US Plant-based Food Market To Grow by 9.69% Annually

The US plant-based food industry was valued at USD5.6bn in 2020 and is expected to increase to USD10.7bn in 2027. Meanwhile, the plant-based food market in the US is expected to grow with a CAGR of 9.69%.

Plant-based food is derived from plants, including vegetables, fruits, grains, seeds or legumes, beans, and oil. Plant-based products considered to be more digestible as compared to animal-based food. In the United States, people are shifting towards plant-based foods, which attributes to the US non-vegetarian or dairy industry’s impact, according to a new report by Renub Research.

Plant-based milk has wide application in the food and beverage industry. Various plant milk types like soya, almonds, coconuts, oats, and rice milk are present in the market. Americans prefer plant milk over any other dairy or animal milk because of its high nutrition value, Omega-3 fatty acid, and vitamins.

According to a press release, there has been phenomenal growth in the number of people who are turning vegan and preferring a plant-based diet. Due to this, many full services restaurants in the US also offer varieties of plant-based products depending upon their customer’s preferences and needs.

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