Hain Celestial, a company in the food and beverage industry, stated that the meat-free category is showing promising growth with increased sales and market share. The company’s Yves alternative-protein brand saw an increase in market share in Canada’s fresh and frozen segments. Additionally, Linda McCartney’s brand in the UK reported an increase in sales of its frozen products, with the launch of the Linda’s Best Burger set for the upcoming year.
According to Hain Celestial’s president and CEO, Wendy Davidson, the company remains committed to the meat-free category despite challenges in the industry. She emphasized the long-term growth potential and consumer demand for veg-forward, flexitarian, and vegetarian options.
However, the company faced challenges in its baby and kids segment, particularly with infant formula in North America, which contributed to a decline in global first-quarter sales. Hain Celestial expects this to continue in the second quarter before recovering in the second half of the fiscal year.
Nevertheless, the company saw strength in baby food and purées, especially under its Ella’s Kitchen and Earth’s Best brands. This segment is one of Hain Celestial’s core focus areas, part of the company’s Reimagined 2027 strategy.
Despite the decline in organic sales, Hain Celestial’s performance was within its own guidance. The company aims to achieve organic sales growth and improved margins as part of its 2027 strategy.
As part of its strategy, Hain Celestial plans to invest in brand building, channel expansion, and innovation. It also plans to focus on the foodservice and convenience channels, along with gaining incremental distribution in colleges, universities, and the travel segment.
The company remains focused on achieving growth and efficiencies, with a view toward reaching its goals in the latter part of the fiscal year. Overall, Hain Celestial anticipates progress across the business as it continues to invest in its strategy.
