“Plant-based” is the most recent buzzword gracing the covers of magazines, cookbooks, and meals packaging. Nevertheless, it might be a mistake to downplay plant-based diets as nothing greater than a fad or media hype—plant-based merchandise comprise a fast-growing market with enduring momentum and ongoing funding and innovation.

The brand new market analysis report Vegan, Vegetarian, and Flexitarian Shoppers by Packaged Info uncovers the next key insights into the plant-based market.

1. Since 2017, the U.S. plant-based market has practically doubled in dimension and has been rising far more quickly than the general meals market, in response to knowledge collectively launched by the Plant Primarily based Meals Affiliation (PBFA) and the Good Meals Institute (GFI). In 2021, the most important product classes included plant-based milk and plant-based meat, whereas the quickest rising class was plant-based eggs.

2. Extra customers turned to plant-forward diets in the course of the pandemic to help their total well being. Packaged Info’ Could 2022 Nationwide On-line Shopper Survey indicated that 30% of customers had been nonetheless consuming extra recent produce than they did pre-pandemic.

3. Most customers are extremely involved about inflation and the rising price of meals. In Packaged Info’ Could 2022 survey, 63% of customers reported being very involved about rising meals costs. Growing costs for meat are main some customers to scale back their consumption of meat or purchase inexpensive substitutes akin to beans and lentils.

4. Flexitarians stay a key goal marketplace for plant-based meals as a result of they make up a a lot bigger portion of the inhabitants than vegans and vegetarians. (“Flexitarian” is brief for “versatile vegetarian,” and is a time period used to explain individuals who observe a semi-vegetarian food regimen however often eat meat, poultry, or seafood).

5. Vegans, vegetarians, and flexitarians usually tend to be youthful within the 18-44 age vary encompassing Technology Z and Millennial customers. Youthful customers usually tend to worth wholesome, recent meals and are open to exploring new merchandise. In distinction, the 65 and up age group is the least prone to observe vegetarian or vegan diets.

6. Family revenue additionally performs a job in folks’s consumption of plant-based meals. As a result of customers with increased incomes have the flexibility to pay for premium meals—akin to recent, entire meals and natural, sustainable, and clean-label merchandise—they’re extra prone to observe particular diets akin to veganism or vegetarianism. As well as, folks residing in city areas usually tend to think about themselves vegetarian, semi-vegetarian, or vegan. Cities have a tendency to supply extra vegan eating places and plant-based merchandise in shops.

7. Non-white client teams are usually extra plant-forward than white customers, and these teams additionally are inclined to skew youthful and stay in city settings. Non-white customers usually tend to observe Hinduism, Islam, and Buddhism, which have some dietary restrictions which will have an effect on consumption of sure animal merchandise.

Discover Out Extra

To be taught extra concerning the state of the plant-based business in 2022, you should definitely learn Vegan, Vegetarian, and Flexitarian Shoppers, 2nd Version, the go-to supply for an entire understanding of U.S. client traits relating to plant-based and plant-forward consuming. This report combines Packaged Info’ intensive monitoring of the meals and beverage market with proprietary surveys, and evaluates present traits and future instructions for plant-based advertising and marketing and retailing, together with client patterns in the course of the pandemic and throughout the broader meals and beverage market.

About Packaged Info: Packaged Info publishes market intelligence on a variety of client market subjects, together with client demographics and shopper insights, client monetary services, client items and retailing, and pet services. Packaged Info additionally affords a full vary of customized analysis providers. Reviews could be bought at our firm web site and are additionally out there by way of MarketResearch.com.