Improved Nature – November 24, 2020
2020 Consumer Behavior Proves Plant-Based Products are Here to Stay
The plant-based trend has finally reached the masses. The industry is relishing in a record-breaking year, and in many grocery stores, plant-based products are the fastest-growing segment. Google Trends data even suggests that vegan-related searches hit an all-time high this year, fueled by increased global interest in the category.
Last year, Innova Market Insights even named the “Plant-Based Revolution” as one of the top ten trends to watch for in 2020. The research also noted that 60% of its survey respondents prefer products labeled “plant-based”, as opposed to “vegan” or “vegetarian”, illustrating clear consumer demand for more plant-based products.
In addition, a recent report by GFI estimates that total plant-based food sales in the U.S. reached $5 billion in 2019, while noting that the category was growing nearly 14 times faster compared to total food sales. As the plant-based industry continues to boom, we predict there will be many changes in the grocery aisle to reflect this shift in the years to come.
Shoppers everywhere are starting to show more interest in the health benefits associated with plant-based foods as well. With consumer awareness and interest on the rise, many have begun adding plant-based foods of all types to their diets, especially during the pandemic.
The GFI report also suggests that nearly 25% of consumers are actually eating more plant-based meals and less traditional meat due to factors associated with COVID-19. Some consumers have cited environmental concerns, dietary changes, and meat shortages as a few key reasons for their interest in plant-based meats. The data strongly suggests that plant-based foods are not just another trend: a worldwide consumer buying behavior shift is taking place.
As consumer demand increases, so does product options and availability. At your local grocery store, you can now find many plant-based staples, including plant-based cheese, milk, meat, and more. New innovations will continue to drive growth in the sector, and new plant-based alternatives have an unparalleled opportunity to capture precious market share in these previously untapped segments.
Earlier this year, the Plant Based Foods Association conducted a test in Kroger stores where they found that plant-based meat sales increased by 23% on average when placed within the store’s meat department.
With plant-based foods now more popular than ever, it’s safe to say the movement has now reached mainstream status. This is evident in the fact that we have also seen major fast food restaurants pick up plant-based food items for their menus, such as Burger King, Del Taco and Dunkin’ to name a few.
As the industry continues to evolve, we expect to see plant-based alternatives pop up for nearly every category of food imaginable. Consumers have spoken and the plant-based foods movement is here to stay.
Improved Nature’s plant-based proteins represent an excellent example of innovative products contributing to this major industry shift. To purchase products and try them for yourself, or to purchase products in bulk, visit www.improvednaturedirect.com. To discuss how to integrate plant-based products into your business offerings, send us a message here.
