| Make foodmate.com your Homepage | Wap | Archiver
Advanced Top
Search Promotion
Search Promotion
Post New Products
Post New Products
Business Center
Business Center
 
Current Position:Home » News » Marketing & Retail » Topic

US plant-based food retail sales reach $7bn in 2020

Zoom in font  Zoom out font Published: 2021-06-09  Origin: fdiforum
Core Tip: New data from the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) shows US retail sales of plant-based foods continued to increase by double digits in 2020, growing 27% and bringing the total plant-based market value to $7 billion.
New data from the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) shows US retail sales of plant-based foods continued to increase by double digits in 2020, growing 27% and bringing the total plant-based market value to $7 billion.

This growth in dollar sales was consistent across the nation, with more than 25% growth in every US census region.

The plant-based food market grew almost twice as fast as the total US retail food market, which increased 15% in 2020 as COVID-19 shuttered restaurants and consumers stocked up on food amid lockdowns.

57% of households now purchase plant-based foods, up from 53% in 2019. GFI and PBFA commissioned the data from SPINS and custom refined the data to reflect only plant-based products that directly replace animal-based products.

The value of plant-based meat — the second-largest plant-based category — hit $1.4 billion in 2020, with sales growing 45%, up from $962 million in 2019. The plant-based meat category grew twice as fast as conventional meat and now accounts for 2.7% of retail packaged meat sales.

18% of U.S. households now purchase plant-based meat, up from 14% in 2019. Consumers are coming back for more — 63% of shoppers are high-repeat customers. Refrigerated plant-based meat sales grew 75% in 2020, with products increasingly shelved adjacent to conventional meat.

This placement in the meat section helped propel growth in the segment, with refrigerated plant-based meat sales increasing more than twice as fast as frozen plant-based meat sales, which grew 30% in 2020 — 10 times faster than in 2019.

Plant-based milk — the largest plant-based category — has reached $2.5 billion and accounts for 35% of the total plant-based food market. Even as the most developed category, plant-based milk grew 20% in dollar sales, up from 5% in 2019. Plant-based milk grew twice as fast as cow’s milk and is now purchased by 39% of U.S. households.

Almond milk remains the category leader and accounts for about 2/3 of plant-based milk dollar sales. Oat milk catapulted to the second-leading segment, ahead of soy milk, with sales more than tripling in 2020 and growing 25-fold since 2018.

Plant-based product share of all conventional categories is increasing, with plant-based milk now making up 15% of the milk category, plant-based butter making up 7% of the butter category, and plant-based creamer making up 6% of the creamer category.

While plant-based milk boasts a significant share of milk sales in all stores at 15%, it constitutes an even greater share of milk sales in natural food stores at 45%.

The success of plant-based milk has laid the groundwork for major increases in sales of other plant-based dairy products, which are collectively approaching $2 billion. Across the store, plant-based food dollar sales are growing faster than those of many conventional animal products.

In 2020, plant-based yogurt grew 20%, almost seven times the rate of conventional yogurt; plant-based cheese grew 42%, almost twice the rate of conventional cheese; and plant-based eggs grew 168%, almost 10 times the rate of conventional eggs. The plant-based egg category grew more than 700% from 2018, 100 times the rate of conventional eggs.

COVID-19 gave retail sales of plant-based foods an extra boost at a time when interest in the sector was already surging, driven by a focus among consumers on personal health, sustainability, food safety, and animal welfare. These factors will continue to propel consumption of plant-based foods far into the future.

According to Mintel, 35% of U.S. consumers agree with the statement ”the COVID-19/coronavirus pandemic proves that humans need to eat fewer animals.” The market has responded by meeting consumer interests with plant-based claims on-pack rising 116% among US food and drink introductions between 2018 and 2020.

PBFA Senior Director of Retail Partnerships Julie Emmett said: “The data tells us unequivocally that we are experiencing a fundamental shift as an ever-growing number of consumers are choosing foods that taste good and boost their health by incorporating plant-based foods into their diet.

“As this industry surpasses the $7B threshold, PBFA is excited to continue our work to help build a sustainable infrastructure, including domestic ingredients sourcing, for this growing demand to expand access to plant-based foods.”

 
 
keywords: foods plant
 
[ News search ]  [ ]  [ Notify friends ]  [ Print ]  [ Close ]

 
 
0 in all [view all]  Related Comments

 
Hot Graphics
Hot News
Hot Topics
 
 
Processed in 0.088 second(s), 16 queries, Memory 0.86 M
Powered by Global FoodMate
Message Center(0)