Plant-Based Food Sales Reach $5 BillionPlant-Based Food Sales Reach $5 Billion

New data released by the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) shows U.S. retail sales of plant-based foods have grown 11.4% in the past year, bringing the total plant-based market value to $5 billion.

The total U.S. retail food market has grown just 2.2% in dollar sales during this same period, reports San Francisco-based PBFA. Data for the report, which covers the total grocery marketplace, was commissioned by retail analytics provider SPINS.Leading drivers of plant-based sales continue to be plant-based meat, milks, dairy alternatives in general, and plant-based meals.

The total plant-based meat category alone is worth more than $939 million, with sales up 18% in the past year. Refrigerated plant-based meat is driving growth, up a whopping 63%. In comparison, sales in the conventional meat category grew just 3% during the same period. Plant-based meat now accounts for 2% of retail packaged meat sales. 

“Plant-based foods remain a growth engine, up 29% over the last two years,” said PBFA Senior Director of Retail Partnerships Julie Emmett. “Growth is fueled by innovation in categories across the store and retailers are responding by expanding shelf space to satisfy the rapidly expanding consumer base seeking more plant-based foods.”

Sales of plant-based milks grew 5% over the past year, now making up 14% of the entire milk category. Meanwhile, cow’s milk sales are nearly flat. 

“Emerging plant-based dairy categories are growing even faster as more households are introduced to new plant-based dairy items, while sales of many conventional animal-based products stagnate or decline,” according to the PBFA.

In the past year, plant-based yogurt has grown 31%, while conventional yogurt declined 1%; plant-based cheese has grown 18%, while conventional cheese has remained flat at 1% growth. Plant-based creamers alone account for almost $300 million, growing 34%, with its share of total creamers growing from 4% a year ago to 6% in 2019.

“Clearly plant-based is a lasting trend that is gaining power over time,” Caroline Bushnell, associate director of corporate engagement for Washington, D.C.-based GFI, said in a statement. “We see a steady rise in plant-based products year over year across regions, which indicates that this is not a bubble or a fad but a real change in consumer behavior. This is a tipping point, with so much product innovation yet to hit the market.”

Data was obtained over the 52-week period ending December 2019 from the SPINSscan Natural and Specialty Gourmet and SPINSscan Conventional Multi Outlet (powered by IRI) channels.