The plant-based industry has undergone significant fluctuations in the past decade, from a peak in the late 2010s to rumors of decline less than ten years later. While some early adopters have returned to animal products, the challenge now lies in enticing newer members to embrace the meat-free lifestyle.
One main reason why consumers hesitate to choose plant-based alternatives is the perceived cost. Many believe that plant-based products are more expensive than animal-based options, a belief supported by the Good Food Institute’s assertion that plant-based options are priced at a premium. This affordability barrier is particularly challenging for consumers in Europe facing financial hardships due to the rising cost of living.
Despite cost concerns, some plant-based products like beans and lentils are more affordable and gaining popularity. The Vegan Society’s Live Vegan for Less campaign found that many shoppers are choosing budget-friendly vegan protein sources to save money. However, the plant-based industry is aware of the cost barrier and is actively working to address affordability issues to make plant-based options more accessible.
Apart from cost, taste and texture are other factors that deter consumers from choosing plant-based foods. Off notes and objectionable flavors can be common in meat-free alternatives, impacting the overall experience for consumers. Researchers and industry experts are collaborating to improve flavor profiles and texture using innovative solutions like alternative proteins such as cyanobacteria.
Additionally, concerns around ultra-processed foods associated with plant-based products often lead consumers to prioritize taste and texture over processing methods. Despite these challenges, the plant-based industry expects to become more competitive in the coming years by reducing prices and enhancing product quality.
Government support for the plant-based industry is crucial in creating a more sustainable food system. Environmental experts urge governments to promote the consumption of plant-based foods and shift away from incentivizing conventional animal and dairy production. By addressing cost barriers, improving taste and texture, and encouraging government support, the plant-based industry aims to become a more viable and competitive sector in the food and beverage market.