Plant-Based Sales Grow to $7 Billion

6 Apr 2021

Plant-based food retail sales grew 27 percent to $7 billion in 2020, according to new data from the Plant Based Foods Association and The Good Food Institute. This is almost twice as fast as the total U.S. retail food market, which increased 15 percent. In addition, 57 percent of households now purchase plant-based foods, up from 53 percent in 2019.

Plant-based meat, the second largest plant-based category, grew 45 percent to $1.4 billion in 2020 and now accounts for 2.7 percent of retail packaged meat sales. Sixty-three percent of consumers are high-repeat customers for plant-based meat.

The largest plant-based category, plant-based milk, reached $2.5 billion and accounts for 35 percent of the total plant-based market. Plant-based milk grew 20 percent in dollar sales, up from 5 percent in 2019 and is now purchased by 39 percent of U.S. households.

Sales also grew for other plant-based categories like yogurt (up 20 percent), cheese (up 42 percent), eggs (up 168 percent).

“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,” PBFA senior director of retail partnerships Julie Emmett said in a statement. “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.”

“2020 was a breakout year for plant-based foods across the store,” said GFI research analyst Kyle Gaan, in a statement. “The incredible growth we saw in plant-based foods overall, particularly plant-based meat, surpassed our expectations and is a clear sign of where consumer appetites are heading.”

Related: Alternative Protein Market to Reach $290 BillionConvenience, Comfort, Plant-Forward Drive Specialty Frozen Food Sales.