Plant-Based Food Sales in US Reached $8 Billion in 2022, as 70% of Americans Now Consume Plant-Based Foods

EAT

Apr 14

The market for animal-free foods continues to grow and “consumer demand is strong”, says a new food industry report on retail sales and trends.

Insights from a new retail report have revealed that the plant-based food market in the U.S. grew 6.6 percent in 2022 to reach a record $8 billion in overall sales.

The growing sales figures reflect the wider mainstream acceptance of plant-based food, with consumer research finding that a staggering 70 percent of the total U.S. population is now consuming plant-based foods, up from 66 percent one year ago.

The positive trend is said to span all generations and socioeconomic backgrounds, with motivations ranging from health to the environment to animal welfare. More and more consumers are adding plant-based foods into their shopping baskets, and are often taking a flexitarian approach - which refers to a diet that occasionally swaps meat and animal products out with plant-based foods instead.

Mainstream acceptance of plant-based foods is perhaps best seen in the adoption of plant-based milks, which the report describes as a new “household staple”. Analysis of the sales data shows that 15 percent of all milk sold in the U.S. is now plant-based. Plant-based milks include the likes of almond and coconut, which are popular in shakes and cereals, and oat, which has become increasingly popular in hot drinks.

Sales of plant-based meat meanwhile held steady in 2022, decreasing slightly by 1.2 percent from 2021. This follows the category’s record 46 percent sales growth in 2020.

Several other emerging plant-based categories saw huge growth in 2022, including plant-based eggs. Animal-based eggs have seen price increases due to the impact of Avian flu on the industry, which has led to increased interest in animal-free egg alternatives.

Plant-based eggs have also seen wider availability in recent years, with leading products like JUST Egg for sale in grocery stores as well as on the menu at national chains including Peet’s Coffee and Caffè Nero.

This has all helped lead to a consistent year-on-year growth for plant-based egg sales.

“The plant-based foods industry’s momentum and resilience - built on robust consumer demand - is evident across 2022 retail and e-commerce sales, and foodservice performance,” says Julie Emmett, PBFA’s Vice President. “We know consumer interest is strong, now it’s a matter of continuing to increase access and awareness for existing and future innovative plant-based options and furthering the exciting potential of this industry.”

The market report was compiled by the Good Food Institute (GFI) and the Plant Based Foods Association (PBFA), and based on retail sales data commissioned from SPINS. For more insights into the industry, read the full report here.

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