New data shows plant-based meat, eggs, and dairy continue to outpace conventional animal products
New data released by The Good Food Institute (GFI) and the Plant Based Foods Association shows US retail sales of plant-based foods continued to increase by double digits in 2019, growing 11% and bringing the total plant-based market value to $5 billion. Dollar sales for the total US retail food market grew just 2% during this same period, showing that plant-based remains a key driver of growth for retailers nationwide. Commissioned from SPINS, a market research firm, this data covers measured channels within the total grocery marketplace.
The value of plant-based meat — the second-largest category — is approaching $1 billion, with sales growth of 18% in 2019. The plant-based meat category is now worth $939 million, having grown over six times faster than conventional meat and accounting for 2% of retail packaged meat sales. According to IRI, 14% of US households now purchase plant-based meat. The refrigerated segment accounts for most of the growth in the plant-based meat category, with new plant-based meat products increasingly shelved adjacent to conventional meat. This placement helped propel the refrigerated segment’s growth of 63% last year by introducing the category to more consumers shopping for center-of-plate protein options. Growth of refrigerated plant-based burgers has been especially robust, with sales up 123% and reaching $283 million in 2019.