A report from The Plant-Based Foods Association (PBFA) and SPINS provides data for the US which evidences the strength of the plant-based food market. An example summarised is that since the initial spikes caused by panic buying, plant-based meat sales have maintained continued growth whilst animal meat sales continue to decline.
Plant-based meat retail sales were up 148% more than last year, spiking at 50% over the peak panic buying of animal-based meat. Over the four weeks following, plant-based meat sales continued to grow at a rate of 61%, over twice as fast as animal-based meat, during the same period.
The data shows that retail sales for plant-based products in the US has outpaced the total foods sales during the pandemic, this data goes beyond the time of the initial panic buying stage that was witnessed across the US and therefore indicates the staying power of these figures.
Julie Emmett, senior director of retail partnerships at the Plant-Based Foods Association commented on the findings: “This new data shows that consumers are turning to plant-based food options now more than ever. Even after the highest panic-buying period, plant-based foods growth remains strong, proving that this industry has staying power.”
Tony Olson, owner and CEO of SPINS further commented: “Since the beginning of the pandemic, there has been a continued shift in consumer purchasing toward natural and organic products that enhance health and immunity. Our data shows the plant-based meat boom of last year continues and as reports of animal-based meat shortages increase, we can expect plant-based meat to gain even more traction.”