Circana, a market research company, announced that sales of plant-based alternatives to meat attained $72.3 million at retail in November. This was a decrease of 4.7 percent compared to the corresponding month in 2023. Unit sales were down 7.6 percent.
To place plant-based alternatives in perspective, the average monthly revenue for the category in 2023 was $4.5 million. The average total for broilers, turkeys and red meat was $19 billion per month. Based on the monthly figures assembled by Circana, plant-based meat sales represent approximately 0.3 percent of red meat and poultry combined and with a downward trend. To the private and corporate investors in plant based and cell-cultured alternatives to real meat the lesson from the trend in sales is clearly caveat donor.
