1、Taking Alternative Proteins Mainstream February 2023 By Elfrun von Koeller,Neeru Ravi,Ema Tanovic,Lauren Taylor,and Malte Clausen1 TAKING ALTERNATIVE PROTEINS MAINSTREAMTaking Alternative Proteins MainstreamAlternative dairy,the largest category of alternative proteins by retail sales,has done a lot

2、 to appeal to mainstream consumersand US retail sales grew by 12%in 2022.Alternative meat,on the other hand,has had less success with mainstream consumersand US retail sales declined by 0.4%in 2022.Further product innovation is necessary to bring alternative meat to parity with traditional meat,but

3、our analysis found that companies also have significant room for improvement in their marketing of alternative meat products to mainstream US consumers.We have identified four immediate actions that companies can take to stimulate consumer demand for alternative proteinsparticularly alternative meat

4、in the US.Alter-native meat companies currently implementing two or more of these actions are outperforming their competitors by a wide margin(six to one).In addition,we point out several concrete steps that alternative protein companies can take to build market share over the long term.Retail Sales

5、 Data Tells a Tale of Two CategoriesFor companies that produce and sell alternative proteins,2022 was a year of concerning headlines,as the disap-pointing stock performance of former market darlings such as Beyond Meat and Oatly attracted considerable atten-tion.Nevertheless,the overall trajectory f

6、or alternative proteins in the US,as indicated by 2022 retail performance,shows significant and continued growth.(See the sidebar“Types of Alternative Proteins.”)Across alternative dairy(which includes alternatives to milk and other dairy products such as cheese and yogurt)and alternative meat(which