Annual report and accounts 2023 - Flipbook - Page 16
A.G. BARR p.l.c. Annual Report and Accounts 2023
Chief Executive’s review continued
Plant-based milk market
The value of the total plant-based milk market fell by
1.4% in the year to September 2022, driven largely by a
decline in soya, nut and coconut milks. In contrast, oat
milk continues to grow, up 13.3% to £166m in the same
period. One in five UK households now purchases oat
milk, with 750,000 more households adding it to their
shopping baskets in the last 12 months.
As a challenger oat milk brand, the MOMA business has
had a particularly strong year, growing by 41% on a year
on year basis, well ahead of the category, driven by
increased sales of its ambient range and distribution
gains for its new chilled range that launched in the
Spring of 2022.
(Sources: Kantar UK Market 52 weeks ending 04/09/2022; Kantar
UK Household Penetration 52 weeks ending 02/10/2022)
Connecting with consumers
a pipeline of great tasting, innovative new products to
market, in new pack formats which unlock new drinker
occasions. More traditional media channels of TV,
print and outdoor remain an important part of our
marketing mix.
The connection we make with consumers is central
to our strategy. Over the past 12 months we have
continued to invest in a wide range of consumer
marketing, promotion and communication
programmes across our business units and brands.
The acceleration of the investment in our portfolio
demonstrates the importance we place on supporting
the long-term development of our core brands. In
March 2022 we launched our new IRN-BRU “Taste
Debate” campaign on TV, digital and social media to
ensure our biggest brand remains fun, fresh and
relevant. We also invested in FUNKIN, which launched
its biggest ever brand investment with the highly
successful “It’s FUNKIN Time” campaign which ran
throughout the key trading periods of summer and
Christmas. The FUNKIN brand has significantly
increased its brand awareness to 45% within the 18-34
year old cohort (Source: Kantar January 2023).
With a growing consumer base, covering a broad
demographic and geographic spread, we have evolved
our engagement approach considerably over recent
years. Social and digital media play an increasingly
important role, as does our commitment to bringing
MOMA’s award-winning oat milk has high growth
potential and we have invested in its first ever above
the line advertising campaign, which appeared on
screens at the start of September across TV, outdoor
and digital/social channels. The advert highlights how
MOMA is perfectly crafted for both expert and home
coffee creations, as “The Barista’s Choice”.
Sponsorship remains an effective and exciting
engagement tool and is a key focus for our Rubicon
RAW Energy brand, supporting its brand positioning
as “A Force of Nature” in the great outdoors. Part of a
multimillion pound marketing campaign, the brand
sponsored the Boardmasters Festival in Cornwall in
August 2022 and we are also pleased to have
announced the brand’s four year partnership as the
official energy drink of GB Snowsport.
Our recent addition to the brand portfolio, Boost, has
fostered a strong consumer connection through its
sponsorship of Leeds United Football Club. We are
excited to be a part of this successful partnership and
look forward to building the brand’s awareness in the
year ahead.
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