Noteworthy: sales of meat and dairy alternatives have fallen this year
Sales of meat substitutes rose steadily for a few years, but after the first three quarters of 2022, that trend seems to have come to an end this year. The decline is around 3 percent. How did this happen?
The balance in the consumption of animal and plant-based proteins should shift from the current 60/40 ratio to 50/50 by 2030, if it were up to the government. But so far, there has been no decline. ABN Amro conducted research and drew a number of conclusions from it. Why has this growth turned into a decline?
Some say meat substitutes are too expensive
Although earlier research this year showed that there are many meat substitutes that are cheaper than meat, according to the bank, the decline in sales is nevertheless due to consumers’ reduced purchasing power. The reactions to a review by Snackspert of the plant-based steak from steakhouse chain Loetje showed that many people consider the prices being charged far too high for something that is supposed to resemble the original but is not the real deal.
Once, but never again
In addition, ABN Amro says, there is also a group of consumers who, after an initial disappointment, do not choose a meat substitute again, ‘because the taste and texture do not always meet expectations.’ So there are no repeat purchases from them, according to an article in De Volkskrant.
More is needed for growth
But this is also partly due to the lack of innovation in taste and texture, according to the bank. And that is a shame, because this keeps sceptics who have had a disappointing experience with meat substitutes away from that particular refrigerated section in the supermarket. According to the bank, the addition of new products is therefore important for the growth of this market; products that are healthier, made with alternative plant-based ingredients and ‘with a demonstrably low environmental and social impact.’
Tastier and more affordable, in short. Otherwise, we think the decline will only continue.
Source: De Volkskrant
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