Plant-Based Profitability
Businesses are Taking Notice!
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