2023 Plant-Based Foods State of the Marketplace Report [May 2024]

The Plant Based Foods Association’s latest Plant-Based Foods State of the Marketplace report represents the most comprehensive analysis of the plant-based foods industry, designed to illuminate stakeholders across the marketplace on the most up-to-date retail and e-commerce sales data, emerging foodservice trends, and consumer insights. The report also features the critical perspectives of leading industry decision-makers from Sodexo, Whole Foods Market, and Earth Fare about their strategies to expand their plant-based foods offerings.

MEMBER BENEFIT: Download a PDF and PowerPoint file with the charts from this report to use in your presentations here.

Key takeaways from the report illustrate what can happen in channels where barriers are removed and plant-based options are expanded:

1. Boosting foodservice sales: 41% choose plant-based menu items when dining out weekly, and 88% maintained or increased their consumption over the past three months.

2. E-commerce boom: E-commerce sales of plant-based foods reached $394 million in 2023, with a 16.4% annual growth rate over three years, and a 6.8% online market share, surpassing the 3.8% in retail – and outpacing animal-based food sales online.

3. Plant-based is here to stay: Retail sales of plant-based foods reached $8.1 billion in 2023. A notable 62% of U.S. households buy plant-based products, with 81% returning for more. When plant-based foods are easy for consumers to find with ample space and signage, both units and dollar sales outpace all other plant-based categories.

More of What's Inside: Preview the report here