Plant-Based Meat Sales Have Increased by 23 Percent in the Last Year

We recently reported that plant-based consumption is up over 300 percent over the last year, according to our Foodable Labs data.

The Good Food Institute (GFI) has also released market data from Nielsen showing that the consumer demand for plant-based products is at an all-time high.

The sales of this sector have recently exceeded $3.7 billion.

"While total U.S. retail food sales grew just two percent over the previous 12 months, retail sales of plant-based foods grew a phenomenal 17 percent during the same time period," writes the GFI.

Specifically, plant-based meat, which has increased in popularity thanks to companies like Impossible Foods and Beyond Burger, saw a 23 percent spike in the last year. In the previous year, veggie-based meats only saw 6 percent growth.

Beyond Meat saw sales spike by 70 percent.

“As consumers look to decrease their meat consumption, more and more people are choosing plant-based meat. In fact, 12 percent of households across the U.S. now purchase plant-based meat,” said Alison Rabschnuk, GFI Director of Corporate Engagement at the GFI. “[This is] a significant increase from last year, and I expect we’ll see that trend continue."

Soy milk

Certain areas of the country, in particular, are seeing an increase in demand for these retail products.

"For instance, refrigerated plant-based meat sales are growing fastest in the Pacific and Mountain regions, while frozen plant-based meat sales are growing fastest in the West South Central region, which includes Texas," writes GFI.

Plant-based meat still only accounts for one percent of total retail meat sales in the U.S. Plant-based milk, on the other hand, accounts for 13 percent of total retail milk sales. Plant-based milk is now a $1.8 billion market.

Read more about the plant-based food market at "The Good Food Institute."

Sales in this sector are expected to climb as more vegan and plant-based products become readily available at retailers.

Learn about the plant-based movement in the video below.