The Retail Rundown: How Do Plant-Based Meat Sales Fare at Retail?
Plant protein has piqued increased interest among consumers in recent years. Within the plant protein arena, plant-based meat ranks second in terms of sales dollars, behind plant-based milk.
Boosted by growing demand among consumers, whether vegan, vegetarian, or flexitarian, plant-based meat sales climbed to $1.4 billion in 2020, according to the Good Food Institute. That was up 45% from 2019 and a record year of growth. However, dollar sales of plant-based meat in 2021 were flat with the year prior at $1.4 billion.
Like conventional meat, the plant-based industry has weathered recent years of pandemic-related challenges including supply chain issues and inflation. A deeper dive into Information Resources, Inc. (IRI) data suggests that plant-based sales at retail could continue to stall following its sharp upward trajectory three years prior...Full Story »