2024
9
US Proteins and Protein Alternatives Market Report 2024
2024-04-24T09:02:15+01:00
REP3F3EA87A_81D6_4644_B600_25F719FFCABF
3695
172599
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Report
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Convenience and versatility pack a punch in protein. Strengthening the category means stressing protein's ability to fill bellies amidst economic uncertainty. Julia Mills, Food & Drink Analyst…

US Proteins and Protein Alternatives Market Report 2024

£ 3,695 (Excl.Tax)

Report Summary

Over 90% of US consumers have eaten animal-based protein in the past 6 months and almost half included plant-based proteins in their diet. This protein consumption is only expected to increase, and brands must keep up with consumer preferences and market trends to stay competitive. Below, we’ve provided the report scope, summarized the core topics analyzed, and hand-selected findings from the full report.

Report Scope

This Report covers the following categories:

  • Poultry: including packaged, refrigerated, random-weight poultry; poultry sold at “butcher counters”; refrigerated/frozen unprocessed poultry; and refrigerated/frozen processed poultry.
  • Packaged red meat: including beef (ground beef, steaks, roasts and other cuts of beef), pork (pork chops, pork cutlets and other cuts) and other red meat like lamb, mutton, goat, bison, venison and other game meats.
  • Fish and shellfish: fresh, uncooked fish and shellfish, such as salmon steaks and live lobster; refrigerated or chilled shellfish, such as lobster and crabmeat; frozen, uncooked fish and shellfish, such as frozen unprocessed shrimp and cod filets; frozen prepared seafood, such as fish sticks and heat-and-eat fish filets; shelf-stable fish and shellfish, such as tuna, crab, and sardines; other types of seafood, such as octopi and squid, which are not fish or shellfish, but are included in the broader seafood category.
  • Plant-based proteins: plant-based alternatives to poultry, red meat and fish and shellfish.

Core Topics Analyzed

  • Reported consumption of proteins and protein alternatives.
  • Anticipated change in protein and protein alternative consumption.
  • Motivations for increased protein and protein alternative consumption.
  • Attributes associated with protein and protein alternative types.
  • Animal-based protein purchase drivers.
  • Protein and protein alternatives market size.
  • Trends in launch activity for protein and protein alternatives and opportunities.

US Protein and Protein Alternatives Market Overview

The proteins and protein alternatives market in the United States is currently valued at $114.4 billion and is projected to grow over the next four years to 2028. Environmental and economic challenges of animal-based protein production such as drought, high feed prices, rising production costs, and issues like bird flu are impacting supply. Some consumers are seeking plant-based alternatives, with over half of food shoppers expressing concern about the environmental impact of meat production.

Protein Consumption Trends

Protein vs protein alternatives

Consumers stick to poultry and often red meat for affordability, convenience, and versatility, solidifying these segments as staples in many US households. Yet, plant-based proteins should not be overlooked. Consumed by almost half of consumers, protein alternatives are likely to be continuously trialed as environmental and health concerns remain.

Anticipated change in protein consumption

Improved access, health, and pricing factors alongside preference changes mean that under-utilized protein categories will be explored more. Particularly as inflation stabilizes, consumers are likely to try plant-based and seafood more than before. Unique health benefits will further encourage purchase. Educating consumers on these unique benefits will be vital in expanding growing segments sustainably.

Motivations for plant-based protein trial

Guilt is unlikely to be a motivator for consumers when it comes to plant-based protein trial, such as environmental responsibilities. Health advantages will be more appealing, coupled with the novel culinary experiences plant-based protein offers. Even though animal welfare and sustainability drive consumers to plant-based, health benefits and fixing the category’s “overly processed” image will develop a more convincing selling story.

For more crucial insights into the protein and plant-based protein market, buy the full report.

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Expert Analysis

Leading food and drink analyst Julia Mills delivers expert insights with this in-depth report.

Convenience and versatility pack a punch in protein. Strengthening the category means stressing protein’s ability to fill bellies amidst economic uncertainty.

Julia Mills, Analyst for US Food and Drink Reports
Julia Mills
Food & Drink Analyst

Table of Contents

  1. Executive Summary

    • What you need to know
    • Consumer trends: key takeaways
    • Market size and forecast
    • Market predictions
    • Opportunities
  2. market dynamics

    • Market drivers
    • Market context
    • Declining inflation in certain protein types will create growth opportunities for some segments
    • Inflated away-from-home food prices will continue to encourage at-home food consumption, especially of proteins
    • Optimistic financial outlooks egg on protein purchases
    • Graph 1: opinions on financial future, 2024
    • Protein's value equation morphs as confidence grows
    • Graph 2: headline CPI, core CPI, and shelter CPI, 2021-23
    • Graph 3: consumer sentiment index, 2021-24
    • Protein availability is threatened by the category's vulnerability
    • Demand for protein's health benefits fuels category growth
    • Graph 4: important factors in food shopping*, 2023
    • Future of plant-based meats lies in fickle hands
    • Graph 5: "Typically, how often do you limit your meat intake," by age, 2023
    • Cell meat turns heads in the category… but must hurdle barriers
    • Cooking: fun for some, yet a task for others to overcome
    • New to the kitchen, Gen Zs cooking skills are in need of a glow up
    • Graph 6: reported "basic" cooking skill level, by generation, 2022
    • Graph 7: consumers reporting cooking more than last year, by generation, 2022
    • Market size and forecast
    • Protein consumption sees steady growth
    • Retail sales and forecast of protein and protein alternatives
    • Retail sales and forecast of protein and protein alternatives, at current prices
    • Retail sales and forecast of protein and protein alternatives, at inflation-adjusted prices
    • Market segmentation
    • Protein segments "meat" moderate gains
    • Retail sales of protein and protein alternatives, by segment
    • Graph 8: total retail sales and forecast of proteins and protein alternatives, by segment, at current prices, 2018-28
    • Retail sales of protein and protein alternatives, by segment
    • Market share/brand share
    • Sales of protein and protein alternatives, by company
    • Sales of poultry, by company
    • Going au naturale may be the secret to success in poultry
    • Sales of red meat, by company
    • Convenience steaks its claim, propelling brands like Tyson to the upper cut
    • Sales of fish and shellfish, by company
    • Nippon Suisan Kaisha and Aqua Star make a splash amongst category losses
    • Sales of plant-based proteins, by company
    • Impossible and MorningStar grow amidst a wilting category
  3. Consumer Insights

    • Consumer fast facts
    • Types of protein consumed
    • Animal proteins lead, but plant-based adapts to changing consumption
    • Meat's on the menu for the long haul
    • Graph 9: dietary preferences, 2022-24
    • Versatility and nutrition power usage of protein types
    • Graph 10: types of protein consumed, 2024
    • Gen Z's protein patterns: less routine, more spontaneity
    • Graph 11: types of protein consumed, by generation, 2024
    • Gen Z vibes with diet diversity
    • Graph 12: Millennial dietary preferences, 2022-24
    • Graph 13: Gen Z dietary preferences, 2022-24
    • Staple proteins stand firm through economic turbulence
    • Graph 14: types of protein consumed, by household income, 2024
    • Plant-based protein symbolizes a social status
    • Graph 15: protein types consumed, by age and income, 2024
    • Plant-based proteins gain parental approval
    • Graph 16: types of protein consumed, by parental status, 2024
    • Anticipated change in protein consumption
    • Shifts in perception fuel growth of lesser-used proteins
    • Graph 17: anticipated change in protein consumption, 2024
    • Plant-based protein consumers come back for seconds
    • Graph 18: anticipated change in protein consumption, 2024
    • Gen Z turns to BOTH animals and plants for their protein fix
    • Graph 19: anticipated increase in types of protein consumption, by generation, 2024
    • Tight budgets strengthen reliance on staples
    • Graph 20: anticipated change in poultry consumption, by household income, 2024
    • Graph 21: anticipated change in red meat consumption, by household income, 2024
    • Limited perceptions stunt seafood and plant-based protein growth
    • Graph 22: anticipated change in seafood consumption, by household income, 2024
    • Graph 23: anticipated change in plant-based protein consumption, by household income, 2024
    • Motivations for increased plant-based protein consumption
    • Health and novelty cultivate plant-based trends
    • Graph 24: motivators for increased plant-based and meat alternatives consumption, 2024
    • Plant-based protein motivators: rooted in health, diversity and personalization
    • Graph 25: "any rank" motivators for increased plant-based and meat alternatives consumption, by generation, 2024
    • Safety wins, but nutritional concerns loom
    • Graph 26: "any rank" motivators for increased plant-based and meat alternatives consumption, by parental status, 2024
    • Deliver on nutrition in plant-based, kid-focused proteins
    • Attributes associated with protein types
    • Staple proteins have established reputations
    • Graph 27: attributes associated with types of protein, 2024
    • Perceptions may strengthen (but also limit) growth
    • Establish regular habits with lesser-used proteins
    • Graph 28: protein types associated with "good for everyday," by generation, 2024
    • Boost animal-protein perceptions through education and culinary guidance
    • Graph 29: attributes associated with red meat, by generation, 2024
    • Graph 30: attributes associated with poultry, by generation, 2024
    • Animal-based protein purchase drivers
    • Quality is #1 in animal-sourced protein purchase drivers
    • Graph 31: animal-based protein purchase drivers, 2024
    • Handhold younger consumers during the purchase process
    • Graph 32: animal-based protein purchase drivers, by generation, 2024
    • Emphasize value beyond low price
    • Graph 33: animal-based protein purchase drivers, by household income, 2024
    • Factors that make an animal-based protein healthy
    • "Steak" claims on natural
    • Graph 34: factors that make an animal-based protein healthy, 2024
    • Engage younger consumers with clear and natural protein claims
    • Graph 35: factors that make an animal-based protein healthy, by generation, 2024
    • Link claims to tangible health benefits for children
    • Graph 36: factors that make an animal-based protein healthy, by parental status, 2024
    • Protein attitudes
    • Inspire diversity in protein consumption
    • Graph 37: attitudes towards protein, 2024
    • Simplify protein benefits to combat information overload
    • Graph 38: attitudes toward protein, by generation, 2024
    • Connect protein with satiety during times of financial insecurity
    • Graph 39: attitudes toward protein, by household income, 2024
  4. Competitive Strategies

    • Launch activity and innovation
    • Brands put the "plant" back in "plant-based"
    • Fuel the day with on-the-go proteins
    • Downsize packaging to maximize convenience
    • Graph 40: [no title]
    • Smaller formats inspire experimentation and create new snacking occasions
    • New product launches "meat" demand for ease and convenience
    • Graph 41: percent of protein launches with convenience-related claims, 2019-23
    • Brands strengthen convenience with pre-cooked and ready-to-heat
    • Brands ramp up accessibility to ease cooking time hassles
    • Graph 42: Giant Eagle Peruvian-style Marinated Chicken Breast performance, 2024
    • Brands egg-splore the three S's of flavor: sweet, spicy & smoky
    • Brands embrace global flavors
    • Nutrition labels get cleaned up with all-natural claims
    • Graph 43: launches of protein products by claim, 2019-23
    • Meat and veggies: a fusion of both flavor and nutrition
    • Marketing and advertising
    • Make mealtimes less high-steak
    • "Less is more" when it comes to usage ideas
    • Help consumers "sea" through the weeds
    • Sustainability means nothing without beefed-up claims & storytelling
    • Brands proactively develop eco-friendly proteins for Earth's benefit
    • Brands provide serving sizes for ridin' solo consumers
    • Opportunities
    • Tackle cooking dilemmas with a variety of meaty methods
    • No cap, Gen Z's need help in the kitchen
    • Promote plant-based proteins without using fear or shame tactics
    • Plant-based proteins: complimentary options, not animal-protein rivals
    • Take notes from the beauty industry
    • Prove that plant-powered proteins are nothing to veg out about
  5. Appendix

    • Market definition
    • Consumer research methodology
    • Correspondence analysis methodology
    • Generations
    • Abbreviations and terms
    • Forecast
    • Forecast fan chart
    • The market
    • Retail sales and forecast of protein and protein alternatives, at current prices
    • Retail sales and forecast of protein and protein alternatives, at inflation-adjusted prices
    • Retail sales of protein and protein alternatives, by segment
    • Average annual household spending on proteins and protein alternatives
    • Total retail sales of proteins and protein alternatives, by segment, at current prices
    • Total retail sales and forecast of poultry, at current prices
    • Total retail sales and forecast of poultry, at inflation-adjusted prices
    • Total retail sales and forecast of red meat, at current prices
    • Total retail sales and forecast of red meat, at inflation-adjusted prices
    • Total retail sales and forecast of fish & shellfish, at current prices
    • Total retail sales and forecast of fish & shellfish, at inflation-adjusted prices
    • Total retail sales and forecast of plant-based proteins, at current prices
    • Total retail sales and forecast of plant-based proteins, at inflation-adjusted prices
    • Total retail sales of proteins and protein alternatives, by channel, at current prices
    • Sales of protein and protein alternatives, by company
    • Sales of poultry, by company
    • Sales of red meat, by company
    • Sales of fish and shellfish, by company
    • Sales of plant-based proteins, by company

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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