Research firm Innova Market Insights found that new product launches with a “plant-based” claim totaled 320 in 2016 in the United States. In 2015, that number was 220, which grew from only 196 such product launches in 2014. These findings are supported by market research firm Technavio, which predicted that new vegan product launches will grow by 11 percent annually from 2016 until 2020. Consulting company HealthFocus International (HFI) recently conducted an online survey and found that many respondents are eschewing animal products as a long-term solution toward better health, as well as concerns about animal welfare and the environment. “These changes are not a fad,” HFI’s President Steve Walton said. “They are a permanent lifestyle.” New launches in the plant-based products category aren’t limited to vegan companies, as evidenced by Ben & Jerry’s introduction—and continued expansion—of its almond-milk based ice cream line.
Want more of today’s best plant-based news, recipes, and lifestyle?
Get our award-winning magazine!