A new report by Bloomberg Intelligence reveals that the plant-based meat and dairy sectors are growing at an unprecedented rate. It predicts they will exceed $162 Billion within 10 years.
At $29.4 Billion in 2020, this means the plant-based market is projected to expand by 451%.
The report notes that, “Flexitarians, people who eat a primarily vegetarian diet but occasionally eat meat or fish, constitute as much as a third of the U.S. population and are a key demographic for plant-based alternative meat products... Households that favor meat alternatives tend to have children, skew to college educated and have incomes over $50,000.”
Read the report here.
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