Plant-based protein is a continuing trend, with food and beverage companies seeking to use plant-based ingredients as supplements or as the main attraction of their new product development.
With products that carry a plant-based claim perceived as healthier and better for the planet, the topic gets special attention from younger consumers, who tend to pay extra attention to the sustainability of the food they eat and are often eager to try new foods and dietary concepts.
According to Innova Market Insights the plant-based, vegan, and vegetarian categories all show positive growth, with plant-based having the lowest penetration but fastest growth.
"Pure vegetable": a recipe for success
There has been a 9% average annual growth of innovation based on plant protein, according to Innova Market Insights (Global, CAGR, July 2021 - June 2022). Pea protein has become the preferred option for plant-based innovators and was also the top plant protein ingredient in 2021, followed by soy protein. Fava bean protein, vegetable protein, wheat protein and seed protein are among the fastest growing plant protein ingredients in F&B.
Plant-based proteins across categories
The table below shows top market subcategories as a percentage (%) of overall F&B launches tracked with plant protein ingredients: