USA – Sales of plant-based foods in the US retail market are experiencing a downturn in both value and volume, with notable declines in meat and seafood alternatives, according to new data.

The Good Food Institute’s (GFI) latest State of the Industry report reveals that plant-based food sales dropped by 2% in dollar terms, reaching US$8.1 billion in 2023.

Sales volumes also decreased by 9%, totaling 1.8 billion units.

Specifically, the dollar sales of plant-based meat and seafood alternatives have fallen by 12% compared to 2022, and by 13% since 2021, amounting to US$1.2 billion in 2023.

The volume of unit sales in this category saw a 19% decline from 2022 and a 26% decrease from 2021, totaling 215 million units.

The report also highlights a negative or stagnant trend in household penetration rates for 2023.

Plant-based meat and seafood alternatives saw a four percentage point drop to 15%, indicating a pressing need to re engage consumers.

In addition to these trends, plant-based meals are also facing significant declines in US retail – Dollar sales in this segment fell by 14% compared to 2022, reaching $498 million, and by 15% compared to 2021.

Unit sales dropped by 22% from 2022 and 28% from the previous year, amounting to 96 million units.

Milk alternatives stand out as the top-performing category among plant-based foods.

Dollar sales in this segment increased by 1% from 2022 and by 9% from 2021.

However, unit sales fell by 8% year-on-year and by 10% compared to 2021.

When examining repeat purchase rates for 2023, plant-based milks show the highest retention, with 79% of consumers making repeat purchases.

Nearly half of US households purchased plant-based milks at least once during the year. 

Following closely are plant-based creamers, with a 65% repeat purchase rate, and meat and seafood alternatives, with a 62% repeat rate.

Conversely, plant-based eggs and cheeses exhibit the lowest repeat purchase rates, at 48% and 49%, respectively.

Despite these recent declines, the GFI notes that retail sales of plant-based foods have grown by 51% in the US since 2017, when the think tank first began monitoring the segment.

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