Plant-Based Fatigue

The US plant-based food market has grown from USD 3.9 billion in 2017 to USD 8.1 billion in 2023, according to SPINS data. However, despite the long-term progress, 2023 was a tough year across all plant-based food categories. Unit sales of plant-based meat and seafood were down 19% year on year, down 8% for milk, and down 13% for other dairy products and eggs. According to a survey published by the Good Food Institute, the primary consumer concerns over plant-based food products relate to taste, texture, price, and excessive processing (plant-based food is often labelled as highly processed). Pricing is particularly problematic, as plant-based products are often sold at a more than 150% premium to animal-based equivalents.

Source: The Good Food institute, January 2024.   

Note: Meat data per pound, milk per gallon and eggs per dozen