The plant-based alternatives (to conventional animal foods) retail market is worth over $3.7B.

• With the additional of natural channel sales data, the total plant-based alternative retail market is worth over $4.1B.

In the natural channel, the plant-based alternative market is worth $409MM.¹

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Dollar sales of plant-based alternatives grew 17% in the past year.

• Comparatively, total U.S. retail food dollar sales grew just 2%.
• Plant-based dollar sales growth has accelerated in the past year compared to the prior year. Previous data from August 2017 showed plant-based dollar sales had grown 8% in the preceding year.

("$ Sales Chg vs. YAG" = $ Sales Change versus Year Ago)

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Plant-based dollar sales are increasing double-digits in every region of the country.

• This indicates that the shift towards plant-based is not confined to the coasts or urban areas, but instead is occurring across the country.

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In key categories, plant-based dollar sales are growing significantly, while animal-based dollar sales are declining or growing only modestly.

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Plant-based distribution is increasing across categories, as measured by ACV and TDP.

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The average unit price of plant-based alternatives is below $5 across all categories.

• The average unit price of plant-based alternatives is still greater than that of animal-based foods across most categories, including meat, milk, cheese, yogurt, and ice cream & novelty.

The plant-based meat category is worth $684MM.

• With the additional of natural channel sales data, the total plant-based meat category is worth over $767MM.

In the natural channel, the plant-based meat category is worth $83MM.¹

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Dollar sales of plant-based meat grew 23% in the past year.

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Over 157MM units of plant-based meat were sold in the past year.

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Plant-based meat accounts for just under 1% of all retail meat dollar sales.

• The plant-based meat category today is reminiscent of the plant-based milk category a decade ago when it was in its early stages of rapid growth.
• Plant-based milk now accounts for 13% of all retail milk dollar sales. The opportunity for plant-based meat to gain 12 points of market share - reaching market share parity with plant-based milk - is worth over $10B.

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Plant-based meat dollar sales are growing double-digits in every region of the country.

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Growth in plant-based meat is not just coming from increases in distribution, category dollar velocity is up 20% (as measured by dollar sales per point of distribution).

• This indicates that plant-based meat is selling at a faster rate than it did one year ago. It also indicates that each shelf slot dedicated to plant-based meat is generating more revenue for retailers than it did one year ago.

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Plant-based meat is sold in 79% of retail food stores and 95% of grocery stores (as measured by %ACV).

• This indicates room for plant-based meat distribution growth in retail stores outside of conventional grocery, such as convenience and drug.

Frozen plant-based meat accounts for over 75% of all plant-based meat dollar sales and is more widely distributed than refrigerated plant-based meat.

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Refrigerated plant-based meat dollar sales grew 49%, much faster than frozen plant-based meat dollar sales, which grew 17%.

• This reflects a shift in merchandising strategies as more plant-based meats are being shelved in the refrigerated case or adjacent to conventional meat.

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Shelf-stable plant-based meat is a small category and accounts for just over 1% of total plant-based meat dollar sales.

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Plant-based seafood accounts for just $9.3MM (1.4%) of total plant-based meat dollar sales.

• Approximately 95% of plant-based seafood dollar sales are from the frozen section.
• Several new brands of plant-based seafood will be launching soon or recently launched, including Good Catch, Ahimi, and New Wave.

11.9% of all U.S. households purchase plant-based meat, which equates to approximately 15 million households.

• Last year 10.5% of U.S. households purchased plant-based meat. This is an increase of 1.4 points or 13%.
• Compared to household penetration of plant-based milk at 37%, there is clear upside for the number of households purchasing plant-based meat to increase threefold.

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The projected number of household trips to purchase plant-based meat is over 79MM annually.

• This is an increase of almost 12 million household trips from last year.

The plant-based milk category is worth $1.8B.

• Plant-based milk alone accounts for almost half of the total plant-based food market.
• With the additional of natural channel sales data, the total plant-based milk category is worth over $1.9B.

In the natural channel, the plant-based milk category is worth an additional $110MM.¹

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Dollar sales of plant-based milk grew 8.8% in the past year.

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Over 567MM units of plant-based milk were sold in the past year.

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Plant-based milk accounts for 13% of all retail milk dollar sales.

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Plant-based milk is sold in 89% of retail food stores and 100% of grocery stores (as measured by %ACV).

• This officially makes plant-based milk ubiquitous.

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Growth in plant-based milk is not being driven by increases in distribution. Rather, category dollar velocity is driving the increase, up over 7% from last year (as measured by dollar sales per point of distribution).

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Plant-based milk is the most developed plant-based category and is also the most promoted of all plant-based food categories.

• Plant-based milk is the one plant-based category that is consistently shelved adjacent to similar animal-based products.

Refrigerated plant-based milk makes up 88% of all plant-based milk dollar sales.

• Refrigerated plant-based milk dollar sales increased more (+9.7%) than shelf-stable plant-based milk dollar sales (+2.3%) over the past year.
• The shelving change many years ago that saw plant-based milk move to the refrigerated set was key to introducing these products to a much larger consumer base and thus, rapidly growing category sales.

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Almond milk is the category leader with the majority of dollar sales and its sales are still increasing. Oat milk is the fastest growing type of plant-based milk.

37% of all U.S. households purchase plant-based milk, which equates to over 45 million households.

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The projected number of household trips to purchase plant-based milk is 335MM annually.

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Households that purchase plant-based milk exhibit high cross-purchase behavior across all other plant-based alternative categories.

• This indicates that plant-based milk is the entry point for many consumers into other plant-based categories.

The plant-based ice cream and frozen novelty category is worth $232MM.

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Dollar sales of plant-based ice cream and frozen novelty grew 40% in the past year.

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Plant-based ice cream and frozen novelty is sold in 70% of retail food stores (as measured by %ACV).

The plant-based yogurt category is worth $174MM.

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Dollar sales of plant-based yogurt grew 54% in the past year.

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Plant-based yogurt is sold in 61% of retail food stores (as measured by %ACV).

The plant-based butter category is worth $169MM.

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Dollar sales of plant-based butter grew 6% in the past year.

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Plant-based butter is sold in 73% of retail food stores (as measured by %ACV).

The plant-based cheese category is worth $133MM.

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Dollar sales of plant-based cheese grew 41% in the past year.

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Plant-based cheese is sold in 61% of retail food stores (as measured by %ACV).

The plant-based creamer category is worth $125MM.

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Dollar sales of plant-based creamer grew 62% in the past year.

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Plant-based creamer is sold in 65% of retail food stores (as measured by %ACV).