The Latest Plant Based Industry Statistics Explained
As of 2021, the global plant-based food market is worth $29.4 billion.
The statistic indicates that in the year 2021, the worldwide market for plant-based food products has reached a value of $29.4 billion. This significant figure reflects the growing consumer trend towards plant-based diets and the increasing popularity of plant-based alternatives to traditional animal-derived foods. The market’s substantial value underscores the expanding demand for plant-based options among consumers seeking healthier, sustainable, and ethical food choices. As a result, food industry players are increasingly investing in and innovating plant-based products to meet this demand and capitalize on the rapidly growing market opportunity presented by the global shift towards plant-based diets.
The plant-based food market is expected to grow at a compound annual growth rate (CAGR) of 19.4% from 2021 to 2028.
The statistic indicates that the plant-based food market is projected to experience significant growth over the period from 2021 to 2028, with a compound annual growth rate (CAGR) of 19.4%. This means that on average, the market is anticipated to expand by 19.4% each year during this time frame. Such a high CAGR suggests a robust and sustained growth trajectory for plant-based food products, driven by factors such as increasing consumer awareness about health and sustainability, changing dietary preferences, and advancements in plant-based food technology. This growth rate implies significant opportunities for businesses operating in the plant-based food sector, as well as a notable shift towards plant-based diets in the broader food industry.
Plant-based milk products made up 63% of the total plant-based food market in 2020.
This statistic indicates that plant-based milk products accounted for a significant portion, specifically 63%, of the total market for plant-based foods in the year 2020. This suggests a strong consumer preference for plant-based milk alternatives over other plant-based food options such as meat substitutes, tofu, or plant-based cheeses. The popularity of plant-based milk products could be attributed to various factors, including health considerations, environmental concerns, ethical reasons, and lifestyle choices of consumers. The substantial market share held by plant-based milk products highlights the growing demand for dairy alternatives and the shifting trends in food consumption towards more sustainable and plant-based options.
In 2020, retail sales of plant-based foods in the U.S. grew 27%, bringing the total plant-based market value to $7 billion.
The statistic states that in 2020, there was a 27% increase in the retail sales of plant-based foods in the United States, resulting in a total market value of $7 billion for plant-based products. This growth highlights the rising consumer interest in plant-based alternatives compared to traditional animal-based foods. Factors contributing to this increase may include health and environmental concerns, as well as advancements in plant-based food technology leading to more accessible and diverse options. The strong growth in retail sales of plant-based foods suggests a notable shift in consumer preferences towards plant-based diets, indicating potential continued growth in the plant-based market in the future.
The plant-based meat market is projected to reach $35.4 billion by 2027.
The statistic “The plant-based meat market is projected to reach $35.4 billion by 2027” indicates the expected market size for plant-based meat products in the upcoming year 2027. This projection suggests a significant growth trend in the plant-based meat industry, showing an increasing consumer interest and demand for meat alternatives. Factors such as health and environmental concerns, as well as changing dietary preferences, are likely driving this growth in the plant-based meat market. The $35.4 billion figure highlights the substantial market opportunity that exists for companies operating in this sector and underscores the potential for continued expansion and innovation within the plant-based meat industry.
Oat milk, a plant-based alternative, saw a 182% increase in sales in 2020.
The statistic that oat milk, a plant-based alternative, saw a 182% increase in sales in 2020 indicates a significant surge in consumer demand and popularity for this particular product compared to the previous year. This substantial growth suggests a shift in consumer preferences towards plant-based options and a potential decrease in traditional dairy milk consumption. The 182% increase quantifies the percentage change in sales volume from 2019 to 2020, reflecting the rate at which oat milk sales have risen. Such a high percentage increase highlights the rapid adoption and market acceptance of oat milk as a popular choice among consumers seeking dairy alternatives, possibly driven by factors such as health consciousness, sustainability concerns, and flavor preferences.
In 2020, U.S. sales of plant-based cheese increased by 42.5%.
The statistic “In 2020, U.S. sales of plant-based cheese increased by 42.5%” indicates a significant growth in the market for plant-based cheese products in the United States. This substantial increase suggests a shifting consumer preference towards plant-based alternatives to traditional dairy cheese, likely driven by factors such as health, sustainability, and ethical considerations. The growth of plant-based cheese sales by 42.5% also highlights the rising popularity and acceptance of plant-based products in the mainstream food market, presenting opportunities for further expansion and innovation within the plant-based food industry.
China’s plant-based meat market is estimated to reach $12 billion by 2023.
The statistic “China’s plant-based meat market is estimated to reach $12 billion by 2023” indicates the projected size of the plant-based meat industry within China by the year 2023. This suggest a significant growth potential for plant-based meat products in the Chinese market as consumers are increasingly looking for alternatives to traditional animal-based products due to concerns about health, sustainability, and animal welfare. The projected market value of $12 billion highlights the growing demand for plant-based meat in China, signaling opportunities for businesses to invest in this fast-growing sector and meet the evolving preferences of consumers in the region.
Asia’s plant-based meat market is expected to increase from $1.7 billion in 2020 to $4.3 billion by 2025.
The statistic regarding Asia’s plant-based meat market indicates a significant growth trajectory within a relatively short time frame. Specifically, it highlights a projected increase in market value, from $1.7 billion in 2020 to $4.3 billion by 2025, signifying a substantial expansion in consumer demand and market penetration of plant-based meat products across Asian countries. This upward trend reflects changing consumer preferences towards more sustainable and ethical food choices, as well as the growing awareness of the environmental impact of traditional meat production. The statistic suggests that the plant-based meat industry in Asia is poised for rapid growth and offers promising opportunities for businesses operating in this sector.
Four out of ten Americans are actively trying to integrate plant-based foods into their diet.
The statistic that four out of ten Americans are actively trying to integrate plant-based foods into their diet indicates a growing trend towards plant-based eating habits in the United States. With nearly half of the population consciously including more plant-based foods in their diet, it suggests a shift towards healthier and more sustainable dietary choices. This statistic reflects an increasing awareness of the health benefits associated with plant-based diets, such as lower risks of chronic diseases like heart disease and diabetes, as well as the environmental impact of reducing meat consumption. As more Americans embrace plant-based foods, it highlights a potential shift in dietary patterns that could have long-term implications for individual health and the food industry as a whole.
56% of US households purchase plant-based foods.
The statistic “56% of US households purchase plant-based foods” indicates that a majority of households in the United States buy food items that are derived from plants, such as fruits, vegetables, grains, legumes, nuts, and seeds. This suggests a significant shift towards a plant-based diet among consumers, likely driven by factors such as health concerns, environmental considerations, and ethical beliefs. The widespread adoption of plant-based foods reflects changing preferences and attitudes towards food choices, highlighting the increasing demand for sustainable and healthier options in the food industry.
By 2026, the plant-based food industry in Australia is expected to reach over $4.1 billion.
The statistic “By 2026, the plant-based food industry in Australia is expected to reach over $4.1 billion” forecasts a substantial growth in the Australian market for plant-based foods over the next few years. This projection indicates a significant shift in consumer preferences towards plant-based alternatives due to factors such as health consciousness, environmental concerns, and ethical considerations. The rising demand for plant-based products will likely drive innovation and investment in the industry, leading to a robust market expansion. The estimated value of over $4.1 billion suggests a promising future for plant-based food businesses in Australia, highlighting the potential for economic growth and sustainability within the sector.
Germany is the largest market for plant-based foods in Europe, generating $918 million in 2020.
The statistic indicates that Germany holds the leading position as the largest market for plant-based foods in Europe based on the revenue generated in 2020, which amounts to $918 million. This suggests a significant consumer demand for plant-based products in Germany, reflecting a growing interest in plant-based diets and sustainability practices among the population. The substantial market size also implies a favorable environment for companies operating in the plant-based food industry to thrive and expand their presence in the German market. Additionally, the statistic underscores the potential for further growth and innovation in the plant-based food sector in Germany, paving the way for new products and market opportunities in the future.
As of 2020, there are 600,000 vegans in the UK, representing 1.16% percent of the population.
The statistic states that as of 2020, there are 600,000 individuals in the UK who identify as vegans, constituting approximately 1.16% of the total population. This figure indicates a growing trend towards veganism in the country, where people choose to follow a plant-based diet for various reasons such as health, environmental concerns, or animal welfare. The percentage of vegans in the population serves as a measure of the prevalence of this dietary choice and can be used to track changes in dietary trends over time. Additionally, the statistic provides insight into consumer preferences and highlights the importance of offering vegan-friendly products and options in various sectors like food, retail, and hospitality to cater to this segment of the population.
By 2025, the plant-based market in the Middle East and Africa is estimated to reach $805 million.
The statistic indicates that the plant-based market in the Middle East and Africa is projected to experience substantial growth, with an estimated value of $805 million by the year 2025. This forecast suggests a rapidly expanding consumer interest in plant-based products within the region, driven by health, sustainability, and ethical considerations. The rise of this market reflects changing dietary preferences and a growing awareness of the environmental impacts of animal agriculture. The statistic underscores the potential economic opportunities within the plant-based sector in the Middle East and Africa, highlighting a shift towards a more plant-centric food industry in the region over the coming years.
Plant-based protein demand in Canada is predicted to grow by 14% annually until 2026.
The statistic indicates that there is a forecasted 14% annual growth rate in the demand for plant-based protein products in Canada up to the year 2026. This growth rate signifies a substantial increase in consumer interest and consumption of plant-based protein sources over the next few years. Factors driving this growth could include changing dietary preferences towards plant-based alternatives, increasing awareness of the health and environmental benefits of plant-based proteins, and the expanding availability and marketing of plant-based protein products in the Canadian market. This prediction suggests a significant shift towards plant-based diets and a potential market opportunity for businesses within the plant-based protein industry in Canada.
By 2035, the global plant-based food industry is set to be worth $162 billion.
The statistic “By 2035, the global plant-based food industry is set to be worth $162 billion” indicates the projected growth and value of the plant-based food sector in the global market by the year 2035. This forecasted value suggests a substantial increase in consumer demand for plant-based food products, driven by factors such as growing awareness of environmental sustainability, health benefits, and ethical concerns related to animal agriculture. The estimated value of $162 billion highlights the significant economic potential and market opportunities within the plant-based food industry, signaling a shift towards more plant-centric diets on a global scale. This statistic underscores the increasing trend towards plant-based eating and the potential for continued growth and innovation within the plant-based food sector in the coming years.
References
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