Cost, Taste and Ethical Eating Essential to Achieve Post-Veganuary Success, says GlobalData

Meeting consumer expectations for ethical, ‘ green ’ offerings while maintaining reasonable costs will be a notable challenge for restaurants in launching vegan menus this year, opines GlobalData Veganuar y has always proved a valuable period for brands to showcase new meat alternative innovations, but this year, it’s the ‘ green ’ credentials associated with vegan offerings that will reel in the crowd, explains the leading data and analytics company

SUSTAINABILITY IS KEY FOR 33% OF CONSUMERS* TO TRY PLANT-BASED MENU ITEMS

When it comes to new vegan product launches, leading brands such as McDonald’s have focused on consumer facing aspects like sustainable packaging, while other areas hidden down the supply chain, such as carbon footprints and simplicity of ingredients have taken a backseat

Ramsey Baghdadi Consumer Analyst at GlobalData comments: “For a plant-based menu to succeed, it cannot rely on its ‘plant-based’ status alone It must also perfect associated aspects such as high quality, ethical production, and sustainable packaging to closely align with the preferences of non-meat eaters/flexitarians throughout the globe While mega-brands like McDonald s can rely on brand recognition, loyalty, and affordability to entice new customers, independent operators may not have that luxur y Therefore , independents such as Plants by Deliciously Ella, need to look towards high quality, sustainable and local operations that help them to stand out (and justify a higher price point) ”

GlobalData’s 2022 Q1 consumer sur vey shows that, globally, people are more likely to tr y meat or fish-alternatives based on health (66%)*, sustainability (33%)* and animal-welfare (33%)*, and not just because it tastes good If these measures are taken to consideration, you ’ re on your way to having a successful plant-based alternative menu item

TASTE CONTINUES TO BE A PIVOTAL FACTOR FOR CONSUMERS PLANT-

SHORT-TERM TREND

Based Curiosity

Replicating a meat-like taste is a proven preference among consumers globally In 2022, almost a third (31%)* of consumers globally claimed that they are likely to tr y meat or fish-alternatives because of the taste

Baghdadi continues: “This Veganuar y we have seen a wide range of new plant-based options being introduced across the foodser vice sector, especially in the UK and US, including the new vegan American Hot pizza from Domino’s Burger King’s Vegan Royale with Cheeze burger and the Double McPlant burger from McDonald’s which has been vegan-cer tified

Replicating the same flavor and sense of indulgence is essential for these big named brands, as many consumers are already accustomed to their meat counterpar ts – making a strong point of comparison

Veganism Should Not Be Regarded A

The plant-based market is maturing, and consumers expect more than a basic ‘mushroom substitute’ when eating out Foodser vice providers must join leading brands in considering long-term strategies for vegan menus Especially during the cost-of-living crisis, brands should also focus on the affordability of vegan products to boost consumer accessibility

Baghdadi concludes: “Veganuar y is now synonymous with experimental behaviors, as thousands sign up each year to test a flexi or vegan lifestyle for themselves Naturally, not all par ticipants will fully commit, with Februar y onwards painting a truer success rate for both the par ticipants and brands’ new menus That said, as of November 2022, a third (34%)** of people globally claim to be vegan, vegetarian, flexitarian or have a low meat diet This alone shows that the market for affordable plant-based meat is out there all year round, it’s not just a Januar y thing ”