Kerry, a private label food and beverage partner, has released a new report on the protein market. In a study of over 6,300 consumers in 12 countries, the group found that most protein consumers are motivated by health and wellness, and that consumers are willing to pay a premium for better protein content.
The report, titled "The Protein Mindset: Uncovering Consumers’ Perceptions and Preferences of Proteins," reveals that 50% of respondents associated protein with “healthy diet” and 46% with “healthy lifestyle.” The study also showed that taste, quality of protein and natural ingredients are the top three most important factors when it comes to choosing protein products.
75% of global consumers surveyed said they would pay a higher price for protein fortified food and beverages. More than half of global consumers would pay a 10% premium, and an additional 15% would be willing to pay a 25% premium.
Other findings in the Kerry study show that proteins are perceived as a supporter of overall health, which drives sales. In addition to being added to everyday foods and beverages, consumers are looking to incorporate protein more into indulgent snacks and treats.
“Accelerated by COVID-19 and consumer focus on health and rising interest in proactive — versus reactive — nutrition, rapid change has occurred recently in food and beverage markets around the world as broader awareness of the many benefits of protein increasingly drives purchase decisions among mainstream consumers,” said Soumya Nair, global director of consumer research and insights at Kerry. “This extensive Kerry research puts protein foods and beverages squarely under a microscope to understand where the opportunities lie for brands to innovate. There is little doubt the protein revolution in food and beverages offers exciting and dynamic opportunities for all product developers. This timely report provides a range of insights to consider incorporating within their short- and long-term product planning and development processes.”