Plant-based food tops $5 billion in retail sales as consumer demand for ‘sustainable’ products booms

| March 10, 2020
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New data released by The Good Food Institute (GFI) and the Plant Based Foods Association shows U.S. retail sales of plant-based foods continued to increase by double digits in 2019, growing 11 percent and bringing the total plant-based market value to $5 billion. Dollar sales for the total U.S. retail food market grew just 2 percent during this same period, showing that plant-based remains a key driver of growth for retailers nationwide.

The success of plant-based milk — now purchased by 41 percent of U.S. households …. has laid the groundwork for major increases in other plant-based dairy categories ….  In 2019, plant-based yogurt grew 31 percent, while conventional yogurt declined 1 percent; plant-based cheese grew 18 percent, while conventional cheese grew 1 percent; and plant-based eggs grew 192 percent, while conventional eggs declined 10 percent.

Related article:  Plant-based beef ingredients from China may hurt Impossible Foods, Beyond Meat sales

“Shifting consumer values have created a favorable market for plant-based foods, which have significantly outpaced overall grocery sales increases for three years running, making plant-based foods a growth engine for both manufacturers and retailers. This is really only the beginning: plant-based foods will continue to expand rapidly across the store in response to demand as consumers increasingly switch to foods that match their changing values and desire for more sustainable options. We expect further acceleration in 2020.”

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