New data shows sales of plant-based foods are growing faster than the animal products they aim to replace, with vegan meat sales growing up to 12 times faster than sales of animal flesh
When it comes to particular categories:
sales of plant-based milk (up by six percent in the last year) now comprise 13 percent of the entire milk category—with cow milk sales down by three percent in the same period.
Plant-based meat currently makes up two percent of all packaged meat and is a $800 million industry, with sales up by 10 percent in the past year and an increase of 37 percent in sales in the vegan refrigerated meat sector. For comparison, sales of animal meat grew by only two percent during the same period.
Sales of vegan yogurt, cheese, and ice cream are steadily rising (up by 39 percent, 19 percent, and 27 percent, respectively), sales of the traditional dairy versions of these items are either declining or stagnant.