Interest In Plant-Based Products Cooling Off

Plant-based products started quickly in the grocery sector a few years ago. However, Supermarket News says that the market is beginning to settle and evolve.  The plant-based meat sector, a hot topic a few years ago, is currently experiencing growing pains.  Fresh meat alternatives had volume sales of 36.9 million pounds for the 52 weeks ending on May 19th; a 21% year-over-year drop.  Volume sales for frozen alternatives totaled 90.1 million during the same period, down almost 12% year-over-year.

According to Supermarket News, plant-based dairy is also going through a significant downcycle.  Through May 19th, non-dairy milk dollar sales were down 29% versus the same time in 2023, and volume was 18% lower. 

A Chicago-based marketing firm that specializes in plant-based products says the overall plant-based industry has been struggling, but the dairy category is especially lagging.  When milk supplies dropped, plant-based milks had to increase their prices to cover costs.

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