Table of Contents
Executive Summary
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- Market overview
- Top takeaways
- Impact of COVID-19 on plant-based proteins
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on plant-based proteins, May 2020
- The issues
- Meat still viewed as superior protein source
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- Figure 2: Select protein opinions, by dietary preferences, March 2020
- Preference for real meat is the ultimate barrier
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- Figure 3: Preference for real meat as barrier to meat-alternative consumption, by gender and age, March 2020
- Many view meat substitutes as over-processed
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- Figure 4: Would eat more meat substitutes if less processed, by dietary preferences, March 2020
- The opportunities
- Stocking up on plant-based foods
- Highlight good taste along with health benefits
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- Figure 5: Top three motivations for eating plant-based proteins, March 2020
- Mix it up
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- Figure 6: Select protein opinions, seeking variety in meat alternatives, March 2020
- Blending in
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- Figure 7: Would like to see more blended meat products, by select reasons for eating plant-based protein, March 2020
- What it means
Impact of COVID-19 on Plant-based Proteins
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- What you need to know
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- Figure 8: Short, medium and longer-term impact of COVID-19 on plant-based proteins, May 2020
- Opportunities and Threats
- Healthy eating takes a backseat to comfort and familiarity, for now
- Trade show cancellations, halted in-store demos cause roadblocks for brands
- Outbreaks at meat processing facilities could boost plant-based sales
- Impact on the plant-based proteins market
- Smaller brands at risk of losing ground
- DTC offerings may help support the market
- Role of animal agriculture in pandemics may have long-term implications
- How the crisis will affect plant-based proteins’ key consumer segments
- Meat avoiders may relapse
- Brands need to market to older consumers
- How a COVID-19 recession will reshape the plant-based proteins industry
- Private label meat alternatives offer value proposition
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- Figure 9: Private label meat alternatives
- Less room for imitators
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- Figure 10: Products featuring plant-based protein – Good Catch, Love Grown, Enlightened and Teasdale
- Plant-based priorities may shift with increased home cooking
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- Figure 11: Consumer spending on food at home, annual, 2000-19 and Q1 2020
- COVID-19: US context
The Market – What You Need to Know
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- Most consumers won’t give up on meat
- Quick service restaurants showcasing plant-based alternatives
- Plant-based associated with health of people, and the planet
Market Perspective
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- All forms of protein in demand
- Foodservice brings plant-based options to the masses
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- Figure 12: Mentions of meat substitutes on US restaurant menus, by restaurant type, 2017-20
Market Factors
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- Plant based maintains health and environmental halo
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- Figure 13: Select consumer perceptions of meat products vs meat substitute products, Jan 2017 to Mar 2020
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- Figure 14: Ads for JUST Egg featuring environmental and health messaging
- Meat industry fights for sole use of terminology
- Plant-based brands need to consider price
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- Figure 15: Consumer Sentiment Index, January 2007-March 2020
Key Players – What You Need to Know
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- Meaty alternatives have garnered widespread popularity
- Private label is a gateway for curious consumers
- Legacy brands struggle in an increasingly crowded market
- Meat brands strive to blend into plant-based market
What’s Working
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- When it comes to meat alternatives, anything’s possible
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- Figure 16: Percent of high/added protein claims in meat substitute launches, 2015-19
- Figure 17: Multi-outlet sales of select plant-based meat substitutes, by companies and brands, rolling 52 weeks 2019 and 2020
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- Figure 18: Leading meat-like meat alternatives, Beyond Burger and Impossible Burger
- Private label brands jump on the plant-based bandwagon
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- Figure 19: Instant reaction and purchase intent for private label vs name brand meat substitutes, Jan 2017 to Mar 2020
- Figure 20: Consumer perceptions, good value, private label vs name brand meat substitutes, Jan 2017 to Mar 2020
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- Figure 21: Private label meat alternatives
- Less is more
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- Figure 22: Whole foods-based meat alternatives
- Beans front and center
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- Figure 23: Products featuring bean-based protein
- Quinoa paves the way for grain-based meals
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- Figure 24: Whole grain product examples
What’s Struggling
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- Legacy brands continue to face increased competition
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- Figure 25: Gardenburger, Quorn and Field Roast products
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- Figure 26: Brands used by households who use meat alternatives, 2015-19
- Some question nutritional value/processed nature of plant-based meat subs
What to Watch
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- Will “blended” products win over omnivores?
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- Figure 27: Blended products, plant and animal protein combinations
- Going beyond the burger
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- Figure 28: Plant-based chicken and seafood examples
- JUST leads with innovation
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- Figure 29: Ads for plant-based egg substitutes by JUST Inc, JUST Egg liquid and JUST Egg Folded
The Consumer – What You Need to Know
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- Meat consumption strong and steady
- Most adults consume both animal and plant-based proteins
- Plant-based proteins maintain health halo
- Meat alternatives have small but loyal audience
- Meat has many consumers hooked
- Diversify plant-based protein sources
Dietary Preferences
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- Most consumers still crave meat
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- Figure 30: Dietary preferences, March 2020
- Men and older adults more carnivorous eating
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- Figure 31: Dietary preferences, by age, March 2020
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- Figure 32: Dietary preferences, by gender, March 2020
Protein Types Eaten
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- Consumers are mixing up their protein sources
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- Figure 33: Protein types eaten, March 2020
- Age influences level of meat, meat alternative consumption
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- Figure 34: Protein types eaten, by age, March 2020
- Meat alternatives used across dietary spectrum
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- Figure 35: Protein types eaten – meat alternatives, by dietary preference, March 2020
Motivations for Eating Plant-based Proteins
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- Healthy image is key for success
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- Figure 36: Motivations for eating plant-based proteins, March 2020
- Younger consumers are more concerned for the environment
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- Figure 37: Select motivations for eating plant-based proteins, by age, March 2020
- Older adults still avoiding cholesterol
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- Figure 38: Eating plant-based proteins to manage cholesterol, by age, March 2020
Meat Alternative Experience
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- Meat alternatives have loyal following
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- Figure 39: Meat alternative experience, March 2020
- Women were on board sooner than men
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- Figure 40: Meat alternative experience, by gender, March 2020
Meat Alternative Barriers
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- Real meat is tough to beat
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- Figure 41: Meat alternative barriers, March 2020
- Men still more likely to see meat as superior
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- Figure 42: Select meat alternative barriers, by gender and age, March 2020
Meat Alternative Protein Sources
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- Beans are the logical choice
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- Figure 43: Meat alternative protein sources, March 2020
- Women more open to beans and grains
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- Figure 44: Meat alternative protein sources (nets), by gender, March 2020
Protein Opinions
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- More than one way to get your meat
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- Figure 45: Select protein opinions, meat, March 2020
- A little variety, please
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- Figure 46: Select protein opinions, seeking variety in meat alternatives, March 2020
- Meat seen as superior protein source by many
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- Figure 47: Select protein opinions, protein sources, by gender, March 2020
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- Figure 48: Real meat is the best source of protein, by dietary preferences, March 2020
- Carnivores’ preferences vary greatly from those of meat avoiders
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- Figure 49: Select plant-based protein preferences, by dietary preferences, March 2020
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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