Plant-based meat sales expected to surpass $1 billion in 2020
Dollar sales of plant-based foods grew 29 percent over the past two years, compared to just 4 percent growth for total U.S. retail food dollar sales over the same time period.
The Good Food Institute and the Plant Based Foods Association (PBFA) commissioned this data from leading market research firm SPINS. The data summarized in our analysis represents U.S. retail sales of plant-based foods that directly replace animal products, including meat, seafood, eggs, and dairy, as well as meals that contain meat, seafood, eggs, and dairy replacements. This data covers the grocery marketplace and was obtained over the 52-week and 104-week periods ending December 29, 2019, from the SPINSscan Natural, Specialty Gourmet, and Conventional Multi Outlet (powered by IRI) channels.
The main takeaway? Plant-based food is a massive growth opportunity for retailers.