Analyze opportunities within the plant-based protein market, such as:
- Sustainability Attributes
- High-Protein Treats
- Clean Label Innovation
The plant-based protein market has skyrocketed in popularity in recent years, with consumers gravitating toward healthier bars, cookies, brownies and smoothies that are nutrient-dense and rooted in protein. As that demand continues to grow, brands are filling the market with products that meet consumer needs. Projected to reach $34.5 billion USD by 20321, the global plant-based protein market could start to approach an over-saturation of products. This means formulators must develop differentiated innovations that grab the consumer’s attention.
To develop products that stand out, formulators can focus on incorporating current trends, such as sustainability, high-protein treats, and clean label innovation. With satisfying crunch, versatile flavor, sustainable benefits and well-rounded nutrition in every bite, almonds continue to play a central role in confectionery product development.
Let’s explore growing opportunities within the plant-based protein market:
Sustainable Ingredients
Plant-based alternatives are more sustainable than conventional animal-based ingredients, and a plant-based diet can reduce the amount of land needed to grow crops by 35-50%3. Today's consumers are more aware of this - especially millennials and Gen Z4 - who are more concerned with how their diet choices impact the environment. In fact, to meet the demand for sustainable plant-based products, formulators must incorporate environmentally conscious ingredients.
63%5 of U.S. consumers started eating plant-based products because they associate it as being better for the planet.
63%5 of U.S. consumers started eating plant-based products because they associate it as being better for the planet.
Almonds are a healthy, sustainable addition to plant-based protein offerings. Consumers not only want sustainable ingredients, they want transparency from food manufacturers. Three out of every four shoppers continue to prioritize ingredient transparency when making purchase decisions6.
With Blue Diamond's sustainability initiatives, like extending the carbon-absorption power of almond trees and using technology to assess water risks, customers can be confident that their ingredient choices are transparent and better for the environment. From almond protein powder to almond butter, Blue Diamond ingredients can help innovate a product that's perfect for consumers concerned with health and sustainability.
High-Protein Treats
Today's consumers want it all - indulgent cakes, cookies and confectionaries that are healthy, but still have the taste and texture they expect from traditional desserts. Because of this, treats with recognizable, plant-based protein ingredients are growing in popularity.
About 48%7 of global consumers are paying close attention to the protein content of all foods, and 53%8 find high protein baked goods appealing due to their added nutritional value and great taste.
About 48%7 of global consumers are paying close attention to the protein content of all foods, and 53%8 find high protein baked goods appealing due to their added nutritional value and great taste.
While there are plant-based protein ingredients available to formulators, they need to ensure those ingredients don't disrupt the taste or texture of their offerings.
Traditionally indulgent offerings, like breads and brownies, can be enriched with the use of almond ingredients, such as almond flour, to boost protein content without interfering with taste and texture. The neutral, but slightly sweet taste and smooth mouthfeel of almond-based ingredients incorporate seamlessly into a variety of baked goods.
Clean Label Innovation
As the interest in clean label grows, so does demand for plant-based foods made with simple, recognizable ingredients. For example:
- 47%9 of consumers want to avoid artificial ingredients
- 60%10 of consumers are looking for minimally processed, plant-based foods
To develop plant-based products without chemical additives and confusing ingredients that deter health-conscious consumers, brands can innovate clean label alternatives to the traditional products.
Naturally clean label, plant-based, and sustainable, almond ingredients can be used to meet the changing demands of today's consumers. Widely recognized by consumers as a healthy option, almond ingredients, such as almond protein powder and flour, can help formulators achieve the taste they're striving for without the need to add unnecessary, unknown additives.
Whether it's a clean-label protein shake, or sustainable snack, it's evident that there's still room for innovation within the plant-based market. With the sustainable, nutritious and clean label benefits provided by Blue Diamond almond ingredients, global brands can create an enticing offering that sets them apart from others in the market.
If you're looking for more information on our sustainable initiatives and how you can benefit from our almond ingredients, be sure to fill out the form on the side of this page to receive details on our upcoming webinar, featuring Dr. Dan Sonke, Director of Sustainability. For more insight on what benefits consumers are searching for in plant-based protein products, check out our article here.
References:
1. "Global Plant Based Protein Market Expected to be Valued At $34.5 Billion By 2032," Financial News Media. August 2022.
2. "Managing consumer perceptions of plant-based alternatives," Fi Global Insights. June 2022.
3 "Why Is a Plant-Based Diet More Sustainable?" Sustainable Rookie. 2021.
4 "2022 Food & Health Survey: Diets, Food Prices, Stress and the Power of Gen Z," Intenational Food Information Council. May 2022.
5 "Sustainability, Health Top Drivers for Plant-Based Alternatives, New Kerry Research Finds," Refridgerated Frozen Food. May 2022.
6 "Consumer demand for food transparency remains strong as omnichannel rises," NielsenIQ. 2022.
7 "Consumers seek "health and indulgence balance" in protein bars, Glanbia Nutritionals exec details," Nutrition Insight. March 2022.
8 "High protein and indulgence influence consumer bakery purchases," Bakery Info. July 2022.
9 "IFIC 2022 Food and Health Survey Report," International Food Information Council. 2022.
10 "FMI report reveals consumers' feelings toward plant-based products," Supermarket Perimeter. August 2022.
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