Plant-based food demand soaring
Plant-based food consumption is growing and set to grow even more, according to new data.
New data from the Plant-Based Foods Association shows vigorous sales growth for the plant-based food industry, with a dollar sales growth of 20 percent over the last year.
The data, which the trade group commissioned from Nielsen, shows that the total market for the plant-based food sector (as defined below) in Nielsen’s Expanded All Outlets Combined Channel is up 20% in dollar sales over the last year, as compared to an increase of 2% all foods sold in the same channel.
“The plant-based foods industry has gone from being a relatively niche market to fully mainstream,” said Michele Simon, Executive Director of the Plant Based Foods Association. “Plant-based meat and dairy alternatives are not just for vegetarians or vegans anymore; now even mainstream consumers are enjoying these delicious and innovative options in the market today.”
The data shows that “other” plant-based dairy alternatives, which excludes milks, are experiencing explosive growth and are up 50 percent. Other plant-based dairy alternatives include plant-based cheeses, creamers, butter, yogurts and ice creams. Plant-based food sales are topping $3.3 billion.
“The new data confirms what we are hearing and seeing every day from our members: sales are up, investment is increasing, and new jobs are being created in the plant- based foods industry,” said Simon. “It is important that regulators and legislators treat our industry fairly and the playing field for plant-based foods is level and fair at the state and national levels.”
To read complete survey findings, click here.