The data experts at Nielsen have spoken: This will be the summer of delicious plant-based burgers! Nielsen recently reported that vegan meat sales have jumped by a huge 13.5 percent in the past year, far exceeding the 2.6 percent increase for traditional meats.
This news is not surprising. According to a report from MarketsandMarkets, the plant-based meat market is projected to reach 27.9 billion U.S. dollars by 2025, and the signs of change are everywhere.
Multiple news outlets report that Beyond Meat stock prices have skyrocketed by more than 300 percent in just one month. With a revenue of $40.2 million, Beyond Meat exceeded analysts’ estimated $38.9 million for its first quarter. Beyond Meat now expects revenue above $210 million for the year, a 140 percent increase from 2018.
Burger King and Red Robin recently made a splash by debuting the Impossible Burger at many of their restaurants. Impossible Foods, makers of the plant-based patty, has also brought vegan ground beef to Qdoba nationwide and Moe’s Southwest Grill locations in Manhattan. The company has even partnered with Little Caesars to create a plant-based sausage topping.
Competition is rising for Beyond Meat and Impossible Foods; new vegan brand Before the Butcher is set to launch in three of the country’s largest grocery retailers this summer. Even more incredible, Nestlé is planning to release its own vegan burger this fall, and Tyson Foods is developing its own plant-based products.
As compassionate, health-conscious consumers become more aware of what they put into their bodies, the popularity of plant-based meat will continue picking up speed.
Countless studies prove that plant-based foods are significantly healthier than animal products and that a plant-based diet reduces one’s risk of cancer, heart disease, diabetes, and obesity. In fact, a study from Harvard Medical School found that at least one-third of early deaths could be prevented if everyone switched to a plant-based diet.
What’s more, researchers at the Mayo Clinic found that long-term vegetarians lived on average 3.6 years longer than their meat-eating counterparts.