CPG - Plant-Based Food Market Generates Over $7 Billion in Revenue During Pandemic

Some industries might have crumbled during the pandemic, but others, like the plant-based industry, experienced massive growth thanks to the growing health consciousness among consumers. Last year, the US plant-based food market grew by 27% to reach $7 billion, growing nearly twice as fast as the total US retail food market. The plant-based milk category took the lead at $2.5 billion, accounting for 35% of the total plant-based food market, while plant-based meat brought in $1.4 billion. Following this shift in consumer interest, companies such as Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF), Oatly (NASDAQ:OTLY), The Hain Celestial Group ...