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Business

The Plant-Based Boom

Source: https://www.reveliolabs.com/news/social/the-plant-based-boom/

Had a plant-based sausage or some non-dairy cheese lately? Meat replacements and dairy alternatives have become increasingly popular over the past decade. Not only are these foods more environmentally friendly, but they are also a part of an extremely lucrative market: the plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027.

This week, we are looking at the workforce trends of large plant-based food producers. Since 2016, vegan food companies have doubled their workforce size.

Which companies have grown the most in the past two years? Swedish oat milk producer Oatly, which has grown by an impressive 187% since 2019, followed by meat replacement companies Impossible Foods and Beyond Meat.

What is the makeup of these companies? By looking at the composition of job categories at vegan firms, we see that engineers make up the largest group of employees, underscoring the heavy focus on food engineering, research and development at these companies.

But the rest of the food production world is not dormant: large food corporations like Kraft Heinz, Nestle, and Danone have been introducing their own plant-based lines and products. Below shows the percent change of employees at large food corporations with the keyword “vegan” or “plant-based” in their job descriptions, which has grown by 400% since 2016.

Key Takeaways:

  • Employment at vegan food companies has grown by 100% since 2016.
  • Oatly, Impossible Foods, and Beyond Meat are the three fastest growing companies since 2019.
  • Large food corporations like Nestle and Danone have also increased hiring of roles with plant-based product focus.

To learn more about the data behind this article and what Revelio Labs has to offer, visit https://www.reveliolabs.com/.

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For almost 10 years, Global 2000 corporations have trusted ETR’s proprietary technology research to capture real-time market activity. ETR produces market research through standardized surveys and round table discussions, not analyst opinions – our data driven approach quantifies the narrative driving the technology landscape. Marketing, Investor Relations, Corporate Strategy and Corporate Venture Capital teams no longer need to rely on anecdotal evidence to make business decisions. Vendors covered in our surveys gain mindshare among global IT leadership & gain key insights into navigating their competitive landscapes.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

ETR Research

ETR is a primary technology market research firm, capturing real-time evaluations and spending intentions from thousands of enterprise-leading technologists.

For almost 10 years, Global 2000 corporations have trusted ETR’s proprietary technology research to capture real-time market activity. ETR produces market research through standardized surveys and round table discussions, not analyst opinions – our data driven approach quantifies the narrative driving the technology landscape. Marketing, Investor Relations, Corporate Strategy and Corporate Venture Capital teams no longer need to rely on anecdotal evidence to make business decisions. Vendors covered in our surveys gain mindshare among global IT leadership & gain key insights into navigating their competitive landscapes.