Changing food preference and easy availability will drive the demand
According to ConsumerIntel360's recent survey, the plant protein market in the United States recorded significant growth in the last two quarters in 2021. The market's growth can be primarily attributed to the changing food preference, rising health consciousness, and introduction of new plant-based protein ingredients. It is expected that companies are likely to concentrate on new ingredients that can offer the same taste and value in the coming years.
Changing food preference and easy availability will drive the demand The growth in the plant-based protein market is primarily driven by changing food preferences. The rise in the ‘flexitarian’ consumers - individuals who consume meat and dairy products, however, are willing to reduce the consumption quantity of animal products is primarily creating the demand. Similarly, the growing vegan population in the United States is also driving the demand for plant-based protein products.
Consumers’ perceptions towards animal-based proteins are changing due to growing health, environmental, and ethical concerns. Moreover, the rising availability of plant-based protein products is also supporting the trend. Because of the strong demand, almost all the leading retailers in the country are providing shelf space for branded and private label plant-protein products.
Additionally, consumers can also access plant-based protein foods at leading restaurants and foodservice channels.
Plant-protein as a weight management tool capturing market space Obesity has always been a major concern in the United States. To manage the obesity rate in the country, the government took several steps, such as reducing sugar content in packaged food products and promoting health awareness programs. Importantly, consumers are also showing interest in health regimes, and many have initiated physical activities, curbing sugar intake, and included plant-based protein products in their weight management diets.
Plant-based proteins have emerged as a weight management tool in recent years. Soy proteins are well accepted among gym-goers; however, pea and rice proteins are also evolving as alternatives to soy protein. As these products contain high fiber, no cholesterol, and low saturated fat, consumers include plant-based protein products in their weight loss diet plans.
Wide range of flavors and ingredients are creating demand Consumption of plant-based protein products is also increasing due to the availability of alternative ingredients and flavors. Companies are focusing on product development according to the consumers’ demand, and a wider range of available alternative ingredients supports the trend. For instance, in the alternative plant-based dairy market, companies are using different ingredients such as soy, coconut, oats, rice, almond, and hemp to produce plant-based milk. Therefore, consumers allergic to one ingredient can opt for another product made from a different ingredient. Hence, a wide range of ingredients and flavors is expected to attract more consumers in the coming days.
Plant-based meals will drive the growth Plant-based meals are gaining popularity in the United States. This is primarily due to rising health awareness, flexitarian, and vegan populations. Moreover, government support is also driving the market. Notably, the New York government passed a bill in 2019 that assures hospitals in New York City to provide plant-based meals and snacks as an option. The bill is an effort from the government to encourage people to go for plant-based foods for better health.
