According to a recent article in Bloomberg News, it is no longer just the vegans and vegetarians that are consuming plant-based foods. Based on data from Nielsen and the Plant Based Food Association, milk, cheese, yogurt, and meat alternatives have been growing rapidly since 2017, while some traditional animal food products have been falling. In 2018, milk alternatives were valued at $1.6 billion dollars in the U.S, alone. Meanwhile, the traditional milk category has been rapidly declining since 2012, with sales decreasing by 6.42 billion pounds of milk.
And the trend is catching on- Whole Foods and Kroger predict that plant-based foods will continue to be on the rise for 2019. Consumers are not ditching animal-based food all together, but instead are looking towards other sources of protein – plant-based protein being the solution to close the demand gap.
Working with Perpetual Insights, this growing trend is something to keep an eye out for. We are constantly searching for the emerging brands that are reinventing the norm, the brands that are truly disruptive. We grow and scale emerging brand’s teams at critical junctures through executive talent recruitment. We develop talent within existing brands into high performing teams, and through our analytics platform can evaluate teams for companies to make better decisions.