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Plant-based food worth $7B in 2020, posting 27% growth

Dive Brief:
Plant-based food retail sales were worth $7 billion in 2020, posting a 27% growth rate overall for products that specifically replace animal-derived options, according to SPINS data released by the Good Food Institute and the Plant Based Foods Association (PBFA). A total of 57% of U.S. households purchased plant-based food in 2020, up from 53% in 2019.

Plant-based meat had $1.4 billion in sales, growing 45% overall compared to 2019 and making up 2.7% of all U.S. retail packaged meat sales. Refrigerated plant-based meat sales saw the highest growth percentage, up 75% in 2020.

The coronavirus pandemic brought on a boom in plant-based sales in 2020, as consumers looked for products they thought were better for them — or discovered the brands on store shelves as many conventional meat producers faced production challenges.

https://www.fooddive.com/news/plant-based-food-worth-7b-in-2020-posting-27-growth/597865/