Plant-based Proteins: Incl Impact of COVID-19 - US - May 2020

OVERVIEW
What you need to know
Key issues covered in this Report
Definition
EXECUTIVE SUMMARY 
Market overview
Top takeaways
Impact of COVID-19 on plant-based proteins
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
Figure 2: Select protein opinions, by dietary preferences, March 2020
Preference for real meat is the ultimate barrier
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
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
Figure 5: Top three motivations for eating plant-based proteins, March 2020
Mix it up
Figure 6: Select protein opinions, seeking variety in meat alternatives, March 2020
Blending in
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  
What you need to know
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
Figure 9: Private label meat alternatives
Less room for imitators
Figure 10: Products featuring plant-based protein – Good Catch, Love Grown, Enlightened and Teasdale
Plant-based priorities may shift with increased home cooking
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
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
All forms of protein in demand
Foodservice brings plant-based options to the masses
Figure 12: Mentions of meat substitutes on US restaurant menus, by restaurant type, 2017-20
MARKET FACTORS 
Plant based maintains health and environmental halo
Figure 13: Select consumer perceptions of meat products vs meat substitute products, Jan 2017 to Mar 2020
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
Figure 15: Consumer Sentiment Index, January 2007-March 2020
KEY PLAYERS – WHAT YOU NEED TO KNOW 
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
When it comes to meat alternatives, anything’s possible
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
Figure 18: Leading meat-like meat alternatives, Beyond Burger and Impossible Burger
Private label brands jump on the plant-based bandwagon
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
Figure 21: Private label meat alternatives
Less is more
Figure 22: Whole foods-based meat alternatives
Beans front and center
Figure 23: Products featuring bean-based protein
Quinoa paves the way for grain-based meals
Figure 24: Whole grain product examples
WHAT’S STRUGGLING
Legacy brands continue to face increased competition
Figure 25: Gardenburger, Quorn and Field Roast products
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
Will “blended” products win over omnivores?
Figure 27: Blended products, plant and animal protein combinations
Going beyond the burger
Figure 28: Plant-based chicken and seafood examples
JUST leads with innovation
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 
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 
Most consumers still crave meat
Figure 30: Dietary preferences, March 2020
Men and older adults more carnivorous eating
Figure 31: Dietary preferences, by age, March 2020
Figure 32: Dietary preferences, by gender, March 2020
PROTEIN TYPES EATEN
Consumers are mixing up their protein sources
Figure 33: Protein types eaten, March 2020
Age influences level of meat, meat alternative consumption
Figure 34: Protein types eaten, by age, March 2020
Meat alternatives used across dietary spectrum
Figure 35: Protein types eaten – meat alternatives, by dietary preference, March 2020
MOTIVATIONS FOR EATING PLANT-BASED PROTEINS
Healthy image is key for success
Figure 36: Motivations for eating plant-based proteins, March 2020
Younger consumers are more concerned for the environment
Figure 37: Select motivations for eating plant-based proteins, by age, March 2020
Older adults still avoiding cholesterol
Figure 38: Eating plant-based proteins to manage cholesterol, by age, March 2020
MEAT ALTERNATIVE EXPERIENCE
Meat alternatives have loyal following
Figure 39: Meat alternative experience, March 2020
Women were on board sooner than men
Figure 40: Meat alternative experience, by gender, March 2020
MEAT ALTERNATIVE BARRIERS
Real meat is tough to beat 
Figure 41: Meat alternative barriers, March 2020
Men still more likely to see meat as superior 
Figure 42: Select meat alternative barriers, by gender and age, March 2020
MEAT ALTERNATIVE PROTEIN SOURCES
Beans are the logical choice 
Figure 43: Meat alternative protein sources, March 2020
Women more open to beans and grains 
Figure 44: Meat alternative protein sources (nets), by gender, March 2020
PROTEIN OPINIONS
More than one way to get your meat
Figure 45: Select protein opinions, meat, March 2020
A little variety, please
Figure 46: Select protein opinions, seeking variety in meat alternatives, March 2020
Meat seen as superior protein source by many
Figure 47: Select protein opinions, protein sources, by gender, March 2020
Figure 48: Real meat is the best source of protein, by dietary preferences, March 2020
Carnivores’ preferences vary greatly from those of meat avoiders
Figure 49: Select plant-based protein preferences, by dietary preferences, March 2020
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations