To What Extent Are Plant-Based Diets Influencing the Food Industry?
Introduction
The plant-based market is currently booming as one-third of the global citizens choosing
to cut on their meat-based food consumption actively. As a result, the demand for plant-based
innovations had grown rapidly across the world 1. According to a report written by the Business
Integration Services Corporation, the plant-based market is expected to reach $480.43 billion by
2024. The projected compound annual growth rate is 13.82% between 2019 and 2024. According
to Nestle, the biggest food company across the world, 87% of the American population is
currently using plant-based proteins as part of their diet2. Such figures depict that the plant-based
market is not a niche any more as consumers desire meat as well as dairy alternatives. Mintel's
research group proposed that multiple factors have driven the plant-based food sector. Some of
these factors include concern for wellness and health, environment, diversity in protein sourcing,
and ethics.
Scope of the Study
This paper aims to discuss the extent to which plant-based diets have influenced the food
industry. Thus, To achieve this goal, this paper will answer the following questions:
1. What is a plant-based diet?
2. How have businesses contended with plant-based diets? - Supermarkets,
fast food franchise restaurants
3. What are the menu changes being made to include plant-based diet
options?
Purpose of the Study
1 Ginsberg, Caryn. "The market for vegetarian foods." age 8 (2017): 18.
2 Ginsberg, Caryn. "The market for vegetarian foods." age 8 (2017): 18.
This study source was downloaded by 100000850872992 from CourseHero.com on 04-10-2023 11:18:28 GMT -05:00
https://www.coursehero.com/file/95018646/Plant-based-researchdocx/
, 1
This paper will provide a better understanding of how the plan-based sector is influencing
the economy and food chains in various countries. The International Business Service Company
claims that there have been significant economic changes since plant-based products are in
demand. More so, takeaway chains and food manufacturers across the world, have to keep
introducing new products and prices to contend to the plant-based diets.
Methodology
This qualitative paper applied two research methodologies to achieve its goals. The two
methods included a survey and a literature review from peer-reviewed journals, news articles,
and business websites. The survey helped to establish some of the challenges and benefits that
the plant-based diet has introduced in the food industry. It also aimed to establish how the
supermarkets and fast-food restaurants are incorporating food-based products in their stock to
attract more customers. The survey also helped to understand how restaurants and fast food
cafeterias have changed their menu to include plant-based dishes. The literature review from the
secondary materials helps to understand the food industry trends and how the plant-based
industry generally influences it.
Limitations
The number of secondary materials that provided specific information regarding how
plant-based diets have influenced the economy is very limited and inconclusive. More so, most
of the supermarkets and Fast Food Company managers could not disclose the actual data.
Mostly, these companies provided general information. Lastly, some of the surveys' answers
were not relevant to this study.
This study source was downloaded by 100000850872992 from CourseHero.com on 04-10-2023 11:18:28 GMT -05:00
https://www.coursehero.com/file/95018646/Plant-based-researchdocx/
Introduction
The plant-based market is currently booming as one-third of the global citizens choosing
to cut on their meat-based food consumption actively. As a result, the demand for plant-based
innovations had grown rapidly across the world 1. According to a report written by the Business
Integration Services Corporation, the plant-based market is expected to reach $480.43 billion by
2024. The projected compound annual growth rate is 13.82% between 2019 and 2024. According
to Nestle, the biggest food company across the world, 87% of the American population is
currently using plant-based proteins as part of their diet2. Such figures depict that the plant-based
market is not a niche any more as consumers desire meat as well as dairy alternatives. Mintel's
research group proposed that multiple factors have driven the plant-based food sector. Some of
these factors include concern for wellness and health, environment, diversity in protein sourcing,
and ethics.
Scope of the Study
This paper aims to discuss the extent to which plant-based diets have influenced the food
industry. Thus, To achieve this goal, this paper will answer the following questions:
1. What is a plant-based diet?
2. How have businesses contended with plant-based diets? - Supermarkets,
fast food franchise restaurants
3. What are the menu changes being made to include plant-based diet
options?
Purpose of the Study
1 Ginsberg, Caryn. "The market for vegetarian foods." age 8 (2017): 18.
2 Ginsberg, Caryn. "The market for vegetarian foods." age 8 (2017): 18.
This study source was downloaded by 100000850872992 from CourseHero.com on 04-10-2023 11:18:28 GMT -05:00
https://www.coursehero.com/file/95018646/Plant-based-researchdocx/
, 1
This paper will provide a better understanding of how the plan-based sector is influencing
the economy and food chains in various countries. The International Business Service Company
claims that there have been significant economic changes since plant-based products are in
demand. More so, takeaway chains and food manufacturers across the world, have to keep
introducing new products and prices to contend to the plant-based diets.
Methodology
This qualitative paper applied two research methodologies to achieve its goals. The two
methods included a survey and a literature review from peer-reviewed journals, news articles,
and business websites. The survey helped to establish some of the challenges and benefits that
the plant-based diet has introduced in the food industry. It also aimed to establish how the
supermarkets and fast-food restaurants are incorporating food-based products in their stock to
attract more customers. The survey also helped to understand how restaurants and fast food
cafeterias have changed their menu to include plant-based dishes. The literature review from the
secondary materials helps to understand the food industry trends and how the plant-based
industry generally influences it.
Limitations
The number of secondary materials that provided specific information regarding how
plant-based diets have influenced the economy is very limited and inconclusive. More so, most
of the supermarkets and Fast Food Company managers could not disclose the actual data.
Mostly, these companies provided general information. Lastly, some of the surveys' answers
were not relevant to this study.
This study source was downloaded by 100000850872992 from CourseHero.com on 04-10-2023 11:18:28 GMT -05:00
https://www.coursehero.com/file/95018646/Plant-based-researchdocx/
