The plant-based food revolution is over and sustainable food alternatives are firmly entrenched in the diets of consumers in 2024. In 2021 and again in 2024, Rakuten Insight surveyed participants from their 13 proprietary panels in Asia and the US.  In 2021, the time of our previous survey, results indicated that many consumers had tried plant- based food alternatives and some products had already been accepted into diets across our panel markets, such as milk, cheese & meats. Now in 2024, our reports for Asia and US show that the sector has been established and the focus has moved to the latest trends within plant-based food alternatives.

The core benefits of plant-based foods remain similar. Healthiness compared to ultra-processed meats, environmental sustainability and impact of climate changes are core benefits which will prove to be resilient. While for many, animal welfare is an ongoing concern, health concerns over processed and ultra-processed meats remain key.

In 2021, there were no common deep-seated concerns across markets. This indicated that there was no natural barrier to acceptance of plant-based diets. In 2024, there is high consumption of plant-based food alternatives across markets including US. There is also high frequency of consumption with most consumers having plant-based food alternatives several times a week and month.

For US specifically, two barriers have emerged in 2024.

1. Cost: with post-pandemic inflation and higher cost of living, there is a perception that plant-based food alternatives are more expensive. This is a barrier which will need to be addressed in communications from brands. The role of supermarket brands communicating the affordability of plant-based foods may be important in changing this perception.

2. Need: In US, in particular, there remains a comparatively large group of consumers (51%) are yet to acknowledge the benefits of plant-based alternative foods. However, given the health benefits and the manner in which the plant-based food alternative sector has entrenched itself in the lives of consumers, the smart money is on the continued growth and impact of plant-based food alternatives in the future.

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