A healthy market: What’s trending in the world of plant-based?
Plant-based food and drink still remains a strong market. According to a recent report by Bloomberg Intelligence the global plant-based food market is expected to grow at a compound annual growth rate of 11.9% to reach $74.2 billion by 2027. Aa recent study by Straits Research reports the UK vegan food market is growing at a rate of 9.58%. As well as this, Veganuary had ‘record interest’ attracting 706,965 official participants this year, and The Grocer reported 566 new vegan products were launched into retail for Veganuary 2021.
So, now we’ve established that plant-based is more than a passing trend, you might be wondering, what categories are emerging within the sector? Read on to find out what products to keep your eye on at lunch! – that will keep your hungry customers coming back for more.
Plant-based milks & cheese
Gone are the days where Soya was the only plant-based milk alternative out there. Now, the market is filling with interesting substitutes made from a range of nuts and legumes like hazelnut, almond, coconut, rice, flax, hemp, walnuts and oat. Plus, more recent milks like pea and even potato!
According to a recent consumer report by Vypr via the Grocer:
- 67% of consumers surveyed had tried a dairy alternative (by February 2023).
- Nearly 37% buy them as they like the taste
- 35% think they’re healthier
- 23% purchase them for environmental reasons / animal welfare
Through continued innovation and development, there is likely room for significant growth in this category. And for coffee-shop and cafés, many brands now have ‘barista’ editions, specially formulated to steam, stretch, and foam in a latte. Plant-based milk exhibitors confirmed so far at lunch! include Glebe Farm Foods, Califia Farm, MOMA Foods and Sproud.
The global vegan cheese market size was valued at USD 2.43 billion in 2021. Arguable vegan ‘cheese’ has always been one of the most difficult alternatives to match up to the real deal – but brands are developing this category with fresh flavours and new processes. We’re seeing new variations of cheese’s from brie to feta and even Camembert. Make sure to meet and sample the latest vegan cheeses from Flagship Foods and Norseland at lunch!
Alt-meats
The same Bloomberg report suggests that alternative-meats (or alt-meats) will ‘balloon from $4.2 billion to $74 billion’ and ‘brands like Beyond Meat (Casual Dining exhibitor) have largely contributed to the surge in growth.’
According to the same report by Vypr via the Grocer, 33% of non-vegans (committed carnivores, omnivores, and meat reducers) are interested in trying plant-based food, while 18% are very interested, and 12% say they already buy these products.
Although plant-based alternatives (specifically meat alternatives) have been heavily criticised for being ‘overly processed’, or ‘not so planet friendly’ – it’s important to note here that market development and innovation is buoyant. Every day, we see more products emerge with interesting ingredient combinations that are closer to being planet-friendly and nutritionally balanced.
Whether you like it or not, alternative meats are quickly becoming a lucrative market, simply due to the fact that many customers wish to reduce (or avoid) their meat intake for animal welfare reasons, but still desire the taste and texture of meat! It’s a win-win for the alt-meat brands doing this right, including our exhibitors confirmed so far; Nova Meat, Miami Foods and Jam N Vegan.
Healthy alternatives
The healthy lunch and snack category continues to evolve. And with our daily lives having yet another overhaul – caused by hybrid working and a continued importance on wellness – more brands are emerging with a twist on traditional food-to-go.
To fulfil this, some brands are using interesting plant-based ingredients to mimic certain tastes and textures relating to animal products. For instance, seaweed or banana blossom can make great substitutes for fish, or chickpea water (aquafaba) may replace eggs, furthermore jackfruit or mushrooms can mimic the texture of pork or chicken.
Recent developments have also seen brands cleverly reinvent traditional snacks and drinks with ‘healthier’ inclusions. For example, some tortilla chips have been made with kale, spinach or blue maize. And crisps and puffs have been made with veggies, pes, lentils, chia and flax seeds. Another notable example to mention here is the advent of soft drinks with natural ingredients, taken for enhanced energy or focus. Make sure to check out Drink Hip Pop, Tenzing and Jamu Wild Water for these at the show.
A few exhibitors promoting their ‘healthy plant-based’ ranges at lunch! include: The Savourists, Mister Free’d, Eat Love Raw, Simply Roasted, Hungry Monkey Snacks, BOL Foods and more to be confirmed.
Indulgent & plant-based
Lastly, it’s important to note there’s still a strong market for dairy-free chocolate and plant-based sweet treats – and now there’s even more choice for those who follow a vegan diet, avoid dairy or egg for allergy reasons or just simply like the taste.
Taste, texture and flavour combinations have significantly evolved, offering a perfect alternative to treats that are typically heavily laden with creams, eggs, butter and other animal-based, less-healthy ingredients.
Indulgent, plant-based sweet treat exhibitors to see and sample at lunch! include: Mister Free’d, Candy Kittens, Yumma Candy, The Coconut Collective, YummyComb Ltd, Islands Chocolate, Pri’s Puddings, NOMO, Rhythm 108, Love Cocoa / Hip Chocolate, and Fayrefield Foods/ Food heaven…..
Register to visit
lunch! returns to ExCeL London on 27-28 September and is a trade only event for retailers, cafés, sandwich bars, food-to-go chains, coffee shops, delis, contract caterers, wholesalers, supermarkets, and travel caterers. Registering for a free trade ticket guarantees free entry to lunch!’s co-located sister shows Commercial Kitchen and Casual Dining. Register for a free trade ticket here.
Book a stand at lunch!
If you are considering exhibiting your plant-based brand – lunch! is the must attend event for the food-to-go sector. At the show, you will have the opportunity to speak to quality buyers and network with other brands in your sector.
If you would like to book a stand, please contact one of our sales team today:
Vicki Balfour, Sales Manager
[email protected], Tel: +44 (0)1273 645 166
Phoebe Moss, Sales Executive
[email protected]
