Exploring The Consumer Potential of Plant-Based Alternatives
Plant-based alternatives have exploded in recent years, and by 2030 the total market value is predicted to surpass a whopping $161 billion. The steady growth of this market goes hand-in-hand with another trend: consumers are increasingly being spoilt for choice.
Alternatives products are expanding and evolving in order to offer the same variety as the conventional meat market. Innovative technologies are helping new plant-based products rival animal products in look, taste, texture, and even nutrition.
This infographic from the Very Good Food Company (VGFC) provides a detailed look at the range of plant-based alternatives that could take the market’s consumer potential to the next level.
The Universe of Plant-Based Alternatives
There are four major categories for plant-based meat: natural meat mimickers, functional meat substitutes, meatless meat, and vegetable-forward products. How do they stack up?
Natural meat mimickers Provide meatless products with a savory mouthfeel, and are naturally high in fiber /protein Examples: Legumes e.g. beans peas, lentils, pressed vegetables, mushrooms, jackfruit
Functional meat substitutes May not taste exactly like meat, but have similar textures and flavors Examples: Textured vegetable protein e.g. soya chunks, Unprocessed binders e.g. zucchini, carrot, coconut, beans, tofu, tempeh, seitan
Meatless meat Replicates meat’s typical characteristics, sometimes by combining natural meat mimickers and functional meat substitutes Examples: Impossible Burger,
Beyond Burger
These products appeal to “flexitarian” consumers, but can be highly processed
Vegetable-forward Doesn’t try to replicate meat exactly, and are usually made only with vegetables and binders Vegetable burgers
In addition, consumers are increasingly considering the entire supply chain of how a plant-based product goes from bean to burger, into their purchasing decisions.
Massive Market Potential
However, plant-based meat is only one piece of the puzzle contributing to the consumer potential of the industry. Many consumers are also now opting for plant-based alternatives to other products that typically come from animals, from dairy and eggs to honey and gelatin.
Dairy alternatives🥛🧀
Plant-based milk, butter, and cheese can be made from nuts (almond, cashew), while other varieties come from oat, soy, avocado, and peas
Eggs🥚
Natural alternatives include tofu, but recent products have been made from legumes such as mung beans, with turmeric or carrots for color
Honey🍯
Natural alternatives include maple syrup, or concoctions made from apple juice and sugar
Gelatin🦴
Natural alternatives such as agar agar are made from algae or seaweed
The plant-based industry is brimming with new avenues for demand. But to truly reach a wide range of consumers, all these alternatives must also be appetizing and affordable.
Click here to learn how the Very Good Food Company is poised to become a global leader in the space with its great tasting and affordable variety of organic options.
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