There is a growing school of thought that the plant-based space is going through a metamorphosis. After experiencing several years in the spotlight, more is expected from plant-based innovation. Consumers are demanding tougher clean label credentials along with improved taste and texture. Innovators are responding with a plethora of NPD while exploring opportunities in line with projections that this market has the potential to sustain continued growth.
Innova’s number four trend from our Top Ten Trends for 2023 is Plant-Based: Unlocking a New Narrative. The rapid rise of the plant-based sector has, almost inevitably, hit some roadblocks, necessitating a refocus on consumer demands for quality, flavorful products. No longer merely a mimic of meat, fish and dairy, greener gastronomy will blossom as a standalone sector in 2023. This will give brands significant opportunities to diversify and expand. While the plant-based arena faces real challenges, trend-conscious brands are getting a better understanding of how to thrive in the years ahead.
Containing the experiences and views of industry heavyweights, this report from Innova’s Briefing Series contextualizes the insights from the most up to date consumer surveys and data analysis. It looks at who is active in the market, shifts in consumer preferences and external factors impacting market structure. These are brought together to focus on the upcoming opportunities for the plant-based sector in light of the growing flexitarian movement.
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