Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.
Issue link: https://www.e-digitaleditions.com/i/986636
STATE OF THE SPECIALTY FOOD INDUSTRY 2018 S11 EGGPLANT BACON VEGAN MILK ALMOND PLANT-BASED SALES PERFORMANCE VERSUS ALL OTHER SPECIALTY FOODS SPECIALTY FOODS— WHAT WILL SELL IN THE FUTURE? 0 $10,000 $20,000 $30,000 $40,000 "The increase in plant-based proteins will continue," says the co-owner of an urban, independent, full-service natural and specialty supermarket. Plant-based varieties are the driver for many categories that are projected to grow over the next five years. For example, the plant-based subcategory for cheese is growing the fastest as consumers explore these new varieties. "There's definitely demand for it, and more players are coming online every day. We're starting to get to a point of duplication so clearly niches have been filled, and it will be interesting to see how [the subcategory] stabilizes," says a cheese category manager at a specialty distributor. One note of caution is that many of these categories saw slight declines in total share. They are increasingly competing against non-specialty coun- terparts as the mainstream acts to capitalize on plant-based. PLANT-BASED FOODS *Plant-based (partial) categories: Frozen Appetizers & Snacks; Frozen Breakfast Foods; Cheese & Plant-Based Cheese; Refrigerate d Creams & Creamers; Shelf-Stable Creams & Creamers; Frozen Desserts; Shelf-Stable Desserts and Toppings; Frozen Lunch or Dinner Entrees; Refrigerated Entrees; Jerky & Meat Snacks; Refrigerated Juices & Functional Beverages; Refrigerated Other Dairy & Plant-Based Items; Refrigerated Pasta; Wellness Bars & Gels; Yogurt & Kefir **Plant-based categories: Frozen Meat Alternatives; Refrigerated Meat Alternatives; Refrigerated Plant-Based Milk; Shelf-Stable Plant-Based Milk; Tofu Does not include private-label sales, specialty food perishables (PLU or random-weight specialty items sold in Bakery, Deli, Meat, and Seafood), or sales through Trader Joe's, Whole Foods Market, or the internet. Data may not equal totals due to rounding Source: Mintel/SPINS/IRI Plant-based foods and beverages are exploding. Nearly one-third of SFCs purchased plant-based products in the last six months. In this report, several categories include a combination of animal-based and plant-based products, like frozen desserts, and jerky and meat snacks, both of which grew substan- tially. Other categories are exclusively plant-based like meat alternatives: Whether frozen or refrigerated, both grew over 40 percent. In total, sales reached 20.3 billion with 32 percent market share in 2017. "The increase in plant-based proteins will continue. There's definitely demand for it, and more players coming online every day. We're starting to get to a point of duplication so clearly niches have been filled, and it will be interesting to see how [the subcate- gory] stabilizes." PLANT-BASED (PARTIAL)* 19.4% GROWTH 10.1% GROWTH 10.5% GROWTH $15,387 2015 2015 2017 2017 2015 2017 2015 2017 $18,377 $1,758 $39,135 $43,250 $1,936 3% SHARE 29% SHARE 68% SHARE $ MILLIONS PLANT-BASED** ALL OTHER