According to the Brightfield Group, sales of plant-based foods across broad categories have declined.  This finding is consistent with the financial reports posted by Beyond Meat and Maple Leaf Foods.

Brightfield determined that plant-based sausage and fish alternatives fell 17 percent during the second quarter of 2022, chicken alternatives down six percent and various dairy products between three and nine percent.

The price differential between real products and their alternatives is now an important consideration for many consumers who are concerned over balancing their budgets.  Brightfield noted that the most expensive products saw the steepest declines in volume.

A secondary consideration in relation to declining sales is an erosion of the perception that plant-based alternatives are more “healthy” than animal products.  Enthusiasts who have purchased meat alternatives are now scrutinizing labels and noting the list of additives creating concern.

It is probable that initial, rapid growth in sales of plant-based foods was due to a curiosity factor.  There is obviously a solid but small base of affluent consumers who are willing to pay for sustainability, welfare and perceived health attributes.  The size of this demographic is probably inadequate to maintain growth and the declining volume experienced by plant-based food producers will inevitably intensify as margins are reduced to compete with both other plant-based alternatives and real meat and dairy products.