US Plant-based Proteins Market Report 2024
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The US plant-based proteins market in 2024 is experiencing a gradual decline, influenced by inflation and evolving consumer preferences. Despite this trend, there are opportunities for brands to innovate through flavor enhancements and partnerships, while emphasizing the nutritional and environmental benefits of plant-based products.
The environment, cost of living and general wellness all put pressure on consumers’ meat consumption, yet enthusiasm for plant-based replacements can be hit or miss – seen in generally declining markets, post-2020 boom. Comparing products to meat from satisfaction, environmental and wellness standpoints gives brands a reference point to help consumers contextualize plant-based advantages; but brands can go beyond comparisons.
Consumers’ quest for easy variety guides increased plant-based protein purchase nearly as much as health. Beyond flavor innovation, assisting with meal building through sides and sauce suggestions can take products from healthful to indulgent based on consumers’ moods. Brand and foodservice collaborations can tap into existing audiences, and incremental habit improvements can build on frequency. Letting plants speak for themselves and capitalizing on innate nutritional qualities can further let products shine on their own rather than struggle in meat’s shadow.
If you are interested in this report, you might also like the 2024 Protein and Protein Alternatives Market Report.
For the purposes of this Report, Mintel has used the following definitions:
Adriana is a Registered Dietitian with a Masters in Nutrition and Dietetics from Benedictine University. She blends her interests in nutrition and consumer behavior to analyze topics within the food, drink & nutrition landscape through a research-informed lens.
In a category saddled with comparisons to “the real thing,” knowing when to stand completely apart or team up with smart partnerships can keep brands moving forward.
Adriana Chychula
Food, Drink & Nutrition Analyst
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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