Giving Compass' Take:
- Plant-Based Foods Association and The Good Food Institute compile a report every year on the status of plant-based meat and protein alternatives in the U.S.
- Understanding plant-based meat sales during the pandemic can help understand trends in consumer behavior. How can donors help spread awareness about this reporting?
- Read why plant-based foods are more than a fad.
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It can be hard to keep up with the plant-based food industry. Every month seems to bring buzzy product launches and press releases from startups about the millions of dollars they’ve raised from investors. At the same time, big-name traditional food companies continue to launch their own lines of dairy- and meat-free foods at a rapid clip.
Each year the Plant Based Foods Association and the Good Food Institute — the two main groups that advocate for meat and dairy alternatives — publish a state of the industry of sorts, analyzing how these products actually perform in grocery stores. It’s a useful zoom-out that helps put the blitz of plant-based food development into perspective.
Their latest report looked at 2020 sales figures and found that — as with the previous year — plant-based food retail sales grew much faster (27 percent) than the total US retail food market (15 percent). And this wasn’t just on the coasts; there was more than 25 percent growth in all US census regions.
Plant-based meat sales grew by 45 percent and plant-based milk sales were up 20 percent from 2019.
The growth may be eye-popping, but there’s a big caveat here: Supermarkets had an unusually good year. Early in the pandemic, panic-buying sent grocery sales surging, and earnings remained high throughout 2020 as people cooked at home more to avoid crowds and save money, giving the sales of both plant-based and animal-based foods a big bump.
Another important caveat: The plant-based food category is starting from a very low baseline. A 45 percent increase in plant-based meat sales over one year is a big deal, but it can be brought back down to earth by a grim, stubborn fact: More than 99 percent of the meat we eat in the US still comes from animals.
Read the full article about plant-based meat by Kenny Torrella at Vox.