In recent years, the food industry has experienced a growing demand for plant-based protein and dairy products so much so that late last year, Tyson Foods  –  one of the world’s largest meat producers – purchased a stake in a Silicon Valley startup that makes plant-based beef and chicken primarily from pea protein.  Plant-based dairy production is also on the rise.  Earlier this year, Daiya – a plant-based dairy foods company marketing dairy-, gluten- and soy-free – was recently ranked as the #1 fastest growing plant-based food company.

Earlier this month, The NPD Group (a leading global information company) announced findings that the market for plant-based alternatives to dairy products is gaining steam, though it remains a niche area.  In particular, NPD reports that the consumption of plant-based dairy alternatives has grown to 21 annual eatings per capita in 2016, up from 19 in 2013.  Nevertheless, the report also found that the consumption of plant-based alternatives continues to pale in comparison to dairy and meat consumption.  NPD concludes that the market for plant-based alternatives continues to evolve as consumers increasingly turn to these products because of food allergies or because they are seeking “clean” label, ethically-minded foods.

In light of evolving consumer tastes and trends, the market for plant-based foods appears to be ripe for continued expansion.