A new global consumer research done by GlobeScan and commissioned by EAT, a non-profit organisation to catalyse global food system transformation, revealed that 42% percent of consumers worldwide think most people will likely be eating plant-based food instead of meat in the next 10 years.
This finding is alarming as the world will probably witness a major food transformation as we battle the current food supply challenges in the face of the pandemic, political conflict and climate change.
The latest findings from the 2nd edition of Grains of Truth 2022 report, is based from a huge sample base of almost 30,000 consumers in 31 markets around the world.
Worries about food supply is one of the major concerns with 60% of respondents citing this as a very serious problem. However, this concern varies across countries with East Asian countries like China (16%), Hong Kong (24%) and South Korea (28%) being the least worried, while over eight in 10 surveyed in Columbia, Peru, Kenya, Mexico, Brazil, Argentina and South Africa are worried about food shortages.
Meanwhile, 92% of respondents also mentioned rising concern over the higher price of staple foods over the past 3 months.
The survey also found that 60% of consumers eat healthy food most or all of the time, with a growing number of people eating vegetarian or vegan diets – more than one in 5 (22%) said that they eat plant-based or vegan food, up from 17% in 2019. Interest in trying plant-based diets is also growing across all age groups especially from the younger Gen Z (40%), Millennials (43%), Gen X (37%) and the Baby Boomers (28%), and this is a positive development for the plant-based food segment. (see Chart 1.0)
One major interesting finding which could signify strong growth potential is the significant gap found in some countries between those who are interested to switch to a plant-based diet and those who are already doing this. The largest gaps are in Vietnam (38% points), Thailand (37% points), and Brazil (22% points) and these could translate to huge growth potential in these countries for an investor to promote and market plant-based products in the near future. (see Chart 2.0)
Finally, nine in 10 consumers (89%) mentioned that buying environmentally healthy and responsible food is important to them and many (64%) are willing to pay a higher price for it.
Dr. Gunhild Stordalen, EAT Founder and Executive Chair said, “The fact that so many people around the world are becoming more interested in eating healthy and sustainable food is an encouraging sign, a few years ago it would be unthinkable that 42% of people globally would believe plant-based food will replace meat within a decade. But the public is starting to understand the escalating climate and nature crises and the dangers it brings to their everyday lives as it intertwines with the pandemic, the war against Ukraine, and the accelerating cost of living crisis. While consumers understand the issues, it is up to everyone else in the food system to act now to help them – access and affordability will play a critical role as the first edition of this report showed last year.”
