alternatives have gained mainstream popularity, especially among those who have traditionally been more inclined to primarily eat meat. However, growth may slow for higher-priced meat alternatives as budgets tighten amidst a looming recession.
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Brands should be mindful of consumer desire for variety of formats and sources of plant-based proteins.
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Some consumers, especially those who limit or eliminate meat, crave less-processed solutions for plant-based eating.
This Report was written in April 2020 and updated through June 11, 2020 with the COVID-19 implications.
Definition
For the purposes of this Report Mintel has defined plant-based proteins as plant or vegetable sourced proteins, such as beans/legumes, nuts, seeds, grains, etc.
This Report covers consumer usage and attitudes toward these plant-based protein ingredients both as stand-alone protein sources (eg canned beans, quinoa), semi-processed sources (eg tofu, seitan) and as components of plant-based products, such as meat alternatives (eg Gardein, Beyond Meat).
Sales of select plant-based meat alternative brands are included, but as this Report covers plant-based protein sources across categories, a traditional market size is not included.
While mentioned in this Report in context of protein content, plant-based dairy substitutes will be covered more thoroughly in a separate report, Dairy Alternatives – US, June 2020.
