Plant-based foods are ubiquitous in the market today, and at the core of that category is plant-based meats. According to the Plant Based Foods Association, 2020 sales of plant-based meats accounted for $1.4 billion (45.3% year-over-year growth) of the $7 billion plant-based foods industry. Only plant-based milks ($2.5 billion) sold more, and 63% of shoppers who purchased plant-based meats in 2020 were return customers—a sign those products are becoming household staples.
This rapid category growth even has legacy meat manufacturers like Tyson, Smithfield, and many others, taking notice. As a result, alternative protein brands like Tyson’s Raised & Rooted, and Smithfield’s Pure Farmland, for example, have launched, competing for plant-based dollars with dozens of other established and startup brands.