Surge in Plant-Based Sales: THIS™ Leads the Way to Recovery
In a remarkable turn of events, UK-based plant-based food company THIS™ has reported an impressive 43.3% increase in unit sales over the past month, significantly outpacing the category's overall growth of just 0.5%. This surge highlights a renewed consumer interest in plant-based options and the brand's effective positioning in a challenging market.
Leading the Market
Over the last 12 weeks, THIS™ has achieved a remarkable 25% growth in value, generating £1 million in incremental revenue, more than double that of its closest competitor. These figures, derived from extensive retail tracking, illustrate how THIS™ is not only maintaining a robust market presence but also actively contributing to the recovery of the chilled meat-free category, which has struggled amidst economic challenges and shifting consumer preferences.
A Positive Future for Plant-Based Foods
Nick Ball, Commercial Director at THIS™, expressed pride in the brand's performance, emphasizing the essential role it plays in revitalizing the market segment. He stated that despite the broader category experiencing stagnation or decline, THIS™ has demonstrated significant gains in both value and volume, confirming a strong appetite for plant-based products when they meet consumer expectations.
Innovative Collaborations and Product Launches
As a key player in the market since its launch in 2019, THIS™ has established partnerships with major UK supermarkets including Tesco, Sainsbury’s, Asda, and Waitrose. The company recently announced an exciting collaboration with Dutch food tech firm Rival Foods to launch a new plant-based fillet steak, which is expected to be a pivotal product in its portfolio this year.
With the momentum building and the category now returning to growth, THIS™ is poised to continue its influential role in the plant-based food industry. The brand's achievements suggest that there is still a vibrant and enthusiastic consumer market for innovative and well-positioned plant-based offerings.
