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    Breaking News

    Plant-Based Products Market Accelerates with Diverse Ingredients, New Investments

    Spectrum of consumer interests leads to range of opportunities for new product development.

    Plant-Based Products Market Accelerates with Diverse Ingredients, New Investments
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    10.01.21
    Plant-based—a top trend according to Innova Market Insights for several years now—continues to move into the mainstream, expanding into new categories and regions.
     
    Innova’s consumer research highlights a need for choice and multiple product positionings as there is no single definition of a “plant-based customer.” Instead, the category is drawing almost equal attention from health champions, eco-warriors, and ethical shoppers. Although vegetarianism and veganism continue to attract new supporters, the flexitarian movement is growing even faster. Innova research shows that 60% of global households now eat meat-free meals at least once a week, many enticed by the variety it brings to their diet.
     
    New product development also demonstrates the segmentation of plant-based eating. “‘Plant-based’ descriptors are now being carried by many diverse products, well beyond the core meat- and dairy-alternative categories,” said Lu Ann Williams, global insights director at Innova Market Insights. “The Innova Database shows particularly good growth for ‘plant-based’ claims in categories such as sauces and dressings, prepared meals, spreads and snacks.”
     
    The need for product variety and diverse positionings is also shaking up choice in ingredients. There is a growing interest in more sustainable protein crops, such as legumes and marine plants, while fermentation technology is allowing protein production from unique sources like yeast, wood and even the air itself. For example, in the U.S., Air Protein says it has mixed CO2, oxygen and nitrogen with water and minerals to create a nutrient-rich flour with the same amino acid profile as animal protein.
     
    Investment is also helping to advance technologies for cultured meat production, believed by many to be the future of meat supply. Although cultured meat can compete with plant-based products on environmental benefits, it may still fall short with health-conscious customers. This is a further indication of the need for variety and choice to maximize the potential of the plant-based revolution.
     
    Innova will be bringing its knowledge of plant-based alternatives and other trends driving health and nutrition to Vitafoods Europe in Geneva. Nicole Jansen, insights & innovation team manager, will be hosting a presentation at Vitafoods on “Functional Nutrition: Health now and in the future.”
     
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