Q1 was an alt-meat downer at retail

Total plant-based meat alternatives
Combined refrigerated and frozen plant-based meat alternatives generated $105 million in the five weeks ending April 2, 2023 (“March”). This was down 8.9% year-over-year, according to Circana point-of-sales for the conventional multi-outlet channels (grocery, mass/supercenter and club). Unit and volume pressure for combined frozen and refrigerated meat alternatives continued to trend behind year-ago levels by double digits.