In accordance 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 whole {dollars} in comparison with the earlier yr. GFI additionally says that whole U.S. retail gross sales for plant-based meat – nonetheless the largest general class – remained flat at $1.4 billion final yr.
The GFI report detailed whole U.S. gross sales of plant-based meat, together with meals service, retail gross sales, and e-commerce. In accordance with the report, whole 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 whole plant-based meat income was up yr over yr, GFI’s report says that whole kilos of U.S. plant-based meat bought dipped barely from 349 million to 336 million in 2022, a dip of 4%.
In case you’re curious how whole income went up whereas kilos shipped went down, that’s on account of value will increase for plant-based meat introduced on by inflation. In accordance 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% improve in costs for animal-based meat merchandise. Animal meat product value will increase have been according to the estimated improve in meals service pricing, which was an estimated 8% in 2022. In accordance with GFI, general plant-based meat value 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 have been bought within the meals service class. In accordance with the report, 39% of other meat was bought by quick-service eating places (i.e. quick meals), whereas full-service eating places accounted for 19%. Schooling 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.
