Rise of plant-based proteins for health and vegan trends
With the growing demand for protein, interest in plant proteins is also rising. According to a report by Markets and Markets, the global plant-based protein market size is projected to grow from USD 10.3 billion in 2020 to USD 14.5 billion by 2025, recording a CAGR of 7.1% during the forecast period. This is attributed to the growing usage of pea protein in the food industry and innovation in the technologies used for the extraction of plant-based protein.
Multiple factors are contributing to this growth, such as food safety concerns, ethically sourcing, environmental concerns, increased food intolerances, allergies, sustainability, improved availability of vegetarian and vegan foods, and the adoption of proactive approaches to health and wellbeing by consumers. These factors can resonate with all types of consumers, meaning that the increasing number of vegetarians and vegans is not the only place that demand for plant protein is coming from.
As plant-based protein diets grow across the globe, plant-based foods are a key area for innovation
Meat companies are even creating alternatives to meats to cater to the vegetarian sector, helping them avoid the risk of shutting out a growing area of the market. Proprietary technologies that require minimal processing while retaining ingredient nutrients are now able to produce plant-based protein options such as bars, meat supplements, snacks, and cereals. This kind of innovation is also useful to cater for the gluten-free market, using lentils, peas or chickpeas to create pasta, and Cassava Flour is gaining momentum as a “go-to” gluten-free, grain-free flour.
Health is one of the main drivers for the consumption of plant-based proteins, but as with any food, the taste is also critical. The challenge moving forward will be for businesses to find ways to meet the needs of consumers with vastly different dietary and taste preferences, especially when a majority of consumers report no specific dietary restrictions. Plant-based is driven by Millennial and Generation X consumers, who endeavour to incorporate healthy and nutritious food into their lives, beyond those with restrictive diets and food sensitivities.
Plant-based diets are more environmentally sustainable than animal-based diets
This is due to the use of fewer natural resources and less environmental damage caused by their production. Livestock is typically fed with plants rich in protein, so if we consume the plant protein directly instead, we can avoid the resource inputs required to raise the livestock.
To successfully satisfy the needs of consumers, food and beverage manufacturers need to take this into account along with the need to complement amino acid profiles of different plant proteins to create a complete protein source when creating protein products. By utilising processing technologies to improve texture, as well as choosing applications that complement the flavour of plant proteins, it is possible to deliver the benefits of plant protein in a way that delivers on the taste expectations of consumers. Specific opportunities include snacking, non-dairy drinks, pre-prepared vegetables, and meat alternatives.
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