Wonder

Research Outline

Prepared for Tom M. | Delivered April 15, 2020

Plant-Based Foods

Goals

To understand the product attributes of plant-based foods that are most sought after by consumers by looking at the consumers' preferred attributes of plant-based foods and other reasons for seeking plant-based foods.  

Early Findings

According to one venture analyst, they are not looking for products that are "as good as the animal-based version, but rather ones that are better in taste, texture, price and/or process." 
A survey report shows that 53% of respondents like most the “good taste” attribute of plant-based meat alternatives while "35% and 34% citing a meat-like texture or taste as their favorite aspect, respectively."
In relation to this, "many survey respondents who haven’t tried plant-based meat cited fear that the product wouldn’t taste good as a reason for avoiding the product altogether."
Taste is shown to be the primary reason why consumers seek plant-based foods as revealed in a Mintel report. The other reasons are health, environmental impact, and animal welfare. 
Consumers, mostly flexitarians, still "crave the taste of meat" and so they prefer plant-based meat alternatives to have an attribute that mimics the taste of meat. 
Dairy and meat alternatives "including milk, cheese, yogurts, and ice cream" are the primary drivers of plant-based food sales. 