Plant-based meat sales stall while eggs, yogurt, and cheese gain ground, GFI, SPINS, PBFA

US retail sales of plant-based foods grew 6.2% to $7.4bn in 2021 vs. 2020, lapping a record-period of sales growth in 2020 vs. 2019 when sales of plant-based foods skyrocketed by 27% to $7bn​​.

The data showed that plant-based foods are growing three times faster than total food retail sales with most plant-based food categories outpacing their conventional counterparts. And despite a noticeable slowdown in retail sales, the plant-based foods sector is well-positioned for further growth, claimed GFI, PBFA, and SPINS.

“Just when retailers were getting ahead of challenges from the pandemic and supply chain issues, record inflation is causing them to look at alternatives to help consumers manage their shopping and wellness journeys,”SPINS chief commercial officer Jay Lovelace said.

“SPINS data shows that plant-based products appear to be managing the economic issues in the US better than many traditional retail products. This is a trend we expect to continue throughout this year and encourage retailers to look to expand shelf space for all plant-based products. based products.”

“The sustained rise in the market share of plant-based foods is remarkable, and makes it clear that this shift is here to stay,” Said PBFA senior director of retail partnerships, Julie Emmett.

“The data shows that, despite the challenges of the past two years, retailers and foodservice providers are meeting consumers where they are by partnering with brands across the entire store to expand space, increase assortment, and make it easier than ever to find and purchase plant-based foods.”

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