Retail sales of plant-based foods jumped 20 percent over the past year.
The Plant-Based Foods Association says new data shows sales of plant-based foods topped $3.3 billion, with milk alternatives generating $1.5 billion of total plant-based sales. Other dairy alternatives, such as plant-based products imitating yogurt, cheeses and ice cream, accounted for $727 million in sales, up 19.8 percent from the prior reporting period.
In a statement, Plant-Based Foods Association Executive Director Michelle Simon said the data confirms that “sales are up, investment is increasing, and new jobs are being created in the plant-based foods industry.”
The data comes as all food sales increased just two percent over the last year, and at a time with the Food and Drug Administration, at the request of the dairy industry, will begin to enforce labeling requirements for dairy products, meaning the plant-based industry may face a wave of label and product name changes.
From the National Association of Farm Broadcasting News Service.