Plant-based meat and dairy alternative prospects – special report

Whether for nutritional and health benefits or their desired environmental and sustainability profile, the ascendence of plant-based eating has emerged rapidly, becoming a prevalent dietary tenet for a diverse consumer segment. Innovations in plant-based formulation have made products more diverse and appealing for more consumers–but how did “plant-based” become so pervasive in our cultural lexicon? 

Broader consumer attitudes about diet and health have been shifting toward wellness for some time, but this rising trend was further bolstered in 2020 by a global pandemic. With emergent health concerns and more transparency around global supply chains, the idea of a plant-based lifestyle catapulted into the mainstream. Today, these ideas are driving innovation and new product development, fostering one of the most significant long-term food and beverage growth trends in recent memory. Plant-based eating is a good fit for modern health and wellness goals on several counts. 

This latest special report dives into concepts propelling this expansion. New data suggests that plant-based products could make up 7.7% of the global protein market by 2030, with an estimated value of $162 billion–up from a predicted $44.2 billion in 2022, suggesting that while plant-based dairy alternatives currently make up the largest share of the global market, by the end of this decade–while all segments will grow–plant-based meat alternatives will make up the largest share, overtaking alternative dairy.

Read the full special report to learn more specifically about market white-spaces that are ripe for new product development and how to deliver formulations that anticipate the growing desire for plant-based solutions in the meat and dairy cases.