June 2021: Plant-based up 100% by 2050
April 2021: PB categories growing at astonishing rates
Data by the Plant Based Foods Association and The Good Food Institute revealed that the growth rate of US plant-based meat, dairy, and eggs sales has outpaced that of animal products for the third year running, with over 40% of consumers choosing non-dairy milk and one in six US households opting for 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.
April 2021: Plant-based diets to replace traditional diet within a century
Data revealed that the global vegan food market is predicted to reach $35.5 billion by 2027, while the meat market declined by 3% during 2020. According to Business Expert, this rate of growth indicates that plant-based diets could replace the traditional diet within the next century.
April 2021: Alt seafood to surge in growth
Report showed that the global plant-based fish market is projected to surge at an impressive CAGR of around 28% from 2021 to 2031, to top a valuation of US$ 1.3 billion by 2031. Interestingly, the report found that plant-based shrimp is to emerge as the most consumed type.
March 2021: PB meat worth $3bn by 2030
Results showed that, in 2019-20, the revenue from manufacturing plant-based meats was $69.9M, twice what it was in 2018-19. According to the report, if the levels of growth seen over the past year continue then the industry could be worth $3Bn by 2030.
April 2020: Huge market growth due to Covid
Study found that the market for global plant-based meat is projected to grow from USD 3.6 billion in 2020 to USD 4.2 billion by 2021, owing partly to the health benefits perceived by consumers during the pandemic.