The plant-based food industry is bouncing back in a big way, with new data showing a remarkable 20% growth in sales over the past year.
After a challenging 2022, the recent surge in demand for plant-based alternatives signals a renewed consumer interest in healthy, sustainable, and innovative food choices.
According to the Plant Based Foods Association (PBFA), the industry has seen total sales exceed $3.3 billion. This growth isn’t limited to vegan or vegetarian shoppers—mainstream consumers are now embracing plant-based meats, dairy alternatives, and more.
Dairy Alternatives Lead the Charge
One of the most exciting trends is the explosive rise of plant-based dairy alternatives (excluding milk), which saw a 50% surge. Plant-based creamers, for instance, experienced an astonishing 131% increase in sales.
In contrast, cow’s milk sales have declined by 6%, while plant-based milk continues to hold strong, now accounting for 15% of all milk sales in the U.S.
Other categories like plant-based cheeses and yogurts are also showing impressive growth, up 43% and 55%, respectively. These products are no longer niche—people from all walks of life are discovering their taste, quality, and environmental benefits.
Plant-Based Meats Gaining Serious Ground
Meanwhile, the plant-based meat sector is also booming, with sales growing by 24%, demonstrating the wide appeal of meatless alternatives.
PBFA Executive Director Michele Simon noted, “The data confirms what we’re hearing from across the industry: sales are up, investments are pouring in, and the plant-based foods sector is creating jobs.”
The significant strides made in 2023 mark a turning point for the plant-based industry after the setbacks of the previous year. With momentum on our side, there’s every reason to be excited for the future of plant-based eating!
Image: Beyond Meat
