As Unilever puts it: plant-based proteins can be a real "game changer." The food giant has called them "The future of meat." Even an editorial in Meatingplace magazine (the meat industry's own trade publication) recommends "going beyond meat." It advises: "Rather than make and distribute only animal-derived, meat-based products, processors might redefine themselves as makers and distributors of protein products — then create, or acquire, companies and brands related to protein, regardless of origin."
Check out FAIRR's report titled "Plant-Based Profits" on investment opportunities in plant proteins.
Fast Company reported on the rise of meat-free eating in a 2018 article titled, “People are really, really into plant-based meats these days.” (Fast Company)
Packaged foods labeled “vegan” represented $9.7B in global retail sales in 2016 and are projected to reach $11.8B by 2021. (Wall Street Journal)
In the U.S. alone, meat substitutes will reach nearly $1B by 2021. (Wall Street Journal)
Plant-based protein could represent one-third of overall protein by 2054. (Lux Research)
New plant-based products grew 14.7% in 2014 while animal protein grew 7.5%. (Innova Market Insights)
Half of consumers 18 - 34 want the ability to swap plant-based proteins for animal-based proteins. (Technomic)
60% of millennials consume plant-based meats. (210 Analytics)
36% of consumers buy plant-based meats. (Mintel)
U.S. sales of almond milk topped $1B in 2014. (Packaged Facts)
Globally, the dairy alternatives market is predicted to be worth $19.5B by 2020. (Markets and Markets)
Non-dairy milk sales are up 30% since 2011, representing a $2B category. Growth is expected to continue outpacing dairy milk. (Mintel)
“The plant-based model is a lower-cost model because the cow is a relatively inefficient converter of grain into protein,” says Gregg Engles, former Dean Foods CEO. “The cost advantage of plant-based over dairy, we believe, will continue to grow.” (Food Business News)
“We actually think we are at a tipping point in terms of people starting to look at plants as an alternative to animal protein,” says Mark Schiller, president of North American Retail for Pinnacle Foods. (Food Business News)