英文2024年肉类替代品的现状报告

Copyright2024

Circana,LLC(“Circana”).Allrightsreserved.

Circana,theCircanalogo,andthenames

of

CircanaproductsandservicesaretrademarksofCircana.Allothertrademarksarethepropertyoftheirrespective

owners.Circana

InspireTheCurrentStateofMeat

AlternativesSeptember2024OpportunitiesFresh,healthyfoodsmerchandisedinthestoreperimeter,

including

fruit

and

salad

greens,

are

amongthetop

categoriesfoundinthemeatalternativesbasket.Cross-merchandisewiththeproduceaisleto

inspirehealthymeals.Giventhehighpricegapofmeatalternatives,

brands

needtodefine“value”

forthe

shopper,

includingtaste

experience,convenience,form,andnutritionalprofile.AcrosstheU.S.,therearepocketsofhighadoptionof

meat

alternatives.Track

and

adopt

strategiesfrom

successfulretailers.Plant-basedmeatsskewtomillennialandGenX

householdswithhigher

incomes.With

millennials

still

honing

theircookingskillsandshoppinghabits,theyarereceptivetoinspiration.Retentionoffrequentbuyersiscriticaltocategorysuccess;heavy

buyers

represent75%

of

dollar

sales.Understandfrequent-buyerprofilesandidentifywaystokeepthemengagedinthecategory,

such

as

highlighting

trendingflavors,packsizes,and

recipes.Investininnovation:Futuremeatofferingswilldelivervaluethroughclean,

quality

products

rooted

in

key

consumertrends.ExecutivesummaryMeatalternatives,includingsubstitutesforchickenand

beef,

arejust

1%oftotal

meat

category

sales,

butthey

representasolidsubcategorythatcontinuestoevolve.Meatalternativessalesreached$1.3billion

in

2020

but

haveexperiencedthreeyearsofdeclines.Still,thecurrent$1.1billionishigherthan

pre-pandemicdollarsales.Toalesserdegree,seafood

and

dairy

alternatives

havealsostruggled.Frozenaccountsfor70%ofmeat

alternativesales,

comparedtoa30%shareforfreshmeat

alternatives;

still,nearly30%ofbuyers

purchase

both

options.Aftermajorgrowthin2020,retailers

are

resettingthe

storeandparingbacktheirmeatalternativesofferings.Meatalternativesfeaturea$4.20pricegap

abovetotal

meat,whichmighthinderpurchases.Thepercentageofhouseholdspurchasing

plant-based

meatsisdeclining,resultingin

buyer

loss.

However,frequent-purchasehouseholdsspendmorepertripand

haveahigherdollarshareacross

alternativecategories,

includingdairyalternatives.Circana,LLC|

For

public

use2$1.1B$1.3B$1.2B

$1.2B+46.2%$856M-1.4%-1.8%-11.4%experiencedthreeyears

$1.1B

in

2023TotalMeatAlternativesDollarSalesand

%

Chg.vs.YAAlthoughthecategoryexperienced

significantdeclines

in2023,meatalternatives

stillexceeded2019pre-pandemicdollarsales.Meatalternativessaleshit$1.3B

in2020,

but

haveofdeclines,landingatSource:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

use2019

2020

2021

2022

20233Meatalternativeshaslostdollarshareoftotal

meatdepartmenteveryyearsince2020MeatAlternativesDollarShareofMeatDollarSales%

Chg.vs.YAMeatAlternatives

46.2%-1.4%-1.8%-11.4%-6.7%1.26%1.12%1.07%1.14%1.39%1.37%Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,dates:

CY2019,

2020,

2021,

2022,

2023,

CYTD

WE

7/14/2024Circana,LLC|

For

public

useTotal

Meat

(Fz/Rfg)20.3%0.1%6.5%-0.3%3.2%YTD

’24202020212019202220234Meat,seafood,anddairyplant-basedalternatives

havestruggledacrossthestoreinrecentyears$Sales%

Changevs.YA

TotalStoreMeat,Seafood,

DairyMeat,Seafood,DairyAlternatives27.2%-3.0%

-3.0%4YA3YA

2YA

YA

L52WSource:Circana,

TSV(totalstoreonly),IntegratedFreshMarketAdvantage,U.S.MULO,L52W7/14/2024Circana,LLC|

For

public

use4YR

CAGR

+3%Meat,Seafood,DairyAlternatives`SEAFOODALTERNATIVES+7%4-yearCAGR

(Dollars)DAIRYALTERNATIVES+5%4-yearCAGR

(Dollars)MEATALTERNATIVES-2%4-yearCAGR

(Dollars)6.0%5.1%5Breakingitdown:freshvs.frozenimpactonmeatalternativesgrowthYeartodate,

meat

alternativesis

a$1.03billionmarket,withfrozen

outpacingfresh.RefrigeratedMeatAlternatives6.3

-1.5-16.0FrozenMeatAlternatives11.3

-2.0-6.0TotalMeatAlternatives13.6

-2.4-9.3TotalU.S.All

OutletsMeatAlternatives$Share30%Rfg/FreshSource:Circana,IntegratedFreshScanPanel,MarketAdvantage;totalU.S.,alloutlets,MULO,L52WE

7/14/2024Circana,LLC|

For

public

useConsumer

Dynamics

MeatAlternatives%

HH

Buying

Changevs.YA$

Sales%

Changevs.YA70%Frozen%

HH

Buying6Whilefrozenispreferred,29%ofmeatsubstitutebuyers

havepurchasedbothfrozenandfreshproductsFrozen

Meat

Alternatives8.8M

Buyers53%+1.5ptsvs.

YA53%

ExclusiveFresh

Meat

Alternatives2.9M

Buyers18%+1.5ptsvs.YA18%

ExclusiveSource:Circana,IntegratedFreshScanPanel;totalU.S.,alloutlets,L52WE7/14/2024Circana,LLC|

For

public

useBuyer

Overlap4.8MBuyers29%-3.0ptsvs.YABuyersBuyers7Frozenmeatsubstituteshaveoutperformed

freshyearoveryear4YA3YA2YAYAL52WSource:Circana,IntegratedFreshMarketAdvantageU.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

use8FROZENMeatSubstitutes

DollarSales$774M$765M$742M$705MFRESHMeatSubstitutes

DollarSales$500M$405M4YA3YA2YAYAL52W$459M$371MCAGR+0.5%CAGR

-6.6%$720M$309MVelocitiesaredecliningdespitefewermeat

alternativesitemssellingperstoreFreshmeatsubstitutesaredownanaverage

of4

items

per

storevs.

3YA,

representing

an

18%

reduction

in

SKUs.$18.20$15.30$12.7544.642.641.939.6MeatSubstitutesAverageItems

Per

Store45.8Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

useMeatSubstitutesDollarVelocity($M/ACV)4YA

3YA

2YA

YA

L52W4YA

3YA

2YA

YA

L52W$19.50$18.909Themeatalternativescategoryhasexperienced

marketrationalizationAvailablebrandsofin-market

meat

alternativesdeclinedby28%,from

116

brandsin2020to83

brandsYTD

2024.Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,

CY

2020,

CYTD

WE8/11/2024Circana,LLC|

For

public

use101162020832024FreshCommon

Fruit37.6188FreshSnacking/SaladVegetables30.3232SaltySnacks30.1174Milk27.8173FreshSaladsand

Leafy

Greens26.1253DairyNatural

Cheese23.0210CenterStore

Breads22.0201FreshCookingVegetables20.9249BasketswithmeatalternativesoftenincludefoodsmerchandisedintheperimeterofthestoreProduct

%

BasketTripsCo-purchase

IndexSource:Circana,IntegratedFreshScanPanel;product:meatalternatives;totalU.S.,alloutlets,L52WE7/14/2024Circana,LLC|

For

public

use11TopCategoriesintheMeatAlternativesBasket$4.20Meatalternatives’pricepervolumegapwith

totalmeathasincreasedsince2022Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,

CY

2019,2020,2021,

2022,

2023,

2024

ending

7/14/2024Circana,LLC|

For

public

use121.07%92.3291.00CY

’22CY

’24TotalMeatvs.MeatAlternativesPrice

Per

PoundGapCY2019CY2020CY2021CY2022CY2023CYTD

2024Alternatives$Share1.26%U.S.Distribution$4.16DAIRYALTERNATIVES$1.36/lbPriceGapto

Category

$0.31/lbFZ

SEAFOODALTERNATIVES$8.44/lbPriceGapto

Category

$1.27/lb$0.31$0.26CY2019CY2020CY2021CY2022CY2023CYTD

'24Meatalternativeshavealargerpriceperpound

gapwithtotal

categoryThisgapismorethandairyandfrozen

seafood

alternatives.$0.81$0.52$0.27$1.08$0.13$1.27Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,CY

2019,

2020,

2021,

2022,

2023,

2024

ending

7/14/2024Circana,LLC|

For

public

use13MEATALTERNATIVES$8.26/lbPrice

GaptoCategory

$4.20/lb

DollarsSalesTrendvs.CategoryVolumeSalesTrendvs.CategoryPrice

PerVolumeGaptoCategory$0.31$0.31$0.30$0.28Chickenandturkeyfrozen

pattiesaregrowingvolumeThisgrowthisprovidingvalueand

a“betterforyou”

leanprotein

option.Chicken$3802.1%6.9%$4.04-4.5%Turkey$124-2.1%3.5%$5.08-5.5%Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

use14Alternatives$266-7.7%-12.4%$7.595.3%Beef$787

1.4%-0.1%$4.661.5%VolumeSales%

ChangePrice

per

Volume

%

Change$

Sales

%

ChangePrice

per

VolumeSales$(M)FZ

BurgersInthefaceoflaggingcategorytrends,somemeat

alternativebrandsaredeliveringdollargrowthDollarSalesChangevs.YA

(M)Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

use15$10.2BEYOND$2.0ABBOT’S$1.5DARING$2.7MEATIWinningmeatalternativesaredeliveringquickand

easysolutionsalongwithelevatedexperiencesConvenienceCo-branding

Ingredients

Flavor

Form

Circana,LLC|

For

public

use16Topgrowthitemsaredeliveringinnovative

forms,flavorexpansion,andconvenienceTop

15

Growth

Items

$

Sales

Change

vs.

YA

Convenience

Form

Flavor$2.3M

$2.1M

$1.7M

$1.6M

$1.5M

$1.3M

$1.2M*Trueinnovationnosalesin

prior52W

period

Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

use

17$7.7M$3.6M$3.3M$3.2M$3.2M$3.0M$2.6M$2.4M*Conveniencecontinuestobeatopconsiderationduringtheshopper

journeyand

whenpurchasingmeat+8.6%AllOther

Beef

Cuts+5.8%+2.7%Raw

Pork

Bacon+1.4%+9.3%ChickenWhole

Bird

-0.1%+8.1%Bone-inChickenThighs

+1.2%-0.8%No

Prep

Pork

Loin

-1.9%+1.8%DeliService

Lunchmeat

-6.4%+11.0%Deli

Prepared

Dept.+4.6%-0.4%Seafood

Dept.

-5.1%Source:Circana,IntegratedFreshMarketAdvantage,totalU.S.MULO,dollarsales

%

chg.

vs.

YA,L52W

ending

8/11/2024Circana,LLC|

For

public

use18DeliPrepared

MeatMarinatedPork

LoinGrab&

Go

LunchmeatRotisserieChickenBonelessChickenThighsGround

BeefConvenience

BaconDeliSushiThere’sstillroomtogrow

acrossmajor

marketsinthe

U.S.

HighAdoption

MediumAdoption

LowAdoptionSource:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

7/14/2024Circana,LLC|

For

public

use19Atlanta,GA165.2Orlando,

FL

164.5New

Orleans,

LA59.9New

England

168.9Portland,

OR

179.8Houston,TX

61.7Mississippi

36.9Theshareofvegetariansremainsconsistent,

evenaspeopleidentifyingasmeateatersincreasesTheshareof

people

identifying

asvegetarians/veganshasbeen~5-7%for

18years.Butin

recentyears,

keto

and

carnivorediets

have

been

trendingonsocial

media,leadingtoanincrease

inthe

percentageofconsumers

identifyingasmeateaters.7%Vegetarian/Vegan+1%vs.

2022

70%●*Bestdescribeshow

youeattoday

Source:Circana,210Analytics

AnnualMeatConference,

ThePowerof

Meat,2024and2022Circana,LLC|

For

public

use

201%Pescatarian-3%vs.

2022

58%80%Meat

Eater+6%vs.

2022

75%12%Flexitarian-4%vs.

2022

58%Plant-basedmeatskewstomillennialsand

GenXhouseholdswithhigherincomesMillennialsUpper

Income

African-American

AsianGenerationXMales45–54UrbanSource:Circana,IntegratedFreshScanPanel;

totalU.S.,alloutlets,L52WE7/14/2024Circana,LLC|

For

public

use21Meatalternatives’householdpenetrationhasdeclined,resultinginbuyerlossandcreatingan

obstacleforgrowth25.4M24.6MSource:Circana,IntegratedFreshScanPanel;totalU.S.,alloutlets,CY

2020,

2021,

2022,

2023Circana,LLC|

For

public

use2223.9M19.919.418.619.0M14.7FZ/RFGMeatAlternatives

%of

HouseholdsBuyingFZ/RFGMeatAlternatives

Buyers202020212022202320202021

2022

2023Meatsubstitutesarelosingbuyersfasterthan

theyaregainingnewbuyers,evenasretained

buyersarebuyinglessBuyerMigrationforMeatSubstitutes

—Last

52

WeeksSource:

Circana,IntegratedFreshScanPanel;totalU.S.,alloutlets,L52WE

7/14/2024Circana,LLC|

For

public

use2315.1%TOTALVOLUME

IS

DOWN91%13%9%VolumeFromRetainedBuyers(-11%)Declinein

VolumeFromLost

BuyersVolume

FromNew

BuyersHeavymeatalternativebuyers

make4Xmoretripsandspend2XmorepertripThisgroupisdecliningfasterthananyotherbuyer

segment.%

BuyerChange

–

L52WHeavy

MeatAlternative

Buyers20%Total

Buyers75%TotalSalesSource:Circana,IntegratedFreshScanPanelProduct;meatalternativesgeography:

totalU.S.,alloutlets,L52WE7/14/2024Circana,LLC|

For

public

use24-14.4-16.1

-16.1Medium

MeatAlternativeBuyersHeavy

MeatAlternativeBuyersLight

MeatAlternativeBuyersAllHouseholds-20.2Heavybuyersholdahigherdollarshare

acrossalternativecategoriesPERCENTAGE

OF

DOLLARSPERCENTAGE

OF

BUYERSSource:Circana,IntegratedFreshScanPanelProduct;meatalternativesgeography:

totalU.S.,alloutlets,L52WE7/14/2024Circana,LLC|

For

public

use25Heavy

Refrigerated

Milk

BuyersHeavy

DairyAlternative

BuyersHeavy

MeatAlternative

BuyersHeavyAlternative

Milk

BuyersHeavy

Fresh

Meat

Buyers70%75%20%20%21%67%58%58%19%19%$

per

Buyer$65.73+3.8%$

perTrip$10.43+2.1%Trips

per

Buyer6.3+1.7%lost2.9M

buyers

vs.YAFrequent-purchasehouseholdsaredecliningfasterthan1X

purchasers.

Frequentbuyersarespendingmoreper

trip

and

increasingpurchasetrips.%of

HH

BuyingTotal13.6%-2.4

pts%of

HH

Buying

1X5.2%-0.7

pts%of

HH

Buying

2X+8.4%-1.7

ptsInthelast52weeks,meatalternativesSource:Circana,IntegratedFreshScanPanel;totalU.S.,alloutlets,L52WE7/14/2024Circana,LLC|

For

public

use

26$1.4B

Halfofventurecapitalfundingis

held

by

5companiesCultivatedmeatiscapturinginvestments

andattention$3.1B

All-time

investmentincultivated

meatsSource:Circana,https://www.labiotech.eu/bestbiotech/cultured-meat-companies/,

/preliminary-agfunder-data-point-to-78-decline-in-cultivated-meat-funding-in-2023-investors-blame-general-risk-aversioCircana,LLC|

For

public

use27Cultivatedmeatandseafood

facilities

openedorannounced

in

2023174

Cultivated

meatandseafoodcompanies17+Circana,LLC

|

For

public#2dollargrowth

meatalternativesbrandin

L52W

wasfermentedmeatalternativeeatmeati.Picture:Meati’sMegaRanch,https:///

Source:Circana,IntegratedFreshMarketAdvantage,U.S.MULO,L52WE

6/16/2024Circana,LLC|

For

public

use28Circana,LLC|

For

public29Futuremeatalternativeswilldelivervaluethroughclean,quality,andinnovativeproducts

rootedinkeyconsumertrendsTasteandflavorforwardSimpleandtransparentInnovativeconceptsCircana,LLC|

For

public

use

29PartnershipsandEndorsementsLeveragingtrustedandestablishedassociations’certifiedlabelsto

buildconsumerconfidenceIngredientTransparencyFocusingresourcestoshifttheultra-processedperceptionMeatiCarneAsada

SteakingredientsMeatiSteak(Mycelium,

LessThan

2%

Of:

Salt,

Natural

Flavor,

FruitJuiceforColor,

Oat

Fiber,VegetableJuiceforColor,LycopeneforColor),Seasoning

Blend(DehydratedGarlic,Salt,Sugar,

Spices,Paprika,

Dehydrated

Onion,Cilantro,Olive

Oil,

Natural

Flavors,

Extractives

of

Paprika).Simpleandtransparentempowersmeat

alternativesconsumersSource:Circana,BeyondMeatandEatMeatiProductwebsitesCircana,LLC|

For

public

use

30Tasteandflavor-forwardoptionsprovide

elevatedexperiencesCapturebuyerswithon-trendflavorsincludingethnic

offeringsand

proven

restaura