In keeping with a new report from the Good Meals Institute (GFI) inspecting plant-based meat gross sales within the U.S. meals service sector, gross sales of meat derived from crops bought to eating places and different meals service establishments hit $730 million in 2022, up 7.8% and $53 million in complete {dollars} in comparison with the earlier yr. GFI additionally says that complete U.S. retail gross sales for plant-based meat – nonetheless the largest total class – remained flat at $1.4 billion final yr.
The GFI report detailed complete U.S. gross sales of plant-based meat, together with meals service, retail gross sales, and e-commerce. In keeping with the report, complete plant-based meat gross sales income grew barely from $2.1 billion in 2021 to $2.2 billion in 2022, amounting to a rise of two%. Nonetheless, whereas complete plant-based meat income was up yr over yr, GFI’s report says that complete kilos of U.S. plant-based meat bought dipped barely from 349 million to 336 million in 2022, a dip of 4%.
If you happen to’re curious how complete income went up whereas kilos shipped went down, that’s as a consequence of worth will increase for plant-based meat introduced on by inflation. In keeping with GFI, wholesale costs for plant-based meat in broadline distribution elevated by 4% in 2022 over the earlier yr, half that of the 8% enhance in costs for animal-based meat merchandise. Animal meat product worth will increase had been in step with the estimated enhance in meals service pricing, which was an estimated 8% in 2022. In keeping with GFI, total plant-based meat worth per pound has decreased by 11% since 2019, which they attribute to elevated scale and extra favorable sourcing agreements with distributors.
GFI additionally broke down the place plant-based meats had been bought within the meals service class. In keeping with the report, 39% of other meat was bought via quick-service eating places (i.e. quick meals), whereas full-service eating places accounted for 19%. Training got here in a distant third, accounting for 16% of plant-based meat gross sales within the meals service class for 2022.
You’ll be able to learn the complete GFI report right here.
