US Plant-Based Food Sales Accelerated Twice as Fast as Animal Meat Sales During Pandemic
A report from The Plant-Based Foods Association (PBFA) and SPINS provides data for the US which evidences the strength of the plant-based food market. An example summarized is that since the initial spikes caused by panic buying, plant-based meat sales have maintained continued growth whilst animal meat sales continue to decline.
Plant-based meat retail sales were up 148% more than last year, spiking at 50% over the peak panic buying of animal-based meat. Over the four weeks following, plant-based meat sales continued to grow at a rate of 61%, over twice as fast as animal-based meat, during the same period.
The data shows that retail sales for plant-based products in the US has outpaced the total foods sales during the pandemic, this data goes beyond the time of the initial panic buying stage that was witnessed across the US and therefore indicates the staying power of these figures.