Join experts from across the industry May 29 at 11:30 CT to discuss the intersection between science and food and the role of research, nutrition and technological advancements to create products that satisfy taste buds and address health and environmental concerns at FoodNavigator-USA’s free 60-minute webinar, Plant-based 3.0: Emerging from the trough of disillusionment.
According to data from Circana crunched by 210 Analytics, unit and volume sales of plant-based meat continued to fall double-digits in March 2024 as they have for the nearly two years. In March, unit sales of plant-based meat fell 10.3% to $17.2m and volume sales in pounds fell 10.6% to $13.1m. Dollar sales fell 8.3% to 104.7m in the five weeks ending March 31 over the same period a year ago. Figures for the full year were even steeper with dollar sales for the 52 weeks ending March 31 dropping 12% year-over-year and unit sales sliding 16.6%.
Investments in plant-based companies – including meat, seafood, dairy and egg also are down. According to data from the Good Food Institute, investment in the segment declined 28% in 2023 to $907.7m from $1.3bn in 2022.
While these numbers are stark, looking at them over a two-year stack or in context of investments across the broader food and beverage landscape tells a different story, which we will explore in this webinar. Attendees also will hear from plant-based brands that are bucking the trends by expanding in retail, driving velocities and units faster than the category and securing hard-to-obtain investment funding.
Joining moderator Elizabeth Crawford, senior editor for FoodNavigator-USA, and four expert speakers, including:
- Julie Emmett, vice president of marketplace development for the Plant Based Foods Association and Plant Based Foods Institute,
- Andrew Bluestein, co-founder and managing partner at Bluestein Ventures, a family-backed venture capital fund focused on the food industry,
- Eban Bayer, CEO of Ecovative, a leading mycelium technology company, and co-founder of MyForest Foods, and
- Annie Ryu, CEO of jack & annie’s and founder of The Jackfruit Company, which use jackfruit as the foundation for a line of plant-based meat alternatives, including patties, meatballs, sausages and more.
Attendees can learn more beyond the discussion by downloading additional information from the event sponsors, including Ayana Bio, Cargill, Manildra Group USA, T. Hasegawa and Lycrored.
Learn more about the event and register HERE.