2021
9
US Plant-based Proteins Market Report 2021
2021-06-04T04:31:22+01:00
OX1047225
3695
139190
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Report
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“The plant-based proteins market continued to gain momentum in recent years, fueled by a number of factors from concern for personal health to the environment. The growing availability of convincingly…

US Plant-based Proteins Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

Providing the most comprehensive and up-to-date information and analysis of the U.S Plant-based Proteins market including the behaviours, preferences and habits of the consumer.

The plant-based proteins market has been growing steadily in recent years, fueled by the surge of convincingly meat-like meat substitutes that are now widely available across channels, both grocery and foodservice. Despite the focal point on these direct meat analogues, the market at large continues to be loosely defined, with many shoppers in this space looking for more whole foods-based protein solutions. What is clear is that plant-based proteins are no longer a trend but a viable option for consumers across dietary spectrums, and there are opportunities for brands to increase basket size of current users and to reach the less-engaged oldest and youngest demographics.

Read on to discover more or take a look at our other U.S Food and U.S Drinks market research.

Quickly Understand

  • The impact of COVID-19 on consumer behavior and the plant-based proteins market.
  • Big opportunities to market plant-based proteins – especially meat alternatives – to parents, particularly dads.
  • Importance of price parity with animal-based proteins for further category engagement.
  • Provide consumers with the variety they seek via new formats and flavor profiles.

Covered in this report

Areas discussed: Consumer usage and attitudes toward these plant-based protein ingredients both as stand-alone protein sources (eg canned beans, quinoa), semi-processed sources (eg tofu, seitan) and as components of plant-based products, such as meat alternatives (eg Gardein, Beyond Meat). The market size of this report covers only plant-based refrigerated and frozen products that are marketed as direct substitutes for meat (eg veggie burgers, chick’n nuggets) as well as seitan, tempeh and tofu.

Brands featured: Good & Green, Good Catch, No Evil, Morningstar Farms, Kite Hill Kids, Sprout, Big Mountain Foods, Hodo, Good Seed, Dr Praeger, Applegate, Fillo’s, Purple Carrot, Beyond Meat, Impossible Foods, Gardein, Field Roast, Lightlife, Tofurky, Quorn and more.

Expert analysis from a specialist in the field

Written by Karen Formanski, a leading analyst in the Health & Wellness sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

The plant-based proteins market continued to gain momentum in recent years, fueled by a number of factors from concern for personal health to the environment. The growing availability of convincingly meat-like meat alternatives has accelerated the widespread consumption of these products among consumers who continue to eat animal-based foods as well. The category enjoyed a huge boost in sales in 2020, thanks in part to the variety they provided as consumers cooked at home more often during the lockdown period. Meat alternative brands can ensure that sales maintain pre-pandemic rates of growth moving forward by focusing on price parity as well as innovations in formats and flavors.

Karen Formanski
Health and Wellness Analyst

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Definition
    • Economic and other assumptions
    • COVID-19: US context
  2. Executive Summary

    • Top takeaways
    • Market overview – meat substitutes
      • Figure 1: Total US sales and fan chart forecast of plant-based meat substitutes, at current prices, 2015-25
    • Impact of COVID-19 on plant-based meat substitutes
      • Figure 2: Short-, medium- and long-term impact of COVID-19 on plant-based proteins, May 2020
    • Opportunities and challenges
    • Plant-based protein consumers motivated by health, variety and convenience
      • Figure 3: Reasons for eating plant-based proteins more often, February 2021
    • Convenient options can keep consumers cooking with plant-based proteins
      • Figure 4: Plant-based protein meal types, February 2021
    • Time to move beyond the burger
      • Figure 5: Use/interest of select meat alternative formats, by gender and parental status, February 2021
    • Pursue plant-based partnerships
    • Preference for real meat, price remain top barriers to use
  3. The Market – Key Takeaways

    • Plant-based meat substitute market robust and diverse in scope
    • Consumers are eating more plant-based proteins at home
    • Putting plant-based in perspective
    • Putting the plants back in plant-based proteins
  4. Market Size and Forecast – Meat Substitutes

    • Already growing meat substitutes market sees sales surge in 2020
      • Figure 6: Total US sales of plant-based meat substitutes, 2015-20
      • Figure 7: Total US sales and fan chart forecast of plant-based meat substitutes, at current prices, 2015-25
      • Figure 8: Total US retail sales and forecast of plant-based meat substitutes, at current prices, 2015-25
    • Impact of COVID-19 on plant-based proteins
      • Figure 9: Short-, medium- and long-term impact of COVID-19 on plant-based proteins, May 2021
    • Lockdown
    • Re-emergence
    • Recovery
    • COVID-19: US context
  5. Market Factors

    • Plant-based protein brands must strive for price parity
    • Putting plant-based in perspective
    • Environmental concerns support market growth and innovation
  6. Market Opportunities

    • Mix up the meat alternatives
      • Figure 10: Meat alternative examples – Good & Green, Good Catch, and No Evil Foods
    • Offer convenient, kid-friendly options
      • Figure 11: Kid-friendly plant-based product examples
    • Plant-based protein consumers have diverse priorities
      • Figure 12: Burger substitute examples: Hodo, Good Seed, Big Mountain Foods
    • Brands strive to meet plant-based consumers halfway
      • Figure 13: Burger substitute examples: Dr. Praeger’s, Applegate Well Carved
    • Focus on flavor
      • Figure 14: Prepared plant-based proteins with international flavors: Hodo, Fillo’s, Purple Carrot
  7. Companies and Brands – Key Takeaways

    • Brands of diverse size and scope thriving in plant-based meat market
    • Partnerships and line expansion can help brands ensure long term loyalty
  8. Market Share – Meat Substitutes

    • Emerging and legacy brands find success in a competitive market
    • Sales of meat alternatives by company
      • Figure 15: Multi-outlet sales of plant-based meat substitutes, by leading companies and brands, rolling 52 weeks 2020 and 2021
  9. Competitive Strategies

    • Plant-based brands continue to garner major investments
      • Figure 16: Impossible Foods campaign ad – We love meat
    • Brands create plant-based partnerships across categories, channels
      • Figure 17: Cross-brand collaborations – Prepared meals featuring leading plant-based meat substitutes
      • Figure 18: Cross-channel collaborations – Foodservice menu options featuring leading plant-based meat substitutes
    • Private label brands hitting all the key trends
      • Figure 19: Private label meat alternative examples
  10. The Consumer – Key Takeaways

    • Most consumers engaged with plant-based proteins
    • Meat substitutes are just one piece of the puzzle
    • Consumption of plant-based proteins shows no signs of slowing
    • Versatility key to keeping plant-based proteins on at-home menus
    • Burgers are just the beginning
    • Increase engagement among plant-based protein consumers
    • Brands need to contend with conflicting consumer demands
  11. The Plant-based Proteins Consumer

    • Most consumers are open to plant-based proteins
    • Targeted messaging required for consumers with diverse motivations
      • Figure 20: Dietary preferences, by age, February 2021
    • Plant-based proteins for all
      • Figure 21: Plant-based protein consumption, by dietary preferences, February 2021
      • Figure 22: Plant-based protein and plant-based meat alternative eaters, by age, February 2021
      • Figure 23: Plant-based protein and plant-based meat alternative eaters, by dietary preferences, February 2021
  12. Plant-based Protein Sources

    • Plant-based proteins consumed in vast majority of households
      • Figure 24: Plant-based protein sources, February 2021
    • Expanding variety is the path to consumer loyalty
      • Figure 25: Repertoire of plant-based protein sources eaten, February 2021
    • Parents more prone to using a variety of sources
      • Figure 26: Repertoire of plant-based protein sources eaten, by parental status, February 2021
  13. Plant-based Protein Consumption Changes

    • Plant-based protein consumption is growing
      • Figure 27: Plant-based protein consumption changes, February 2021
    • Focus on families now for long-term loyalty
      • Figure 28: Plant-based protein consumption changes, by parental status, February 2021
    • Half of meat alternative users eating plant-based proteins more often
      • Figure 29: Plant-based protein consumption changes, by total plant-based protein eaters and meat alternative eaters, February 2021
    • Health halo encourages increased consumption
      • Figure 30: Reasons for eating plant-based proteins more often, February 2021
    • Cost, taste continue to be top barriers to plant-based eating
      • Figure 31: Reasons for eating plant-based proteins less often and not at all, February 2021
  14. Plant-based Protein Meal Types

    • Cooking at home a boon for plant-based proteins
      • Figure 32: Plant-based protein meal types, February 2021
    • Versatility can help plant-based brands get to plates more often
      • Figure 33: Repertoire of plant-based protein meal types, by total and parental status, February 2021
  15. Meat Alternative Format Preferences

    • Time to move beyond the burger
      • Figure 34: Meat alternative formats, February 2021
    • Parents, especially dads, keen on meat alternatives of all types
      • Figure 35: Use/interest of select meat alternative formats, by gender and parental status, February 2021
  16. Plant-based Proteins Experience

    • Increased engagement can support long term growth
      • Figure 36: Plant-based proteins experience, February 2021
    • Parents more prone to use plant-based proteins in all proportions
      • Figure 37: Plant-based proteins experience, by parental status, February 2021
    • Flexitarians on the lookout for plant-based options
      • Figure 38: Look for new plant-based proteins, by dietary preference, February 2021
  17. Attitudes toward Plant-based Proteins

    • Meat alternatives still not universally embraced as healthier
      • Figure 39: Attitudes toward meat alternatives, by dietary preferences, February 2021
    • Offer convenient options to appeal to parents…
      • Figure 40: Select opinions on convenience and plant-based proteins, by gender and parental status, February 2021
    • …but remain mindful of parent’s keen eye on ingredients
      • Figure 41: Select opinions on plant-based proteins ingredients, by gender and parental status, February 2021
    • Product placement is key to reaching wider customer base
      • Figure 42: Select opinions on plant-based meat alternative retail placement, by dietary preference, February 2021
  18. Appendix – Data Sources and Abbreviations

    • Data sources
    • Sales data
    • Forecast
    • Consumer survey data
    • Consumer qualitative research
    • Abbreviations and terms
    • Abbreviations
    • Terms – dietary preferences as defined in consumer survey
  19. Appendix – The Market

      • Figure 43: Total US retail sales and forecast of plant-based meat substitutes, at current prices, 2015-25
      • Figure 44: Total US retail sales and forecast of plant-based meat substitutes, at inflation-adjusted prices, 2015-25

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