The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJul 2018
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The Euromonitor Environmental Impact Score highlighted that animal proteins (especially beef) are the most detrimental of all protein sources to our environment. Today there is still a huge dependence on animal ingredients, even in staple packaged food products, yet parallel to this is increasing demand for animal-free lifestyles and sustainability. This briefing discusses the opportunities that lie within the plant-protein world, and how these fit a pragmatic vision of a sustainable future.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
According to survey data consumers increasingly believe that their everyday actions have a direct impact on the environment. Possibly partly as a result of this, there are growing numbers of vegetarians in 30% of countries researched at Euromonitor.
Cows’ milk and meat consumption have seen declining sales in recent years, parallel to which is growing consumption of plant-based alternatives. Strong growth for the categories such as meat and dairy milk alternatives can now be seen in several developed and developing markets.
As high-protein foods continue to show new product developments, more often than not these contain plant-based protein sources. Nevertheless, the use of animal-derived ingredients still dominates over plant-based alternatives, especially in staple food categories such as baked goods and cereals.
Though demand for plant-based foods is increasing, there is still a lack of labelling that indicates the adequacy of foods for vegan and vegetarian lifestyles. Much of this could be caused by discrepancies and lack of consistency in the definition and labelling of “vegan” from market to market.
Terms such as “milk” or “sausages” are widely used among plant-based products, even when their taste or nutritional composition differs from animal-based ones. Consequently an increasing number of legislations ban the use of such terms on plant-based foods to prevent misleading the consumer.
Though still a novel market, plant-based foods are seeing growing interest from consumers and food manufactures. This has resulted in new product developments and partnerships involving even traditional meat producers.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.