To document the changing nature of the marketplace, IRI, Anne-Marie Roerink of 210 Analytics and Marriner Marketing have teamed up to continue to bring the latest trends and analysis relative to frozen meat alternatives. This is the fifth in a series of reports presented by IRI, discussing inflation trends.
Total plant-based meat alternatives
Combined refrigerated and frozen plant-based meat alternatives generated nearly $93 million in the four March 2022 weeks ending March 27, which puts sales up 3.6 percent versus March 2021. However, dollar gains were boosted by the inflation seen in frozen meat alternatives, while unit and volume sales were down year-on-year.
Refrigerated plant-based meat alternatives
Refrigerated plant-based meat alternatives, commonly merchandised in the meat or produce department, saw continued sales growth pressure in March 2022. The four-week period reached $33 million in sales, down 8.6 percent versus year ago and 21.5 percent versus two years ago – which was the first month of the pandemic with tremendous sales spikes across categories.
The average items per store selling in March 2022 were down a little versus year ago, at 16.8 unique items, representing 2.2 percent. Additionally, prices were relatively flat which means refrigerated plant-based meat alternative sales did not get an inflation-related boost either.
Price per pound
Prices for refrigerated plant-based meat alternatives were relatively flat in March 2022 versus the same weeks last year on a per volume and per unit basis. On the other hand, animal-protein, in both meat and seafood, had significant levels of inflation.
Pound sales for refrigerated plant-based meat alternatives in March 2022 reached 4.0 million, which was down 8.4 percent year-on-year. The latest 52-week view was also down, at 3.7 percent versus year ago.
Most meat substitute formats were down year-on-year in dollars and pounds. A few of the newer, smaller formats grew, but they were unable to offset the losses in the bigger forms.
Frozen meat, chicken and seafood alternatives
Frozen meat, poultry and seafood alternatives sales reached $56 million in March 2022. This is about $23 million more than refrigerated alternatives in addition to being an increase of 10.2 percent versus year ago. However, frozen alternatives’ sales were a fraction of the $1.4 billion in combined frozen meat, poultry and seafood sales in March 2022.
Dollar sales for frozen plant-based meat alternatives were boosted by inflation, while units and volume were down year-on year. The sales patterns in frozen meat and frozen meat alternatives were very similar.
For more information, visit iriworldwide.com.
To read the meat report from IRI presented by The Shelby Report, click here.
To read the dairy, deli and bakery report from IRI presented by The Shelby Report, click here.
To read the frozen foods report from IRI presented by The Shelby Report, click here.
To read the seafood report from IRI presented by The Shelby Report, click here.
