Plant-based foods show double-digit growth, $5 billion in sales
New numbers from the Plant Based Food Association, or PBFA, and The Good Food Institute, or GFI, show plant-based foods are driving tremendous growth across categories.
The organizations said U.S. sales of all plant-based foods jumped 11.4% in the past year, earning a respectable market value of $5 billion. By comparison, the U.S. retail food market sales grew by 2.2%.
Plant-based meats were a driver within the plant-based sector, earning $939 million in sales, up 18%, year over year. Refrigerated plant-based meat is up 63%.
Plant-based milks also stood out, increasing sales by 5% over the past year and now represent 14% of the overall milk category.
Retailers and their private brands have been leaders in the plant-based sector, including Kroger and its Simple Truth Plant Based line spanning more than 50 products, Kroger's Emerge plant-based meats, Aldi, Trader Joe's and more.
To study the market, PBFA and GFI commissioned 52-week total grocery marketplace data from SPINS, a wellness-focused data technology company to prepare.
Read more here from sister publication Progressive Grocer.