Most Consumers Hungry for Plant-Based Food, But High Prices Keep Them Away

Interest in eating more plant-based food is growing across the Global South, with high prices the biggest obstacle to increased consumption, according to a new study.

More than two-thirds (68%) of consumers across the world want to eat more plant-based food, with folks from countries in the Global South the most keen, according to a 31-nation study.

The sentiment is strongest in Vietnam, where over 90% of people express a growing appetite for plants, and which is followed by 11 other nations in the Global South. Conversely, the seven countries least interested in plant-based foods are all in the Global North, with Australia (40%) at the bottom.

This is despite price being the top barrier to plant-based consumption in all regions, with 42% of global consumers finding these foods too expensive. It likely affected the three-point drop in frequent plant-based intake between 2023 and 2024, although these levels have remained largely stable over the last few years.

The Grains of Truth 2024 report was conducted by GlobeScan and the non-profit EAT, collecting representative online samples of over 30,000 consumers across the 31 countries.

Inflation cuts deep

In the US, animal meat is 77% cheaper than plant-based alternatives on average; this gap expands to 104% when it comes to plant-based milk and 317% for eggs.

Experts have long argued that price parity is crucial for these products to compete in the market, but recent analysis shows that for true impact, they must undercut the cost of animal proteins.

According to a study published in December, if plant-based alternatives are more expensive than meat, their preference falls below 20%, and if they’re priced equally, this increases to 21%.

“Although barriers to plant-based food consumption differ around the world, price is the top barrier everywhere,” the authors of the Grains of Trust report write. This is an especially large concern in Europe and North America, where “even consumers who care about environmental sustainability often cannot afford plant-based foods regularly”.

Meanwhile, economic instability in regions like Latin America and Africa makes it harder for people to prioritise dietary changes amidst broader food security concerns.

Meat alternatives fail to impress

Aside from the cost, taste is the second largest hurdle to plant-based consumption, most important in North America (chosen by 45% of respondents). In Latin America, convenience trumps flavour, while health concerns aren’t a major concern – highlighting that most consumers recognise the nutritional benefits of plant-based food.

Likewise, health is still the top reason driving people to reduce meat, but this has weakened from 47% in 2020 to 41% in 2024. Financial considerations, meanwhile, have become more pertinent (from 12% to 17%).

And while a third (34%) of consumers would prefer plant-based alternatives over conventional meat – if they match the taste, nutrition and price – this has dropped from 42% in 2020. Latin Americans are the most open to meat analogues, but people in Australia, North America, and Europe show a strong preference for animal protein.

Broadly, too, frequent consumption of vegan or vegetarian food has decreased by at least five percentage points in the three largest markets: North America (now at 13%), Europe (18%), and Asia-Pacific (14%). Africa and the Middle East (38%) lead the way here.

Gen Z and millennials lead the protein transition

Nearly three-quarters (72%) of millennials – many of whom have young families now – want to eat more plant-based food, as do 69% of both Gen Z and Gen X consumers.

While the interest from young groups wouldn’t usually be surprising, it comes at a time when they’re returning to animal-based foods. Among 18- to 24-year-olds in the UK, for example, 19% are increasing their meat intake, while only 16% are cutting back, according to a separate poll.

In this report too, frequent consumption of meat-free food dipped by more than five points among millennials in 2024. “Despite these generational differences, the data reveal a clear appetite for change – if the obstacles can be addressed,” the report notes.

“The plant-based food sector has made strides in developing new products, but more needs to be done to tackle the persistent concerns about flavour and texture, a prominent barrier to adopting more plant-based diets, especially for older people.”

Polluting food should be taxed, but meat reduction not a universal choice

Meanwhile, 86% of consumers across the world agree that carbon-heavy food should be taxed higher than low-impact options – while this would seem like an endorsement of meat taxes, only 69% of them believe it would be better if the world ate less meat. In fact, 11% completely disagreed with the idea that reducing meat consumption would be beneficial.

“Clear, transparent labelling and third-party certifications could help build confidence in the sustainability claims of plant-based products,” the authors state. “Investment in research and development coupled with a focus on cultural food preferences will be key to creating products that meet consumers’ tastes and expectations.”

They add: “By creating a clear link between plant-based eating and positive environmental and human health outcomes, brands and policymakers can encourage more consumers to make the switch.”