Recent IRI data shows continued strength in the plant-based meat substitute category, growing 10% (category-wide) from fall 2018 to fall 2019. Morningstar farms continues to be the share leader with over 40%, but Beyond Meat growth has outpaced the market and given them 10% share. Equally impressive is how other categories, such as dairy (milks, yogurts, ice cream) are all seeing plant-based alternatives growing as a percent of the category. Is this growth being driven by a huge increase in people becoming vegan? Hardly. Introducing the Flexitarian – people who are trying to incorporate more plant-based foods into their diet. In fact, IRI says 55% of consumers fall into this camp. As health & wellness through improved dietary choices continues to gain more importance, expect this trend to continue.
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