The U.S. plant-based food market has seen a massive spike in the past year, with dairy alternatives having increased with 20 percent.
According to new data, American retail sales of vegan foods and beverages grew with 8.1 percent in the last 12 months.
Sales of plant-based dairy alternatives, excluding milk, rose 20 percent, which amounted to over $700m – with an additional 3 percent growth seen in plant-based milks.
Compiled by leading market research company Nielsen, the new data included information from all outlets: grocery stores, drug stores, mass merchandisers, and military stores.
Bruce Friedrich, executive director of The Good Food Institute commented: “There is a revolution going on in the plant-based meat space.”
Plant meats are up 23 percent, while animal-based products have seen a decline.
Research shows that cow’s milk sales have reduced by 5 percent in the past year.
Plant Based Foods Association executive director Michele Simon said: “It’s exciting to see the steady growth of the plant-based foods industry.
“With this new baseline data, we have a solid foundation for this young industry to grow each year.”