//Vegan Food Sales Spike to $3.7 Billion in 12 Months

Vegan Food Sales Spike to $3.7 Billion in 12 Months

Sales of plant-based meals amounted to $3.7 billion within the final 12 months, in accordance with new knowledge collected by market analysis agency Nielsen and commissioned by meals advocacy group Good Food Institute (GFI). The knowledge—drawn from Neilsen’s Expanded All Outlets Combined Channel for the 52-week interval ending on August 11, 2018—confirmed that whereas all US retail gross sales solely grew by two p.c, gross sales of plant-based meals elevated by 17 p.c throughout the 12-month time interval. Plant-based meat gross sales grew by 23 p.c—a US retail market now value $684 million—and, in accordance with GFI, had been bought by 14.7 million households nationwide. Beyond Meat represented essentially the most sturdy development within the class with gross sales up by 70 p.c, with Field Roast and Gardein growing gross sales by 68 p.c and 51 p.c, respectfully. “The plant-based meat class as we speak is harking back to the plant-based milk class about 10 years in the past, when development started to essentially take off,” Caroline Bushnell, Senior Marketing Manager at GFI, stated. “As it follows that trajectory, reaching share of market parity with plant-based milk would make the retail plant-based meat class value nearly $10 billion.” According to the information, plant-based milk is now accessible at 89 p.c of outlets and represents 13 p.c of complete milk gross sales nationwide, with substantial gross sales development in different dairy-free options classes, together with ice cream (40 p.c), cheese (41 p.c), yogurt (54 p.c), and creamers (62 p.c).

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