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In 2020, the sales of vegetable meat in the United States will reach 1.4 billion US dollars From GFI

The following is the In 2020, the sales of vegetable meat in the United States will reach 1.4 billion US dollars From GFI recommended by And this article belongs to the classification: Consumer research.

Retail sales of vegetable food reached 7 billion US dollars

According to the data, the total retail sales of vegetable food will reach 7 billion US dollars in 2020, an increase of 27% in the past year, almost double the growth rate of the total retail sales of American food. From 2018 to 2020, sales of plant-based foods increased by 43%, while total retail sales of U.S. foods increased by only 17% over the same period.

In 2020, the sales of vegetable meat will reach 1.4 billion US dollars

Vegetable meat will break through the 100 million yuan mark in 2020, and the sales volume will reach 1.4 billion US dollars at the end of the year. As in the past few years, this growth is mainly driven by refrigerated vegetable meat, which accounts for an increasing share of vegetable meat.

Vegetable milk, eggs and dairy products continued to grow strongly

Vegetable milk has maintained its position as the largest vegetable food category, with sales increasing by 20% to US $2.5 billion in the past year.

Other plant-based dairy products, such as plant-based ice cream and plant-based yogurt, will grow by 20% during 2020, with sales reaching US $433 million and US $433 million respectively. Other dairy products with faster growth included vegetable butter and vegetable cheese, which increased by 36% and 42% respectively. The relatively small share of vegetable eggs grew 168% last year and 706% in the past two years.

Young, educated and high-income consumers drive the growth of vegetable food

The penetration rate of all plant-based foods in American households has increased by 3.4 percentage points, reaching 56.8% in 2020, equivalent to nearly 73 million American households. The household penetration rate of plant-based meat has also increased by 3.4 percentage points to 17.6%, which is equivalent to nearly 23 million households purchasing plant-based meat in 2020, an increase of 24% over 2019.

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