Food Magazine December 2018 | Page 61

05

Plant-based food

Some trends may come and go but it seems the plant-based food movement is more than just a fad . Last year , sales of plant-based food in the US went up by 8.1 % compared to the year before , topping US $ 3.1bn , according to research carried out by Nielsen for the Plant Based Foods Association ( PBFA ). Additionally , whilst plant-based milk sales grew 3.1 % last year , cow ’ s milk sales declined 5 % and are projected to drop another 11 % through 2020 , according to Mintel . Recognised by business leaders and executives alike , the plantbased food and beverage market has seen growing investments , mergers and acquisitions . For instance , last year , Nestlé bought vegetarian company Sweet Earth Foods . Commenting on the acquisition , Nestlé USA chairman and CEO , Paul Grimwood , said : “ One of Nestlé ’ s strategic priorities is to build out our portfolio of vegetarian and flexitarian choices in line with modern health trends .”
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