Plant-Based Diets in Consumer Goods and Foodservice – Thematic Intelligence

Plant-Based Diets in Consumer Goods and Foodservice Thematic Report Overview

The pandemic has accelerated consumer interest in meat substitutes which has enabled companies to formulate innovative products that have been heavily marketed, resulting in an increase in sales. Additionally, technological advances have further enabled the supply chain process of meat substitutes, with 3D Printing and E-commerce to increase efficiency. The pandemic has created a heightened awareness of consumers’ health, resulting in the desire for healthier food and beverages such as plant-based meat and dairy.

The Plant-Based Diets in Consumer Goods and Foodservice thematic intelligence report provides insights on the latest plant-based diet trends in FMCG and who are the leading companies in the theme. The report also identifies emerging formulation strategies to help better position your company.

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Plant-based Diets Value Chain Analysis

The key value chain components in the plant-based diets theme are the supplier, manufacturer, consumer drivers, brand and product attributes, and sub-trends.

Supplier and manufacturer segments: Supply chain management in consumer goods and food service is the management of the procurement of raw materials, which is offered by the supplier through to the manufacture and distribution of finished goods. From end-to-end of this process in plant-based food and drinks there are multiple touch points and processes to ensure everything is managed smoothly and safely. The role of improving supply chain management in most organizations is to optimize efficiencies and maximize cost-effectiveness. Due to the broad nature of supply chain management, the planning landscape can often be quite fragmented with several different inputs and variables. Therefore, new ways of managing supply chains, often utilizing technology can be of great benefit to FMCG and food service companies. In a global context of changing consumer behaviors and values, effective supply chain management can also aid distribution and the flow of information. Linked with this, is also the topic of sustainability which consumers are demanding more transparency on, and supply chains need to adapt to manage such things as waste reduction.

Plant-based Diets Value Chain Analysis

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Plant-based Diets in Consumer Goods and Foodservice Trends

The main trends shaping the plant-based diets theme over the next 12 to 24 months are classified into macroeconomic trends, technology trends, and regulatory trends.

Macroeconomic Trends: The main macroeconomic trends shaping the plant-based diets theme over the next 12 to 24 months are the rise of direct-to-consumer (D2C) meal kits, focus on health and wellness, and ESG among others.

Technology Trends: The main technology trends shaping the plant-based diets theme over the next 12 to 24 months are the rising use of 3D printing in consumer goods and food service companies and the growing popularity of online retail.

Regulatory Trends: The main regulatory trends shaping the plant-based diets theme over the next 12 to 24 months are the plant-based alternative labeling terminology ban in France, the vegan cheese ban in Turkey, and the European GMO authorization law.

Plant-based Diets in Consumer Goods and Foodservice Industry Analysis

Despite challenging periods, plant-based consumer goods have witnessed a rise in demand. According to GlobalData’s Market Analyzer, both dairy alternatives and meat substitutes have increased in value during 2018-2022. In the long term, the plant-based categories are expected to increase at an even faster rate. GlobalData forecasts dairy alternatives and meat substitutes to increase during 2022-27. Also, many consumers are willing to pay more for plant-based products rather than cheaper options. Compared to other categories, the meat substitutes sector shows the highest growth between 2017 and 2022 in terms of both value and volume.

Global: 2018-2027 Plant-Based Value in Consumer Goods ($ Million)

The plant-based diets in consumer goods and foodservice industry analysis also covers –

• Mergers and acquisitions
• Venture financing trends
• Timeline

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Plant-Based Diets in Consumer Goods and Foodservice – Competitive Landscape

The key companies in the plant-based diets in consumer goods and foodservice theme are often classified as:

Public Companies

• BRF
• Beyond Meat
• Campbell’s

Private Companies

• ABP Food
• Amy’s Kitchen
• Arla

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Plant-Based Diets in Consumer Goods and Foodservice – Scorecard Analysis

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the major themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
• The risk screen ranks companies within a particular sector based on overall investment risk.

Meat and Meat Substitutes Scorecard Analysis – Thematic Screen

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Other Sector Scorecard covered in the report is:

• Dairy and dairy alternatives sector scorecard

Scope

• Consumers’ growing affinity for natural/organic ingredients is paving the way for plant-based foods and beverages with such claims.
• Given their experience of the COVID-19 pandemic, consumers are expected to focus more on fresh, homegrown ingredients that offer functional benefits.
• Rising diagnosis of food allergies and intolerance to certain ingredients, coupled with consumer desire for specific diets, will drive producers to omit ingredients such as fat, cholesterol, and lactose.

Key Highlights

• Consumers’ growing affinity for natural/organic ingredients is paving the way for plant-based foods and beverages with such claims.
• Given their experience of the COVID-19 pandemic, consumers are expected to focus more on fresh, homegrown ingredients that offer functional benefits.
• Rising diagnoses of food allergies and intolerance to certain ingredients, coupled with consumer desire for specific diets, will drive producers to omit ingredients such as fat, cholesterol, and lactose.

Reasons to Buy

• Gain insight into the latest plant-based diet trends in FMCG and who are the leading companies in the theme.
• Identify emerging formulation strategies to help better position your company.
• Discover how rapid enforced changes over the past year will influence consumer reactions.