Veganism...
Not so hot anymore
How to make plant based diets tasty again
Whether it was Starbucks promoting “phantom frappuccinos” or Snoop Dogg endorsing Beyond Meat, it seemed like every other celebrity or brand was backing vegan products in the late 2010s.
Fast-forward to today, and businesses have begun pulling these selections after disappointing sales, with some online personalities publicly renouncing vegan lifestyles.
As the cost of groceries rises, sustainability – a common motivation for eating vegan food – has also become less of a consumer priority, which means the plant-based industry could do with a boost.
What's the story?
The trend
Interest in veganism is declining, with some seeking more flexibility in their dies
The data
The number of Europeans identifying as flexitarian has risen by 13% year-on-year
Plant-based food's addressable market is evolving. Food brands should target flexitarians and those interested in reducing their meat consumption, not just vegans.
The takeaway
Why should brands care?
Interest in vegan products hasn't gone, it's just flexed a little, and brands can keep the meat-free conversation going by addressing a wider audience. They should dial down discussions around sustainability, and shout about nutrition more.
The vegan slice of pie is small, and companies that cater to those in the middle are more likely to dish up a greater return.
What's happening and why?
Interest in vegan food has declines in 43 of the 47 markets GWI tracked since Q2 2021, and fewer Europeans are identifying as vegans or pescatarian - a sign many don't want to follow diets that are too prescriptive. Instead, more are becoming flexitarians, with over 1 in 4 interested in reducing their meat consumption.
Studying these plant-curious consumers suggests ways to give meat-free food more flavor. In the US, aspiring flexitarians are less status-driven, thriftier, and less likely to say eco-friendly food is important than vegans, so plant-based items could benefit from some fresh branding.
Highlighting nutritional advantages is a good starting point. This group is more likely to be interested in high-protein items, and to be dieting to lose weight or improve fitness.
The importance of sustainability when buying food products has decreased 10% year-over-year, in European markets.
In the US, flexitarians are 53% more likely to diet to improve fitness, and 46% more likely to do so to maintain their weight, than average.
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