Source: POLITICO'S MORNING AGRICULTURE, 7/31/18

Sales of plant-based foods developed to directly replace animal products like dairy, meat and eggs rose by more than 20 percent in one year, topping $3.3 billion in revenue, according to a new report from Nielsen that was commissioned by the Plant Based Foods Association.

Milk alternatives, including almond and soy beverages, accounted for more than half of those sales and had a 9 percent growth rate over the year before. Alternatives to yogurt, cheese and other dairy items represented about 22 percent of those sales — increasing by nearly 50 percent. Sales of meat substitutes reached $670 million, a 24 percent jump.

Nielsen compiled the data on specific categories over a 52-week period ending in mid-June. This is the second year that the PBFA, which represents 114 companies like Beyond Meat and Blue Diamond Growers, commissioned the report.