What are the potential reasons for the slowdown in the growth of plant-based foods?

In recent years, the popularity of health concepts has also promoted the development of some innovative products, such as plant-based foods, the main component of which is plant protein, its cost is relatively high, since the market, it has received a lot of attention, but over time, the growth rate of plant-based foods has slowed down significantly, what are the potential reasons behind this?

The survey results show that consumers are attracted to plant-based alternatives because they believe they are healthier, better for the planet and help diversify
their diets.
Consumers ranked the health of the planet as the second most important reason for accepting plant-based foods, surpassing dietary diversity in 2022 and cementing its position
as the second most important reason for consumer health.

However, in a difficult macroeconomic environment, the forecast growth in global market value and volume of meat substitutes shows some signs of slowing, with growth expected to reach 7% in 2023 compared to 14%
in 2018.

Innova Market Insights also conducted a survey on "why not consider buying plant-based alternatives", which revealed that consumers consider taste and texture first, followed by price/value for money, and concerns
about products that are over-processed and contain too many artificial ingredients.
In addition, according to market researchers, consumers believe that the main driver of plant product development should be health (41%), followed by affordability (30%) and naturalness (28%)
.

Consumers expect new technologies to improve taste, nutritional value, digestibility, reduce environmental impact, and mimic the
texture of common meat.
"For every consumer who thinks plant-based alternatives taste better, slightly more think they taste worse
.
" Innova In their 2023 trend "Plant-based: Self-contained", market researchers said that companies must address these barriers and refocus on consumer demand for high-quality and delicious products, consider applying underutilized food raw materials, and use cutting-edge technology to innovate to create different flavors and forms of plant-based products for different scenarios
such as home and going.

With the development of plant-based foods, more and more shortcomings have begun to appear, such as the taste of food, the price of sales, etc.
, but it is undeniable that there are still consumers willing to pay for it, in the future, plant-based foods want to get more demand, you need to start in the taste and quality of food, and create different flavors
of such foods.