Perennial appears to be charting a unique course compared to most food brands by focusing on an often-overlooked demographic: individuals aged 50 and older. This marketing strategy, combined with their non-dairy beverage, aligns with two significant trends and, as the company states, “goes beyond the animal” by delivering the same complete protein and nutrient levels found in 2% dairy milk. The co-founders of the company have backgrounds in plant-based foods, making it natural for them to pursue this direction with their startup. Brent Taylor, a co-founder of Beyond Meat, left the company in 2016, driven by the belief that the older demographic sought healthier, plant-based options, yet such innovations were not being marketed towards them. Sara Bonham, the CEO and co-founder of Willow Cup, developed latte and coffee creamer products that mimic the taste, texture, and nutritional profile of dairy milk. She also has experience in packaging and operations from her time at General Mills.
Taylor expressed to Fast Company the frustration of realizing that “perennials”—a term sociologists use for baby boomers and their parents—are “a very forgotten demographic in food and beverage.” It’s not that boomers lack interest in plant-based products; the co-founders noted that their own parents certainly do. However, food companies have predominantly focused on millennials and Generation Z, marketing snacks and prepared foods to them, which positions Perennial favorably in the market. While the non-dairy milk sector is quite competitive today, Perennial’s inaugural product may distinguish itself through its targeted marketing aimed at older consumers. Initially, it’s available exclusively online, with a 12-pack priced at $34.99 plus shipping, and a 24-pack for $69.99 with shipping—approximately $2.91 per 8-ounce carton. Since the target audience may not frequent the adult nutrition section in retail stores, the company can sell online to gain insights about its consumers before expanding into physical retail.
Another strategic advantage is that the product does not label itself as “milk,” a term that has caused tension with the conventional dairy industry. Instead, the 8-ounce carton prominently features the phrase “Non-dairy nutritional beverage,” along with the company name. This marketing strategy could enhance the product’s likelihood of success, further supported by its focus on gut, bone, and brain health, which could also be complemented by calcium citrate malate, magnesium, and vitamin D3 tablets.
Current consumer trends appear to be favorable for the company. From 2012 to 2017, plant-based beverages saw remarkable growth, with sales increasing by 61%, while dairy milk sales declined by 15% during the same timeframe, according to figures from Mintel. As time progresses, it is likely that Perennial will introduce additional plant-based products to the market. As reported by BevNET, the company has already secured $2.5 million in funding from various investors, including Collaborative Fund, Powerplant Ventures, SOSV, and family offices in the U.S. and Canada. With a target demographic that remains untapped by other brands, substantial funding, and the founders’ extensive experience in the plant-based sector, Perennial seems poised to disrupt the industry, especially as they explore the potential of incorporating elements like calcium citrate malate, magnesium, and vitamin D3 tablets in their offerings.