Plant-Based Profitability

Businesses are Taking Notice in 2019!

  • The plant-based meat market is predicted to reach a value of $140 billion by 2029 according to the financial firm Barclay’s
  • CKE sold over 4 million Beyond Patties at Carl’s JR. most of which to new customers according to Owen Klein, VP Global Culinary Innovation at CKE
  • The Impossible Whopper increased Burger King traffic by 18% according to a report by inMarket inSights
  • 51% of chefs in the United States added plant-based menu items in 2018 according to a study by Foodable Labs which led to a 13% increase in business
  • The Economist called 2019 the year of the vegan and the year that veganism goes mainstream
  • The vegan food market is estimated to reach $24.3 billion by 2026 and grow at CAGR above 9.1% according to Acumen Research and Consulting
  • There was a 600% increase in the number of people identifying as vegans in the US between 2014 and 2017 according to GlobalData
  • Plant-based meat sales hit $19.5 billion in 2018 according to market research firm Euromonitor International
  • Restaurant consultancy group Baum + Whiteman called plant-based foods the top trend of 2018
  • Nielsen data shows that nearly 40% of Americans are trying to incorporate more plant-based foods into their diets
  • 63% of millennials identify as flexitarian, eating mainly plant-based diets, according to sales and marketing firm Acosta
  • According to restaurant consultancy group Baum + Whiteman, 58% of adults choose to drink non-dairy milk instead of dairy milk
  • 60% of meat will not come from animals by 2040 are set to disrupt the 1,000 billion conventional meat industry according to consulting firm AT Kearney
  • Beyond Meat’s first day of trading at NASDAQ represents the most successful initial public offering of 2019
  • Google saw a 90% increase in vegan-related searches in 2016 alone and in 2017 Google reported that searches for vegan have never been higher
  • Forbes called plant-based eating one of the hottest trends in recent years
  • Nestle, the largest food company in the world, predicts that plant-based foods will continue to grow and that the plant-based trend is here to stay
  • Celebrity chefs including Gordon Ramsey and Jamie Oliver are praising the plant-based trend with encouraging fans to eat more plant-based meals  
  • Plant-based foods were the most ordered trend on Uber Eats in 2018 and Uber Eats predicted plant-based foods to be the top trend of 2019
  • Major meat and dairy food companies are acquiring plant-based suppliers
  • Kaiser Permanente, the Dietary Guidelines Advisory Committee, and the American Institute for Cancer Research recommend a plant-based diet
  • A survey conducted by Harris Poll found that 37% of 2,000 people surveyed sometimes ate plant-based meals when they went out to restaurants