It has been another strong year for plant-based alternatives to meat, seafood and dairy products, with sales up more than 11 percent year-over-year. According to a report commissioned by the Good Food Institute and the Plant Based Foods Association, sales of plant-based products totaled nearly $4.5 billion between April 2018 and April 2019. The increase in sales is even greater looking back two years. Plant-based food sales have grown 31 percent since April 2017.
Dairy alternatives have remained the most popular plant-based product over the last year, accounting for more than two-thirds of the entire plant-based market and 13 percent of the entire fluid milk category. A major contributing factor to the sales growth is the decision of many grocery outlets to include non-dairy milk alternatives in the traditional dairy sections of stores. The retail sales of plant-based meat alternatives also showed substantial growth, with sales up nearly ten percent from the year prior.
Listen to the report below.