Manufacturers need to take steps to ensure that their plant-based and farm-raised products are discoverable with the right attributes. Plant-based seafood remains a small fraction of the overall plant-based meat and seafood category, though, accounting for less than 1% of dollar sales. The Good Foods Institute reports that plant-based seafood dollar sales grew 23% to $12 million in 2020. Plant-based seafood products have garnered less attention, but command a niche with interesting potential. The “sugar-free” attribute is also trending with consumers across plant-based milks, up 23%, driven by searches for “no sugar soy milk,” “sugar free coffee creamer,” and “oat milk zero sugar.” Top search terms include variations of “oatmilk” and “oat milk,” including “unsweetened oat milk,” “creamy oatmilk,” and “vanilla oatmilk.” Brand-specific searches for Oatly accounted for nearly 13,000 monthly searches. Searches for oat milk were up 15% (by over 50,000 monthly searches) in July. Oat milk continues to be the rising star in the plant-based milk category. Plant-based cheese sales grew at a rate of 65% over the last two years-over 4 times faster than dairy cheese-led by vegan brands Daiya and Violife. Today, plant-based alternative milk accounts for 15.5% of all dollar sales for retail milk. Nut, soy, and oat milks have already heavily penetrated, led by brands like Silk and Blue Diamond. Plant-based dairy products have a longer history in health and specialty stores, but have now migrated to the mainstream with far more dedicated space in both refrigerated and frozen cases. Supermarkets have followed suit, introducing private label versions, often at lower price points. In the latest 52 weeks ending July 3, 2021, there was a 43% increase in households buying meat alternatives.įrozen veggie-bean burgers have established brands like Boca and Gardenburger, but newer entrants such as Beyond Meat and Impossible Burger have commanded the spotlight in the fresh meat case. Plant-based alternative meat products have dominated consumer news and claimed space in the retail meat department, where the products are often displayed alongside ground beef and sausage. Plant-based proteins are a subset that encompasses meat, dairy, and seafood alternatives. Their collective actions indicate a high confidence in the future of what analysts are calling the “alt-meat” category.Īs of March 2021, data from NielsenIQ Product Insider shows that 14% of food and beverage dollars came from products that meet criteria for a plant-based diet. Fast Company reported that investment into alternative meat and dairy companies in the first half of 2020 was over $850 million, surpassing the total raised in all of 2019. Intense investor interest in the sector is also driving innovation and competition. Recent market shortages of pork, beef, and poultry during the COVID-19 crisis may have helped to drive greater shopper trials of meatless burger products, for example. ![]() As they grow more accessible and familiar, shopper trials tend to follow. Taste, quality, and variety have reached a higher plateau, while products like burger patties, soy and nut milks, and dairy-free cheeses have carved out permanent spots in supermarket coolers. Product innovation is also driving interest in plant-based products. ![]() For some consumers, it’s about improving their health and adding variety to their diets, while others choose to forgo meat for ethical reasons. In a 2021 study conducted for the Food Marketing Institute (FMI) by The Hartman Group, 29% of shoppers indicated they are moderating their meat intake, compared with 9% of shoppers who indicate they consume no meat products whatsoever. On top of this movement toward overall wellness, a subset of consumers are adopting a “flexitarian” eating approach-still eating meat, but less often. In the U.S., there are 200 million shoppers who adhere to a diet or health-related program and 180 million have food allergies or intolerances that affect the way they shop 1. ![]() Broadly speaking, 3 factors are in play in this sector: shifting consumer behaviors, innovation in the space, and investors.Ĭonsumers are prioritizing health, wellness, and social issues in increasing numbers, and this translates to more conscious shopping choices-such as buying products that align with specific diets, lifestyles, and values, as well as avoiding unwanted ingredients due to allergies or food sensitivities.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |