Is the plant-based market still relevant?

So, how can plant-based regain its strength? What areas of innovation should plant-based manufacturers be focusing on? And should the cost of plant-based to consumers be lowered? The good news is the plant-based market remains relevant, especially for meat alternatives. The data varies, but between a third and half of consumers are trying to eat less meat in 2024, HarrisX figures show. While environmental organisations like Madre Brava are pushing retailers to work harder too, urging European supermarkets to adopt 60% plant-based protein targets.

There are other pockets of hope too. In the UK, under the Plant Futures banner, retailers and manufacturers have joined forces with a view to kickstart the category into strong growth through a combined effort. The lost growth can be regained, says the organisation’s founder Indy Kaur. “Brands are shifting their [sales] focus onto open omnivores rather than flexitarians and vegans as it’s a bigger dietary group,” she explains. “Open omnivores are meat eaters open to trying more plant-based food while reducing their meat consumption.” However, to build longevity, the category must appeal to meat eaters and “start to think about them more than ever”, she advises.

Plant-based taste can be an issue

According to Kaur, two factors let the plant-based category down – taste and apathy. “During Covid there was a natural uplift in sales, people were trailing plant-based more, but it was impossible to keep hold of all those new consumers.

They lapsed because their needs weren’t met,” she argues. In fact, according to the GFI, 51% of consumers who tried plant-based meat were not interested in eating it again because of the taste. “People have had poor taste experiences and don’t want to come back to the category, but worse is they often can’t remember what product they’ve tried and by which brand, so there’s a need to build brands retention.”

There’s also an argument that many plant-based meat alternatives are ultra-processed, which Kaur acknowledges, nodding to “some nutritional issues”. Yet, another sector trailblazer bringing the industry together is Plant-Based Food Alliance founder Marisa Heath, who dismisses this as a big issue. While Heath acknowledges the category does contain processed products, “there are positive ingredients like soya, which has decades of health nutrition and science behind it and we should be making the benefits clear around this”.

The health virtues of plant-based

Soya was the category’s conversational mainstay for years, but has been somewhat relegated as food tech delivered many alternatives. “I think there’s an element of being a little too smart,” says Heath when asked if the category should go back to the basics of bean burgers and nut roasts. “But being smart comes with benefits like fortification for health, which plant-based is not expressing enough.” When it comes to cost, Heath argues the inputs for plant-based manufacturers are higher than their non-vegan counterparts as the markets usually aren’t as established.

However, Kaur believes cost is not a barrier to sales success. “Vegans or flexitarians will talk about cost as an excuse [not to buy], but for omnivores it’s more about being satisfied; the barriers go well beyond price for these people,” she says, and highlights the success of the dairy milk alternative category, which costs more than cows milk, as a working example of price not being a barrier.

But both Kaur and Heath agree plant-based food manufacturers must focus more on taste to reverse the decline in sales. “We have to focus on getting the products right for meat eaters, because they are the ones who need convincing and retaining in the category,” says Kaur. Yes, the category’s struggles have been universally acknowledged and the barriers to growth defined. However, those with a vested interest in the sector are focusing on the solutions and developing the plant-based category’s future.