Is Plant-Based Meat Ripe for Expansion?
Kelly Beaton, The Food Institute
Jul 29, 2022
Sales for plant-based meats have weakened in recent months.
Unit sales for refrigerated and frozen plant-based meats for the four weeks ended April 24 were down 8.3%, to 17.2 million, compared to a year prior, according to market research firm IRI. Pound sales for the period declined 6.4% to 12 million, while dollar sales edged up 0.7% to $92.3 million, no doubt boosted by inflation, reported Supermarket News (July 18).
While sales of plant-based meats have slowed, the category could be ripe for expansion, particularly as pricing moves closer to that of traditional meats.
To inspire consumer interest, retailers must find an ideal merchandising balance for plant-based and conventional meats and identify ideal areas of their store to display them, according to Anne-Marie Roerink, president of 210 Analytics LLC.
“Household penetration is stalling out at around 10%, with high levels of trial,” Roerink told Supermarket News regarding plant-based meat products.
CONSUMER SENTIMENT ...
SUGGESTIONS FOR RETAILERS ...
more, including links