A recent report by data company SPINS revealed that the plant-based industry made more than $5 billion in sales over a 52-week period ending on January 22, 2017. The report analyzed sales within the industry in four categories—including non-dairy beverages, meat alternatives, cheese alternatives, and tofu products. SPINS found that plant-based milk products grew by 13.1 percent and captured $4.3 billion in sales last year. The report found that cheese alternatives (which made $104 million in sales) are the fastest growing at 34.1 percent, and total plant-based meat sales exceeded $606 million. “The steady growth of the plant-based foods industry shows that consumers continue to shift away from animal products towards plant-based options,” executive director of food advocacy firm Plant Based Food Association Michele Simon said. Several food industry analysts predicted exponential growth of the plant-based sector in coming years, and a recent report compiled by market intelligence agency Mintel revealed that products with a vegan claim increased by 257 percent since 2011.
Love the plant-based lifestyle as much as we do?
Get the BEST vegan recipes, travel, celebrity interviews, product picks, and so much more inside every issue of VegNews Magazine. Find out why VegNews is the world’s #1 plant-based magazine by subscribing today!