Flash Report: Plant-Based Price Premiums & Consumer Perceptions

Publication ID:

MOON0321001

Publication Date:

March 1, 2021

Pages:

Publisher:

Moonshot Collaborative

Countries:

USA [1]

USD 250.00

Food & Beverages [2]

Food [3]

Description:

Figuring out how to price your consumer product to optimize sales is a challenge every new business faces. This flash report from Moonshot Collaborative gives you exclusive insights into how plant-based buyers think about price premiums. It's your key to understanding the role that price plays as plant-based products move from niche to mainstream, and how to best position your own products in a quickly changing landscape.

Highlights and Key Takeaways

Men are more willing to pay higher premiums for plant-based foods, even though about two-thirds of plant-based buyers are women.
The more members that a person鈥檚 household has, the more willing that person is to pay a premium for plant-based foods, and to pay a higher one.
Most plant-based buyers are willing to pay a premium for great-tasting plant-based foods, but not a big one. Plant-based brands should keep striving for price parity, but may not have to fully achieve it.
There is a very direct and correlated relationship between age (generation) and willingness to pay a premium

Background: Younger generations - Generations X, Y, and Z - are significantly more willing to pay a premium, and a much larger one, than the 鈥淏oomer鈥� and 鈥淪ilent鈥� generations. This aligns with what we know to be true of the younger generations; they are more willing to pay for products that align with their worldview and they are still in their income-generating years. This is especially true of Generations Y and Z.

Takeaway: Targeting younger generations makes sense for many emerging categories and brands that sell at a premium. For brands considering targeting the Boomer and/or Silent generations, it鈥檚 important to know that there is very little tolerance for price premiums among these groups. At the same time, for a company whose products are comparably priced to conventional, animal-based meat and dairy, the older generations represent a largely untapped market that is hungry for these products (if the price is right).

Table Of Contents:

Highlights and Key Takeaways

Plant-Based Price Premiums

Plant-Based Price Premiums by Gender

Plant-Based Price Premiums by Age

Plant-Based Price Premiums by Number of Household Members

Plant-Based Price Premiums by Key Motivations

Plant-Based Price Premiums by Key Barriers

Plant-Based Price Premiums by Diet

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Unless a Enterprise License is purchased, a Single User License must be purchased for every person that wishes to use the publication within the same organization.
Customers who infringe these license terms are liable for a Global license fee.

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This license allows for use of a publication by all users within one corporate location, e.g. a regional office.
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These users can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.
These users cannot share the publication (or any information contained therein) with any other person or persons outside the corporate location for which the publication is purchased.
Unless a Enterprise License is purchased, a Site User License must be purchased for every corporate location by an organization that wishes to use the publication within the same organization.
Customers who infringe these license terms are liable for a Global license fee.

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This license allows for use of a publication by unlimited users within the purchasing organization e.g. all employees of a single company.
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These employees of purchasing organization can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.

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