We have some very exciting and encouraging news to share. The plant-based foods industry is seeing tremendous growth, with sales up 20% since last year! According to a new study that we commissioned from Nielsen, a leading retail sales data company, plant-based food sales topped $3.3 billion over the past year.
Since PBFA released Nielsen retail sales data last year, the growth of plant-based sales has more than doubled, amazing!
This growth is significant, especially compared to the sales of all foods, which grew just 2%. Yes, plant-based foods are outpacing sales of all retail foods by 10X!
Plant-based dairy alternatives are an explosive-growing category, with 50% growth. This category includes plant-based cheeses, creamers, butter, yogurts, and ice creams (but not plant-based milk). Plant-based milk now represents 15% of the total milk market.
The plant-based food industry is booming! This is exciting news for a growing industry and the millions of consumers who are enjoying the wide-variety of great-tasting plant-based foods. And these foods are not just for vegetarians or vegans anymore; now mainstream consumers are also enjoying these delicious and innovative options.
In particular, sales of three plant-based dairy alternatives are growing at very exciting rates:
- Plant-based cheeses grew an impressive 43%, with $124 million in sales.
- Plant-based yogurts grew 55% with sales at $162 million.
- Plant-based creamers grew and incredible 131% over last year!
For more information, check out our press release here, which contains more data and our methodology. And please spread the word!