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Plant-based food market to skyrocket to $162b within next 10 years
Other - OCTOBER 25, 2021

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Plant-based food market to skyrocket to $162b within next 10 years

by Released

The plant-based food market will exceed $162 billion within the next decade. A growing preference for sustainable, healthier foods is pushing the movement, according to Bloomberg Intelligence (BI).

BI provides research on more than 2,000 companies, 135 industries and all global markets. The plant-based food market was valued at $29.4 billion in 2020. This means if BI’s predictions are correct, the market will soar by 451 percent. Major plant-based meat and dairy brands such as Beyond Meat, Impossible Foods and Oatly are driving some of this growth. Their partnerships with restaurants, fast-food chains and global food manufacturers are making vegan options more accessible to the masses. Additionally, the collaborations are challenging stereotypes around plant-based food. According to Jennifer Bartashus, BI’s senior consumer staples analyst, the meat-free movement isn’t slowing down. “Food-related consumer habits often come and go as fads, but plant-based alternative

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