Report Reveals How Brands Can Capitalize on Plant-Based Protein Trends in 2024

A recent survey conducted by the Plant Based Foods Association and The Good Food Institute highlights the growing trend towards plant-based proteins among consumers. Despite the consistent growth in the market, many consumers remain unfamiliar with plant-based products, representing a significant untapped market. Health perceptions also play a role, with some consumers believing plant-based products are less healthy than animal-based counterparts. However, the survey revealed that a majority of consumers are actively seeking to increase their protein intake and are satisfied with the taste and texture of plant-based proteins once they try them.

The survey identified taste and texture concerns, visibility in stores, and the need for education and familiarity as key barriers and opportunities for brands in the plant-based protein market. Demographic insights showed that younger consumers are more familiar with and willing to consume plant-based proteins, while those following non-traditional diets are more likely to demand plant-based options. Overall, retail strategies, restaurant strategies, and educational initiatives were highlighted as key opportunities for brands to capitalize on the growing trend towards plant-based proteins in 2024.