It's clear that amongst the many areas of health consumers continue to be interested in, one of them is still packing their diets with protein. "Consumers are looking for foods with high protein content," says Wells Fargo Agri-Food Institute's Brad Rubin, sector manager.
However, when it comes to plant-based sources of protein, it can be a challenge when battling meat sources as an option. A black bean burger patty has around nine grams of protein compared to a beef burger patty with around 20 grams of protein.
However, factor into these food decisions the fact that consumers are also looking for foods–in this case, alternative proteins–with clean labels and fewer ingredients. Though, that may leave these types of proteins at a bit of a disadvantage. "Alternative meat protein may be perceived by consumers as a highly processed food since it can include more ingredients and additives than traditional meat protein," adds Rubin.
© WellsFargo; Wonderful
L: Wonderful Pistachios contain 6 grams of protein per ounce; Rubin says the tree nut sector and snack food segments have leaned into plant-based messaging.
Sourcing alternative proteins
Those types of proteins have largely come from pea concentrates and soy concentrates as the primary input ingredients for plant-based protein products, though dairy whey is another key input ingredient for protein-related products. In turn, while the U.S. has ample domestic supply of both soybeans and milk product, there has been an increase in dairy manufacturing capacity for whey production. Meanwhile, pea concentrate is primarily produced in the U.S., Canada, and China.
So where does that leave produce in this equation? "Given the current consumer trend of higher protein consumption, the tree nut sector and snack food segments have leaned into plant-based messaging with high protein for snack consumption and meal replacement bars," says Rubin. For example, Wonderful Pistachios have long marketed their product as containing 6 grams of protein per ounce. "The alternative protein segment will likely look for ways to increase protein content in products, market more natural labeled products, and develop hybrid options for consumers."
Rubin also notes that this summer–a time when consumers were, and continue to be, challenged by grocery prices–the demand for alternative protein products was mostly steady for both retail and foodservice. "However, there is an easing of demand for plant-based cheese products," says Rubin.
For more information:
Sarah Hatch
Wells Fargo
[email protected]
https://www.wellsfargo.com/