Exploring consumers’ willingness to pay for plant-based food products
When talking about plant-based foods, many consumers are already aware of the health and sustainability benefits. However, a key aspect that holds consumers back from purchasing plant-based products is the lack of price parity with conventional animal-based products. This report shows consumers’ willingness to pay for plant-based food products, compared to the animal equivalent.
Since price is a big factor in consumers’ decision-making, it’s important to understand how the prices of plant-based foods affect consumers’ purchasing intent, so that food producers and policymakers can use various levers to adjust prices. This will help to determine how the different price levels of plant-based food products are perceived and how this affects consumers’ likelihood to purchase.
Discover the key findings by downloading the report.
It’s unsurprising to see how much impact price has on consumers’ purchasing decisions around plant-based products, particularly with the growing cost-of-living crisis. Brands and retailers need to ensure that they work to achieve price parity with animal-based products in order to make plant-based products more accessible to the average consumer.”