A study conducted by Nielsen, a leading market research company, has indicated that plant-based foods sales have risen 8.1% in the last 12 months. The data which included information from all outlets (including grocery stores, drug stores, military stores and mass merchandisers) has also shown that whilst plant-based products continue to rise in sales, animal products are seeing a decline.
Overall food sales in the US have fallen by 0.2% this year, but that hasn’t stopped plant-based foods from selling. Dairy alternatives in particular have seen a huge amount of growth this year, with a 20% increase which amounted to $700 million worth in sales over the past year. This includes plant-based alternatives to cheese, yoghurts and ice-creams but doesn’t included milk alternatives.
While some sectors have achieved modest feats, with plant-based milk growing just over 3% to now account for nearly 10% of total milk sales, other products have reached massive heights. Tofu alone was responsible for $91 million worth of sales in the US last year. This is likely a reflection on the public’s desire for clean protein, as products high in the nutrient ‘drove the highest dollar growth within the diet and nutrition, desserts and yogurt categories.’
Products containing Jackfruit, a fruit often used as a meat substitute grew by a massive 377% in the past year and shows how the US public are moving towards healthier, plant-based options to replace meat in meals.
Overall, plant-based products accounted for an extra $3.1 billion dollars in comparison to the previous year. Product distribution of some major players in the plant-based food industry, such as Beyond Meat, has increased dramatically in recent months and the vegan food industry is only set to continuing growing in the foreseeable future.