Plant-based industry boosts US economy by $13.7 billion

Read Time:   |  23rd September 2016

A new report compiled by trade organisation Plant Based Food Association (PBFA) found that the plant-based food industry contributes $13.7 billion annually to the United States economy.

A new report compiled by trade organisation Plant Based Food Association (PBFA) found that the plant-based food industry contributes $13.7 billion annually to the United States economy.

The report utilised the 2016 IMPLAN model—a standard system that estimates the impact of any given industry on the economy—and deduced that not only did the plant-based sector create more than 60,000 jobs to date, but those employed within the industry are paid $13,000 more per year than the average American salary.

The report cited that the sector contributes $1.1 billion annually to the US economy through the payment of federal and state taxes—which is estimated to reach $13.3 billion over the next decade. “This new data, combined with recent environmental research showing that meat substitutes produce 10 times fewer greenhouse gas emissions than similar beef products,”executive director of the Plant Based Foods Association Michele Simon says, “points to why public policies should support the growing plant-based foods industry.”

“This new data, combined with recent environmental research showing that meat substitutes produce 10 times fewer greenhouse gas emissions than similar beef products, points to why public policies should support the growing plant-based foods industry,” said Michele. “Plant-based foods are not only great for the nation’s economic health, they’re better for your own health and have a lighter environmental footprint,” she added.

The PBFA is a trade group representing the $4.9 billion plant-based market category, with founding members such as The Tofurky Co., Daiya Foods, and Follow Your Heart, amongst others.

This article first appeared on Plant Based Foods

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