Data from the Plant-Based Foods Association shows sales of plant-based foods in the U.S. have grown 11 percent in the past year.
The report announced last week says the plant-based market is worth $4.5 billion. The total U.S. retail food market has grown just two percent in dollar sales during the same period. The association says the data proves plant-based foods are a key driver of growth for retailers nationwide. Since April 2017, total plant-based food sales have increased 31 percent. Additionally, plant-based foods unit sales are up 8.5 percent. Association spokesperson Julie Emmit calls plant-based foods “a growth engine” for grocery sales.
The leading drivers of plant-based sales continue to be so-called plant-based milks and plant-based dairy such as cheese, yogurt, and ice cream, and plant-based meats. The plant-based meat category is worth more than $800 million, with sales up 10 percent in the past year. The report concludes that plant-based meat now accounts for two percent of retail packaged meat sale.
Source: National Association of Farm Broadcasters