How to Succeed in the Plant-based CPG Market
Marketing your plant-based CPG products can be challenging, but with the right strategies and tactics, you can succeed in this ever-growing market.
In this guide, we will provide you with tips and tricks to help you navigate the plant-based CPG industry and achieve success.
What is Plant-based CPG?
Plant-based CPG stands for “plant-based consumer packaged goods”. These are products that are made entirely or partially from plant-derived ingredients and are sold to consumers in pre-packaged form.
With the rise of veganism, vegetarianism, and environmental consciousness among consumers, there has been a significant increase in demand for plant-based CPG products.
Understanding the Plant-Based CPG Market
Before diving into marketing strategies, it’s important to have a full understanding of the plant-based CPG market. This industry is rapidly growing, with an increase in sales in 2024 projected to reach $85 billion globally.
This growth is driven by several factors, including the rising awareness of plant-based diets and their health benefits, concerns for animal welfare, and environmental sustainability.
In addition to this increasing demand, there is also increased competition in the market. With more and more companies entering the plant-based CPG space, it’s important to stand out and differentiate your products.
Tips For Marketing Your Plant-Based CPG Products
1: Understand the market demand
Before you dive into creating a plant-based product, it is crucial to understand the market demand. Conduct market research to determine what plant-based products are popular and what unmet needs exist. You can also use social media to understand what consumers are talking about and what products they seek.
One emerging trend in the plant-based CPG market is the focus on clean ingredients. Consumers are seeking products free from artificial preservatives, colors, and flavors. They want products that are made with whole foods and are minimally processed.
Another trend is the focus on sustainability. Consumers are concerned about the impact of their purchasing decisions on the environment and seek eco-friendly products, sustainably sourced packaging and ingredients.
2: Create a high-quality product
Once acquainted with the market demand, it is time to start creating your product. It is vital to create a high-quality product that meets the expectations of your target audience. Use high-quality ingredients and ensure that the product tastes good and performs well.
When it comes to plant-based products, texture and flavor are particularly important. Consumers are used to the taste and texture of traditional animal-based products, so it is essential to create a plant-based product that is as close to the real thing as possible.
Include innovative ingredients and processing methods to create a delicious and satisfying plant-based product.
In addition to taste and texture, it is paramount to consider the nutritional profile of your product. Consumers are increasingly interested in plant-based products high in protein, fiber, and other nutrients.
Consider fortifying your product with plant-based sources of protein such as pea protein, chickpea protein, or soy protein, as well as other functional ingredients that offer additional health benefits.
3: Market your product effectively
Creating a high-quality product is just the first step, but you also need to implement CPG marketing methods effectively.
In addition to social media, consider partnering with influencers in the plant-based community. These influencers have a large following of consumers interested in plant-based products and can help you reach a wider audience.
Finally, consider attending trade shows and other industry events to showcase your product and connect with potential customers and partners.
These events are a great way to get your product in front of a targeted audience and generate buzz around your brand.
4: Stay ahead of the trend
The plant-based CPG market is constantly evolving, and it is paramount to be ahead of the trend to remain competitive. Keep an eye on emerging trends and be willing to pivot your product line in response to changing consumer preferences.
For example, the trend towards clean ingredients is likely to continue, and consumers may become increasingly interested in plant-based products that are organic or non-GMO. It is vital to stay up-to-date with these trends and adapt your product line accordingly.
In addition to staying ahead of the trend, it is also important to innovate and differentiate your product from the competition.
Consider adding unique ingredients or flavors to your product or exploring new processing methods that create a unique texture or flavor profile.
Conclusion
The rise of plant-based CPG products is not a fad but a trend here to stay. Consumers are increasingly interested in healthier, more sustainable, ethical food and household items. Companies that are quick to capitalize on this trend are reaping the benefits.
In the plant-based CPG market, it is essential to understand the market demand, create a high-quality product, market your product effectively, and stay ahead of the trend.
With these strategies in mind, you can create a successful plant-based product that meets the needs and preferences of your target audience.
To learn more about flavor trend predictions, turn to Tastewise. We are the AI food and beverage data platform the industry uses to innovate faster, market better, and grow sales. Get a demo!