The Plant-Based Foods Association and the Good Food Institute released data this week showing that the total market for plant-based food sales is over $3.1 billion.
The data shows the growth in plant-based food sales at 8.1 percent over last year. Plant-based dairy alternatives are a fast-growing segment, with 20 percent growth and topping $700 million in sales over the past year. The category excludes milks but does include cheese, yogurts, and ice cream. Yogurt sales jumped 56 percent over last year.
The plant-based milk category sales are up 3.1 percent from 2016. Over the same period, Nielsen Research, which did the study, shows cow milk sales down 5 percent. The findings come as a bill sits before Congress which would prohibit plant-based food marketers and manufacturers from using words like “milk,” “cheese,” or “yogurt,” even with the appropriate modifiers like “soy,” “almond,’ and “dairy-free.”
The Nielsen Research data even showed that the plant-based meat sector grew by six percent over last year. Bruce Friedrich, Good Food Institute Executive Director, calls it a revolution that’s taking place in the plant-based meat space.