New data released today by the Plant Based Foods Association and The Good Food Institute reveals that US sales of plant-based meat, dairy, and eggs have outpaced sales of animal products for the third year running, with over 40% consuming non-dairy milk and one in six US households consuming plant-based meat. Plant-based cheese grew by 42% – almost twice the rate of dairy cheese, while plant-based eggs grew 168%, almost 10 times the rate of poultry eggs.
Report Reveals How Brands Can Capitalize on Plant-Based Protein Trends in 2024
The Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) recently conducted a comprehensive survey to examine consumer attitudes and behaviors toward plant-based proteins. The survey, which included 1,500 Americans aged 18-65, was carried out in late 2023. The results, compiled into a detailed report by Dig Insights, provide valuable insights into the current landscape, health perceptions, and barriers within the plant-based protein market. Current Landscape According to market analysts, the plant-based protein market has experienced consistent YOY growth and is projected to continue at a CAGR of 8.6% until 2034. Despite this, many consumers remain unfamiliar with plant-based proteins, suggesting a large potential market waiting to be tapped. While veganism initially boosted the popularity of plant-based diets, non-vegan consumers now incorporate plant-based …