Pulse Forward 14 | USA's big bet on beans

FOOD FORWARD

9%. Plant-based unit sales fell 9% YoY, corresponding to a 2% fall in dollar sales. In fact, plant-based food price increases coincided with elevated inflation, and market dynamics indicated that, despite all stereotypes, U.S. consumers cut back on food spending in general; yet plant- based experienced the biggest declines. Creamers, protein powders and liquids, baked goods and other desserts were the only plant-based categories that grew both in dollars and unit sales in 2023. • 5%. Food-at-home prices were 5% higher YoY in 2023, twice the 20-year historical average. Plant-based food prices increased 8%; animal meat and seafood prices increased 3%. Add the fact that plant-based categories often sit at two times (milk and meat) to four times (eggs) the price of their

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