Plant-based foods have a lot of buzz in the industry and are an area of growth. But what about frozen plant-based foods? We found parts of this subset are “colder” on growth than others. Natural Positioned items are driving the most variance dollars but with minimal growth, while Specialty & Wellness have less variance dollars but the highest growth. Conventional Positioned items, in contrast, have significant declines. See chart below:
The three frozen plant-based foods categories also have mixed performance. Frozen Entrees are driving the most variance dollars with the highest growth, while Meat Alternatives is a nearby second in variance dollars, but with minimal growth. Putting a “freeze” on growth, Frozen Desserts has significant decline (albeit not all subcategories within are declining). See chart below:
For related SPINS information on Plant-Based Foods, click here: https://www.spins.com/plant-based-insights/