Plant-based eating has become a mainstream movement. Globally retail sales of plant-based foods have experienced strong growth.
Meat and dairy continue to drive plant-based sales. Leading drivers of plant-based sales continue to be meat and dairy alternatives, including milk, cheese, yoghurts and ice cream.
Sales of meat and dairy alternatives continue to be the leading drivers in plant-based sales, including new brands in the milk, cheese, yoghurt and ice cream categories experiencing the most rapid growth.
Expect to see more movement in the spreads, dips and sauces as artisanal producers focus on NPD in this category. Globally, these emerging plant-based dairy categories experienced the most rapid growth in the majority of markets.
The plant-based meat category is one that in New Zealand has been slower to grow than overseas; however, we are now seeing more brands entering the market to meet consumer appetite for alternatives.
Increasingly, as consumers make the switch to foods that match their desire for more sustainable options, the COVID-19 pandemic has also impacted the category with consumers looking for healthy options, particularly in the meat alternative category.
Plant-based foods aren’t new, but they are no longer niche targeting only vegetarians and vegans, they are now gaining mainstream attention. This move is the driver for growth.
As more brands bring next-generation innovations to market that deliver on the most critical driver of consumer choice, taste, plant-based is undoubtedly hotting up as the trend of 2020.