The global plant-based market is currently valued at $12.1 billion and is predicted to grow at a CAGR of 15% over the next six years, reaching almost $28 billion by 2025. Since 2012, the plant-based market in Western Europe has doubled in size, with Europe as a whole accounting for 38.5% of total global revenue in 2017.
But what’s actually going into these alternatives? We’ll look at the fastest-growing ingredients found in plant-based protein snacks and how you can leverage this information to better serve both your customer base and your investors effectively.
But I’m a Fun Guy
The number one fastest-growing ingredient in plant-based protein snacks is the ever-so-humble mushroom. This versatile little fungus has a very high opportunity score and mentions of 0.86%. What is staggering though is the mentions growth is it seeing with an eye-watering 524%. That sky-rockets it as a clear ingredient to watch for brands looking to enter the snack market.
The most likely use of mushrooms in the snack market area is as a vegan alternative for meat snacks such as meat-free jerky sticks.
Another ingredient that has a very high opportunity score is High Oleic Sunflower Oil. Mentions of 0.39% and a mentions growth of 360% indicate that it is gaining a focus due to its benefits for heart health and lowering cholesterol.
An unsurprising number three on this list is the lentil. These once nose-scrunching legumes are gaining popularity and should be considered as a headlining ingredient for snacks such as vegan-friendly, high-protein, keto-friendly chips. With clear labeling and a focus on convenience, this type of snack ticks a few buying drivers in today’s consumers.
Soy Nice to Meet You
Lastly on this list is Soy Protein Isolate. Soy protein is a complete source of protein and may aid muscle building, though it is purported not to be as efficient at that as whey protein. It is used to improve the texture in meat-alternative products, enhance moisture retention and increase the protein content of the snack.
With the ever-increasing demand for plant protein and allergen-friendly ingredients, it’s no wonder that we’re seeing a rise in new sources of plant-based proteins. With an estimated 10% of such products currently utilized by manufacturers globally – this flourishing market is set to see more plants being put into production as industries explore different options to meet consumer needs.
Brands utilizing clean labeling, allergen-free, and high protein in their snack offerings, coupled with some of the fastest-growing ingredients in the plant-based protein snack sector, are likely to see a greater uptake by consumers and will leverage the trend to the best possible outcome.
Having access to up-to-the-minute data and being to translate that data in near real-time is another way to ensure brand success whilst making the most informed decisions based on your consumer’s habits and pain points.
For more information about the leading forms of plant-based protein foods or opportunities inside cereals, you can request a demo. If you want to view our May 2021 webinar’s discussion on keto-friendly snacks, you can view the video here.