‘Resilient’ Plant-Based Food Industry Hits $8M in Dollar Sales
According to the “The Plant Based Foods State of the Marketplace” report from the Plant Based Foods Association (PBFA), plant-based food dollar sales grew 6.6% in 2022 to $8 billion, with unit sales reflecting the 3% decline also seen in total food and beverage and animal-based foods. The San Francisco-based organization noted that this result shows “the strong resilience of plant-based foods during intense inflationary conditions.”
“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,” said Julie Emmett, PBFA’s VP of marketplace development. “PBFA is dedicated to working with retailers, foodservice providers and brands to optimize their engagement with plant-based consumers and help shift food environments in favor of plant-based. 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.”
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The report’s additional top-level insights include:
- 60% of total U.S. households are buying plant-based foods, and an impressive 80% of households are repeating those purchases, showing their loyalty to and satisfaction with plant-based foods.
- While all animal-based categories decreased in units, plant-based categories saw considerable unit growth in the following five categories: plant-based creamers, eggs, protein powders, ready-to-drink beverages, and dips and spreads. The variety of standout categories is indicative of rising consumer interest in plant-based options for every eating occasion, according to PBFA.
- Engaged consumers drove consistent demand for plant-based options in foodservice settings, with 48% of U.S. restaurants now featuring plant-based foods on their menus, a percentage that has risen steadily, without decline, over the past decade.
“The plant-based foods industry has proven its resilience, weathering unprecedented challenges to maintain cross-category market shares and achieve $8 billion in U.S. retail sales,” observed PBFA CEO Rachel Dreskin.” This success is a testament to the dedication of consumers who are looking for plant-based options for every eating occasion, and the innovative brands and marketplace partners who are working to meet growing demand for sustainable, healthy and delicious options.”
“The Plant Based Foods State of the Marketplace” report covers 2022 plant-based foods retail and e-commerce sales, emerging foodservice trends and plant-based consumer insights.
