“Plant-based” is the most recent buzzword gracing the covers of magazines, cookbooks, and meals packaging. Nevertheless, it will be a mistake to downplay plant-based diets as nothing greater than a fad or media hype—plant-based merchandise comprise a fast-growing market with enduring momentum and ongoing funding and innovation.
The brand new market analysis report Vegan, Vegetarian, and Flexitarian Shoppers by Packaged Details uncovers the next key insights into the plant-based market.
1. Since 2017, the U.S. plant-based market has practically doubled in measurement and has been rising far more quickly than the general meals market, in response to knowledge collectively launched by the Plant Based mostly Meals Affiliation (PBFA) and the Good Meals Institute (GFI). In 2021, the biggest product classes included plant-based milk and plant-based meat, whereas the quickest rising class was plant-based eggs.
2. Extra customers turned to plant-forward diets through the pandemic to help their general well being. Packaged Details’ Might 2022 Nationwide On-line Client Survey indicated that 30% of customers had been nonetheless consuming extra contemporary produce than they did pre-pandemic.
3. Most customers are extremely involved about inflation and the rising price of meals. In Packaged Details’ Might 2022 survey, 63% of customers reported being very involved about rising meals costs. Rising costs for meat are main some customers to scale back their consumption of meat or purchase inexpensive substitutes similar to beans and lentils.
4. Flexitarians stay a key goal marketplace for plant-based meals as a result of they make up a a lot bigger portion of the inhabitants than vegans and vegetarians. (“Flexitarian” is brief for “versatile vegetarian,” and is a time period used to explain individuals who comply with a semi-vegetarian eating regimen however sometimes eat meat, poultry, or seafood).
5. Vegans, vegetarians, and flexitarians usually tend to be youthful within the 18-44 age vary encompassing Era Z and Millennial customers. Youthful customers usually tend to worth wholesome, contemporary meals and are open to exploring new merchandise. In distinction, the 65 and up age group is the least more likely to comply with vegetarian or vegan diets.
6. Family earnings additionally performs a task in folks’s consumption of plant-based meals. As a result of customers with greater incomes have the flexibility to pay for premium meals—similar to contemporary, complete meals and natural, sustainable, and clean-label merchandise—they’re extra more likely to comply with particular diets similar to veganism or vegetarianism. As well as, folks dwelling in city areas usually tend to take into account themselves vegetarian, semi-vegetarian, or vegan. Cities have a tendency to supply extra vegan eating places and plant-based merchandise in shops.
7. Non-white shopper teams are typically extra plant-forward than white customers, and these teams additionally are likely to skew youthful and dwell in city settings. Non-white customers usually tend to comply with Hinduism, Islam, and Buddhism, which have some dietary restrictions that will have an effect on consumption of sure animal merchandise.
Discover Out Extra
To study extra in regards to the state of the plant-based trade in 2022, you should definitely learn Vegan, Vegetarian, and Flexitarian Shoppers, 2nd Version, the go-to supply for an entire understanding of U.S. shopper traits concerning plant-based and plant-forward consuming. This report combines Packaged Details’ in depth monitoring of the meals and beverage market with proprietary surveys, and evaluates present traits and future instructions for plant-based advertising and retailing, together with shopper patterns through the pandemic and throughout the broader meals and beverage market.
About Packaged Details: Packaged Details publishes market intelligence on a variety of shopper market matters, together with shopper demographics and shopper insights, shopper monetary services and products, shopper items and retailing, and pet services and products. Packaged Details additionally gives a full vary of customized analysis companies. Stories may be bought at our firm web site and are additionally out there by MarketResearch.com.
