Plant-Based Food Demand Outpacing Total Food Sales
Plant-based food demand is just beginning to outpace total food sales.
“This new data shows that consumers are turning to plant-based food options now more than ever,” said Julie Emmett, senior director of retail partnerships at the Plant Based Foods Association (PBFA). “Even after the highest panic-buying period, plant-based foods growth remains strong, proving that this industry has staying power.”
Better, the market shows no signs of slowing.
By 2025, the market could be worth well over $27.9 billion, according to Markets and Markets.
Better still, UBS analysts say the alternative meat market could grow 28% a year to $85 billion in the next 10 years, as reported by Business Insider. Euromonitor estimates that the market for plant-based foods could be worth $2.5 billion by 2023, reports CNBC.