Plant-based foods' market value rises to $5B, report says

Average dollar sales in the United States of plant-based foods altogether jumped 11% in 2019 to reflect a 29% growth within just two years. In comparison, total retail food dollar sales in the United States grew by a mere 2% in 2019 and just 4% over the same two-year period.

Annual plant-based food retail in the United States is now topping a US$5 billion in total, which reflects a strong 18.4% growth on a year-on-year basis.

Non-milk plant-based dairy sector is now worth US$1.4 billion.

The non-dairy milk category is worth a total of US$2 billion, which accounts for 40% of the total plant-based food market in the United States.

Driven by growing environmental awareness, ethical concerns and health reasons, consumers are choosing plant-based more than ever before – and this shift in appetite is quickly reflecting on industry market data.

In 2019, vegan milk took up 14% of all dollar sales for retailed milk in the United States, which equates to more than 620 million units sold in just one year. Across the United States, plant-based milk is now purchased by 41% of households.

(The plant based egg category has seen) incredible growth in the United States, jumping 228% in two years and 192% in 2019 alone.