NCP In The News: U.S. Plant-Based Food Retail Sales Jumped 27% In 2020

(originally posted on supermarketnews.com)

 

Pandemic helped propel growth, research from Plant Based Foods Association and Good Food Institute says.

 

The growth rate for the U.S. plant-based food market more than doubled in 2020, as sales surged 27% to $7 billion, according to the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI).

 

Plant-based food sales rose nearly twice as much as overall U.S. retail food sales, which climbed 15% in 2020 as COVID-19 lockdowns nationwide forced temporary closures of restaurants and spurred consumers to stock up on groceries, PBFA and GFI said Tuesday. What’s more, dollar sales growth for plant-based foods proved to be consistent across the country, with the market posting gains of over 25% in all U.S. census regions.

 

In 2019, U.S. plant-based food sales reached the $5 billion mark with year-over-year growth of 11.4%, compared with 2.2% growth for total U.S. retail food sales. The gain was a bit higher than in 2018, when sales of plant-based foods rose 11% to $4.5 billion versus 2% growth for the overall food retail market.

 

Last year, 57% of households bought plant-based foods, up from 53% in 2019.

 

Read the full article…

 

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