Plant-Based Meat Sales Continue Its Precipitous Decline

The following report is by AgFunder Tech News:

US retail sales of plant-based meat alternatives have continued to decline, falling 12.6% to $106.8 million in the five weeks ending July 2, 2023, with units down 19.8% year-over-year, according to new data from Circana (formerly IRI).*

For the year to July 2, 2023, sales fell 7.3% year-over-year to $1.1 billion, while units dropped 15.6%.

According to Anne-Marie Roerink, president at consultancy 210 Analytics:

Despite very low inflation and investment in promotions, volume sales have not been able to maintain the levels seen in the past two years.

While sales are down across all temperature states, the biggest declines have been in the refrigerated meat case and produce department, where retailers have also been cutting their assortments, she noted. “At $34.4 million, sales levels in the five weeks ended July 2, 2023, have fallen below June 2022 levels by 21.9% and compared to June of 2021, sales were down 33.4%.”

Refrigerated volume sales (lbs), alt meat, Circana, multi-outlet data:

• 2019: 33.4m (+38.7% year-over-year)
• 2020: 58.8m (+76.2%)
• 2021: 59m (+0.4%)
• 2022: 51m -(13.6%)
• June 2023: 4.1m -(25.1%)

Conventional Meat Sales Are Also Down, But More Modestly

To place this in context, dollar sales of conventional refrigerated meat fell by a more modest 2.7% year-on-year to $8.4 billion in the five weeks ending July 2, 2023, with units down 2.9%.  In the year to July 2, dollar sales edged up 1.6%, with pounds down 1.7%.

Dollar sales of frozen meat, meanwhile, fell 3.8% in the five weeks ending July 2, with units down 2.3%.

Inflationary Pressures

The price per unit across all foods and beverages in the Circana-measured multi-outlet stores increased by 6.4% in the five weeks ending July 2, wells down from the double digit inflation shoppers were experiencing earlier in the year, said Roerink.

However, “the continued concern among consumers lies in the cumulative effect of inflation,” she said. “When comparing June 2023 to June 2020, prices have increased by 23.2%.”

*Circana’s point of sale data covers multi-outlet channels (grocery, mass, supercenter and club), but excludes natural channel retailers such as Whole Foods and convenience stores.

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AUTHOR COMMENTARY

[17] Fools because of their transgression, and because of their iniquities, are afflicted. [18] Their soul abhorreth all manner of meat; and they draw near unto the gates of death.

Psalms 107:17-18

I’ve reported several times over already that the plant-based and faux meat sales are comical. It’s such a stupid and demented concept, one that is both more expensive and unhealthy; but again demonstrates that hypocrisy and influence of devils in these people’s lives, for trying so hard to emulate meat and dairy products without actually eating meat. It’s absurdity.

SEE: Fake And Plant-Based Meat Sales Have Collapsed As 20% Of Staff Laid-Off At Larger Companies

This does not mean the elites won’t stop trying to prioritize this, but as for right now it’s a total, embarrassing flop.

[1] Now the Spirit speaketh expressly, that in the latter times some shall depart from the faith, giving heed to seducing spirits, and doctrines of devils; [2] Speaking lies in hypocrisy; having their conscience seared with a hot iron; [3] Forbidding to marry, and commanding to abstain from meats, which God hath created to be received with thanksgiving of them which believe and know the truth. [4] For every creature of God is good, and nothing to be refused, if it be received with thanksgiving: [5] For it is sanctified by the word of God and prayer.

1 Timothy 4:1-5

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[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).

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