Plant-Based Trends

Goals

To understand how plant-based trends have evolved in terms of dairy and meats to determine if the seafood market is 'large enough' to support plant-based seafood companies that can become as large as Beyond Meat has in the meat market.

Early Findings

Overview: Dairy

  • Plant-based milk comprises 13% of the entire milk category.
  • In 2018, the US milk sales were down by one billion dollars while sales of plant-based milk kept rising.
  • Between 2017 and 2018, plant-based milk has grown by 6%.
  • Sales of cow's milk has declined by 3%.
  • 11% of consumers are attempting to consume less dairy.
  • Soy milk costs $4.29 per half-gallon (64-ounces), dairy milk costs $2.17 per half-gallon, and oat milk is at $5.29 per half-gallon.
  • The net sales of the dairy market was at $13.6 billion in 2018 versus $14.7 billion in 2017.

Proposed next steps:

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