1、Circana,LLC|For public use1Copyright 2024 Circana,LLC(“Circana”).All rights reserved.Circana,the Circana logo,and the names of Circana products and services are trademarks of Circana.All other trademarks are the property of their respective owners.The Current State of Meat AlternativesSeptember 2024
2、Circana Inspire Circana,LLC|For public use2Executive summary Meat alternatives,including substitutes for chicken and beef,are just 1%of total meat category sales,but they represent a solid subcategory that continues to evolve.Meat alternatives sales reached$1.3 billion in 2020 but have experienced t
3、hree years of declines.Still,the current$1.1 billion is higher than pre-pandemic dollar sales.To a lesser degree,seafood and dairy alternatives have also struggled.Frozen accounts for 70%of meat alternative sales,compared to a 30%share for fresh meat alternatives;still,nearly 30%of buyers purchase b
4、oth options.After major growth in 2020,retailers are resetting the store and paring back their meat alternatives offerings.Meat alternatives feature a$4.20 price gap above total meat,which might hinder purchases.The percentage of households purchasing plant-based meats is declining,resulting in buye
5、r loss.However,frequent-purchase households spend more per trip and have a higher dollar share across alternative categories,including dairy alternatives.OpportunitiesFresh,healthy foods merchandised in the store perimeter,including fruit and salad greens,are among the top categories found in the me
6、at alternatives basket.Cross-merchandise with the produce aisle to inspire healthy meals.Given the high price gap of meat alternatives,brands need to define“value”for the shopper,including taste experience,convenience,form,and nutritional profile.Across the U.S.,there are pockets of high adoption of