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Plant-Based Market Overview
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Plant-Based Market Overview
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Plant-based foods are a booming business. In fact, these products are a key driver of growth at grocery retailers nationwide. New SPINS retail sales data released July 16, 2019 shows that grocery sales of plant-based foods that directly replace animal products have grown 31% in the past two years to reach $4.5 billion.
We’ve summarized highlights from the data here—both for the market as a whole and for key plant-based categories—to help you understand the size and growth of the plant-based food industry.
The retail market for plant-based foods is worth almost $4.5 billion.
Dollar sales of plant-based foods grew 11% in the past year and 31% over the past two years.
Plant-based milk is the most developed of all plant-based categories, followed by “other plant-based dairy” and then plant-based meat. The least developed category, but one of the fastest growing, is plant-based eggs.
Across key categories, dollar sales of plant-based foods are growing significantly, while dollar sales of conventional animal foods are declining or growing only modestly.
The data summarized here represents U.S. retail sales of plant-based foods that directly replace animal products, including meat, seafood, eggs, and dairy, as well as meals that contain animal ingredient replacements. This data covers the grocery marketplace and was obtained over the 52-week and 104-week periods ending April 21, 2019, from the SPINSscan Natural, Specialty Gourmet, and Conventional Multi Outlet (powered by IRI) channels.
The plant-based meat category is worth $801 million.
Dollar sales of plant-based meat grew 10% in the past year and 37% over the past two years.
Over 184 million units of plant-based meat were sold in the past year.
Plant-based meat accounts for 2% of all dollar sales for retail packaged meat and approximately 1% of all dollar sales for total retail meat (including random-weight meat).*
Growth in plant-based meat is not just due to increases in distribution—category dollar velocity is also increasing (as measured by dollar sales over total distribution points).
Frozen plant-based meat accounts for 73% of all plant-based meat dollar sales, while refrigerated plant-based meat accounts for 26% and shelf-stable plant-based meat accounts for just 1%.
Dollar sales of refrigerated plant-based meat grew 37% over the past year, much more rapidly than dollar sales of frozen plant-based meat, which grew just 2%. Over the past two years, dollar sales of refrigerated plant-based meat grew 85%, while dollar sales of frozen plant-based meat grew 26%.
The top-selling forms of plant-based meat are burgers, followed by nuggets, strips, and cutlets, and sausage links.
Plant-based seafood accounts for just $9.4 million (1.2%) of total plant-based meat dollar sales.
Of all U.S. households, 11.9% purchase plant-based meat, which equates to approximately 15 million households.
The projected number of household trips to purchase plant-based meat is over 79 million annually.
The data summarized here represents U.S. retail sales of plant-based foods that directly replace animal products, including meat, seafood, eggs, and dairy, as well as meals that contain animal ingredient replacements. This data covers the grocery marketplace and was obtained over the 52-week and 104-week periods ending April 21, 2019, from the SPINSscan Natural, Specialty Gourmet, and Conventional Multi Outlet (powered by IRI) channels.
The purchase dynamics sections contain Nielsen household panel data to provide additional insight. The plant-based meat data was obtained over the 52-week period ending August 11, 2018. The plant-based milk data was obtained over the 52-week period ending October 6, 2018.
* Using guidance that random weight meat accounts for approximately the same total dollar volume as packaged meat, the total retail meat category can be estimated to be worth $74b.
The plant-based milk category is worth $1.86 billion.
Over 566 million units of plant-based milk were sold in the past year.
Plant-based milk accounts for 13% of all dollar sales of retail milk.
Growth in plant-based milk is not being driven solely by increases in distribution. Rather, category dollar velocity is driving the increase, up over 9% from last year (as measured by dollar sales over total distribution points).
Plant-based milk is the most developed of all plant-based food categories and is the one plant-based category that is consistently shelved adjacent to similar animal-based products.
Refrigerated plant-based milk makes up 89% of all plant-based milk dollar sales, while shelf-stable plant-based milk now makes up just 11%.
Almond milk is the category leader with the majority of dollar sales, which continue to increase.
Oat milk is the fastest-growing type of plant-based milk. Dollar sales of oat milk grew 222% in the past year and 284% over the past two years.
Of all U.S. households, 37% purchase plant-based milk, which equates to over 45 million households.
The projected number of household trips to purchase plant-based milk is 335 million annually.
Households that purchase plant-based milk exhibit high cross-purchase behavior across all other categories of plant-based alternatives.
The data summarized here represents U.S. retail sales of plant-based foods that directly replace animal products, including meat, seafood, eggs, and dairy, as well as meals that contain animal ingredient replacements. This data covers the grocery marketplace and was obtained over the 52-week and 104-week periods ending April 21, 2019, from the SPINSscan Natural, Specialty Gourmet, and Conventional Multi Outlet (powered by IRI) channels.
The purchase dynamics sections contain Nielsen household panel data to provide additional insight. The plant-based meat data was obtained over the 52-week period ending August 11, 2018. The plant-based milk data was obtained over the 52-week period ending October 6, 2018.
Emerging plant-based dairy categories have experienced some of the greatest dollar sales growth.
Together, these other plant-based dairy categories are worth $1.2 billion.
Combined dollar sales of these other plant-based dairy categories grew 26% in the past year and 73% in the past two years.
The plant-based ice cream and frozen novelty category is worth $304 million.
Dollar sales of plant-based ice cream and frozen novelty grew 26% in the past year and 67% over the past two years.
The plant-based yogurt category is worth $230 million.
Dollar sales of plant-based yogurt grew 39% in the past year and 129% over the past two years.
The plant-based butter category is worth $189 million.
Dollar sales of plant-based butter grew 5% in the past year and 9% over the past two years.
The plant-based cheese category is worth $160 million.
Dollar sales of plant-based cheese grew 19% in the past year and 69% over the past two years.
The plant-based creamer category is worth $226 million.
Dollar sales of plant-based creamer grew 40% in the past year and 193% over the past two years.
The plant-based ready-to-drink beverages category is worth $103 million.
Dollar sales of plant-based ready-to-drink beverages grew 23% in the past year and 38% over the past two years.
The plant-based dairy spreads, dips, sour cream, and sauces category is worth $21 million.
Dollar sales of plant-based dairy spreads, dips, sour cream, and sauces grew 52% in the past year and 146% over the past two years.
The data summarized here represents U.S. retail sales of plant-based foods that directly replace animal products, including meat, seafood, eggs, and dairy, as well as meals that contain animal ingredient replacements. This data covers the grocery marketplace and was obtained over the 52-week and 104-week periods ending April 21, 2019, from the SPINSscan Natural, Specialty Gourmet, and Conventional Multi Outlet (powered by IRI) channels.
The plant-based meal category, comprising frozen and shelf-stable meals, is worth $387 million.
Dollar sales of plant-based meals grew 6% in the past year and 22% over the past two years.
The category of refrigerated plant-based meals containing direct replacements of animal ingredients is underdeveloped and not included here. It is a clear market white space.
The plant-based egg category is worth $6.5 million.
Dollar sales of plant-based eggs grew 38% in the past year and 105% over the past two years.
The plant-based condiments, dressing, and mayo category is worth $70 million.
Dollar sales of plant-based condiments, dressing, and mayo grew 7% in the past year and 29% over the past two years.
The tofu and tempeh category is worth $118 million.
Dollar sales of tofu and tempeh grew 5% in the past year and 17% over the past two years.
The data summarized here represents U.S. retail sales of plant-based foods that directly replace animal products, including meat, seafood, eggs, and dairy, as well as meals that contain animal ingredient replacements. This data covers the grocery marketplace and was obtained over the 52-week and 104-week periods ending April 21, 2019, from the SPINSscan Natural, Specialty Gourmet, and Conventional Multi Outlet (powered by IRI) channels.
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