US Plant-based Proteins Market Report 2024

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.

US Plant-based Proteins Market – Current landscape

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.

US Plant-based Proteins Market Report – What’s Inside?

Key topics analysed

• External factors impacting the plant-based protein market.
• Plant-based protein market size and forecast.
• Key players and market innovation.
• Consumer dietary preferences and protein choices.
• Changes in plant-based protein consumption, reasons for increasing and decreasing.
• Plant-based purchase priorities, purchase incentives and interest in innovation.
• Attitudes toward plant-based proteins.

Report Scope

For the purposes of this Report, Mintel has used the following definitions:

• Plant-based proteins: plant or vegetable-sourced proteins, such as beans/legumes, nuts, seeds and grains. Also includes semi-processed sources (tofu, seitan), processed veggie burgers (Morningstar Farms) and processed meat alternatives (Beyond Meat).
• Natural PBPs: refers exclusively to natural, non-processed or lightly processed (seasoned canned beans) plant proteins such as lentils, beans and chickpeas.
• Plant-based meat alternatives: processed plant-based products designed to replicate the taste, texture and appearance of meat. It includes brands such as Beyond Meat, Impossible Foods, Lightlife Foods, Tofurky and Gardein.

Meet the Expert

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