Over the course of 2020, many of us decided to take our health into our own hands. This encouraging statistic shows us the rise of the plant-based sector and how this once considered ‘diet fad’ is now at the forefront of helping us all live a healthier, more balanced and sustainable life.
The plant-based diet first came to light in the 1980s, where Dr T. Colin Campbell introduced the term to describe a ‘low fat, high fibre, vegetable-based diet that focused on health and not ethics’. While the description may have changed slightly, the plant-based lifestyle encompasses environmental and sustainable awareness as part of it’s make up.
2020 forced us all, regardless of location to reflect on our own lifestyles. While we saw environmental benefits of humans staying confined indoors, we were encouraged to stay healthy both physically and mentally by taking stock of what we put into our bodies. According to a report by Food Frontier, the plant-based sector jumped exponentially during 2020.
The growth of plant-based cheese and dairy is looking extremely positive, with the vegan cheese market projected to increase by nearly 300% by the year 2030 as recorded in a 2020 report by Transparency Market Research. Even now, we can see the impact of plant-based cheese in the retail space, especially when sold in amongst everyday dairy products as opposed to being sold in vegan, health food or plant-based sections in the supermarket.
Retail sales in the plant-based meat sector jumped by 46% over the year, and manufacturing revenue doubled to $70 million. This was attributed to the fact that on average, national grocery retailers doubled the number of plant-based products on display.
According to Deloitte, consumer sales in the plant-based meat sector will hit $3 billion by 2030, up from an already incredible $185 million in the last financial year. The plant-based cheese market is currently set at $2.5 billion, with a projected compounded annual growth rate of approximately 10% over the next 10 years.
So why are people choosing plant-based now more than ever? Health concerns, coupled with environmental concerns, and making the informed decision to limit meat consumption. Australia is set to become an international leader in the plant-based meat sector, and with so many of us making the decision to limit meat consumption we can foresee a great future for our health, planet and animals in the years to come.
MyLife Bio is proud to be part of the plant-based sector, and proud to be part of the solution in helping foster a healthier life for our customers.
References:
https://insidefmcg.com.au/plant-based-meat-sales
https://www.ecowatch.com/plant-based-vs-vegan-diet
https://vegnews.com/vegan-cheese-industry-projected-to-increase