Plant-Based Foods Could be Worth $74.2 Billion
Everywhere you look these days, there’s a plant-based product.
All as people around the world begin to adopt healthier, meat-free lifestyles. Tyson, Smithfield, Perdue, Hormel, and Nestle sell plant-based products, for example. Consumer goods giant Unilever just set a $1.2 billion annual sales target on plant-based foods over the next five to seven years, as reported by Veg News.
Even fast food chains are jumping on the bandwagon. McDonald’s for example just announced a meatless burger called the McPlant. Pizza Hut just partnered with Beyond Meat to offer plant-based pizzas across the country. Burger King, Carl’s Jr., White Castle, Dunkin’, and Del Taco are offering alternative meat choices, too.
In addition, according to a 2020 study by Ipsos Retail Performance, as noted by The Beet, about 9.7 million Americans now follow a plant-based diet up from just 290,000 in 2004. However, this may just be the start. With incredible demand likely, the plant-based market could be worth up to. $74.2 billion in the next seven years, according to Meticulous Research.