The 2024 Plant-Based Protein Trends to Watch
1. Claims Growing in Plant-Based Dairy Alternatives
Vitamin/mineral fortified is the fastest-growing claim (+88.3% CAGR) globally in recent launches of plant-based dairy alternatives, with fiber (+44.4%) and protein claims (+37.0%) also on the rise.1 Brands are carefully formulating products to appeal as a nutritious alternative to dairy, rather than just appealing on taste and environmental sustainability. At the same time, environmental claims are also showing high growth (+73.2%) in plant-based dairy launches.2
2. Expansion in Plant-Based Meat Formats
Plant-based meat startups and big brands alike are innovating to expand consumer options, particularly in new formats. Recent product launches beyond the standard burger include Mr. Vege Vegetarian Mutton (Malaysia) and Vega Plant Based Shawarma (Israel). Despite the array of plant protein ingredients now available, soy protein continues to dominate in new plant-based meats (helping address consumers’ need for more affordable plant-based products).3
3. Kids Consuming More Plant-Based Products
Globally, 29% of parents have increased the amount of plant-based meat or dairy in their children’s diets in the past year.4 Asia is outpacing the global average, with 46% of parents in India, 31% in China, and 30% in Indonesia feeding their kids more of these products.5 Whether parents’ motivations are related to health, availability, or cost, this trend is creating a key opportunity in plant-based meals and healthy protein snacks for kids.