Latest BCG Alt Protein Report: “Companies Must Find Ways to Attract Mainstream Consumers”
The Boston Consumer Group’s latest alt protein report, Taking Alternative Protein Mainstream, suggests that companies must appeal to mainstream consumers to increase the market’s growth. According to the study, while US sales in the alternative dairy category — which has made huge strides in appealing to mainstream consumers — grew by 12% in 2022, alternative meat sales declined by 0.4%. The alt protein report claims there are immediate actions that companies can implement to take alt protein mainstream, particularly alt meat, in the US. Correcting marketing mismatch The report recommends limiting or removing vegan and vegetarian front-pack labels because only 5% of consumers identify as such. Therefore, labeling a product as vegan is unlikely to resonate with mainstream consumers. Research has shown that highlighting a plant-based …