2023 State of the Marketplace: 8 Takeaways for Plant-Based Brands from PBFA’s Latest Report

The 2023 State of the Marketplace report by the Plant-Based Foods Association highlights the resilience and potential of the plant-based food sector despite recent challenges. The report emphasizes that health is a key driver for plant-based food purchases, with consumers choosing these products for various health-related reasons. While only four product categories saw a decline in sales, plant-based milk remains the leading category in the sector, representing a significant portion of overall sales.

Additionally, the report points out the rapid growth of non-dairy creamers and the increasing popularity of plant-based options in e-commerce sales. While restaurants showed a decline in plant-based food sales, other operators like workplace cafeterias, education, healthcare, and government establishments increased their spending on plant-based proteins. Overall, the report suggests that with the right strategies in place, plant-based brands have a strong foundation for growth and success in the marketplace.