2024 Plant-Based Foods State of the Marketplace Report [May 2025] - Paid

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The Plant Based Foods Association's new 2024 State of the Marketplace Report provides data-driven insights into the evolving plant-based food landscape–illustrating how much the industry has changed in the past few years alone. The report outlines key consumer insights, strategies for marketplace partners, and highlights the health and environmental benefits of plant-based foods, which align with growing consumer interest in sustainability. It also incorporates insights from top marketplace leaders from Walmart, KeHe, and Sodexo speaking to how they are incorporating plant-based foods into their business. Your purchase also includes a separate PDF file of all charts featured in the report.

Key findings from the report illustrating the industry's evolution and areas of growth include:

1. Strong consumer engagement, with 59% household penetration and a 79% repeat purchase rate in grocery retail. Health is cited as the primary motivation for purchase.
2. The report highlights that consumer feedback has driven innovation, leading to improved taste perception (up from 23% to 36% compared to prior year) and a trend towards diverse ingredients and plant-forward products.
3. Despite a challenging economic environment, including inflation and supply chain disruptions, the sector maintained a value of approximately $8.1 billion in U.S. retail sales for the past three years, while total grocery food sales remained flat in unit sales and grew only 2.3% in dollars.
4. Several retail categories experienced growth in 2024, such as plant-based protein powders and liquids (up 11% in dollars, 13% in units to $450M), baked goods (up 13% in both dollars and units to $111M), and tofu and tempeh (up 7% in dollars, 6% in units to $221M).
5. The industry is expanding its presence in foodservice sectors, particularly in business and industry, education, healthcare, and government operations, with operators increasing investment in categories like plant-based milk and tofu.

More of What's Inside: Preview the report here

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