New data released by the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) shows that retail sales of plant-based foods in the US have grown 11.4% in the past year, with the total plant-based market now valued at $5 billion. Plant meat in the chiller section has seen a huge rise of 63%.
Plant milks continue to drive growth
The leading drivers of plant-based sales continue to be plant-based milks, meat, dairy alternatives in general, and plant-based meals. Sales of plant-based milks grew 5% over the past year and now make up for 14% of the entire milk category. Sales of traditional milk are said to be stagnent.
The study shows that the total plant-based meat category alone is worth more than $939 million, with sales up 18% in the past year. Refrigerated plant-based meat is driving growth, up 63%. Meanwhile, sales of animal meat cagrew just 3 percent during the same period. Plant-based meat now accounts for 2% of retail packaged meat sales.
Yogurt, cheese, dairy alternatives
In the past year, the vegan yogurt segment has increased by 31% while conventional yogurt declined 1 percent; plant-based cheese has increased by 18%, while conventional cheese has remained flat at 1 percent growth. Plant-based creamers alone account for almost $300 million, growing 34% to 5% of the market share.
Growth by category
“Plant-based foods remain a growth engine, up 29 percent over the last two years,” said PBFA Senior Director of Retail Partnerships Julie Emmett. “Growth is fueled by innovation in categories across the store and retailers are responding by expanding shelf space to satisfy the rapidly expanding consumer base seeking more plant-based foods.”