US vegan meat sales skyrocketed by 18 percent in 2019 – taking the value of the sector to close to $1 billion ($939 million), according to data released by the Good Food Institute (GFI) and the Plant Based Foods Association.
Plant meat is the second-largest category in the plant-based sector, behind plant-based milk. Category sales grew more than six times faster than conventional meat in the same time period, accounting for two percent of retail packaged meat sales.
Data shows that 14 percent of U.S. households now purchase plant-based meat, with burgers performing especially well, with sales up 123 percent and reaching $283 million in 2019.
The Good Food Institute Associate Director of Corporate Engagement Caroline Bushnell said that plant-based is ‘clearly’ a lasting trend which is ‘gaining power over time’.
She added: “We see a steady rise in plant-based products year over year across regions, which indicates that this is not a bubble or a fad, but a real change in consumer behavior. This is a tipping point, with so much product innovation yet to hit the market.
“Shifting consumer values have created a favorable market for plant-based foods, which have significantly outpaced overall grocery sales increases for three years running, making plant-based foods a growth engine for both manufacturers and retailers.
“This is really only the beginning: plant-based foods will continue to expand rapidly across the store in response to demand as consumers increasingly switch to foods that match their changing values and desire for more sustainable options. We expect further acceleration in 2020.”