EPISODE · Aug 10, 2023 · 14 MIN
Premier Protein Becomes Top Selling Convenient Nutrition Brand | BellRing Brands 2023 Q3 Update
from the Joshua Schall Audio Experience · host Joshua Schall
After another insanely positive quarterly performance, Premier Protein is now the number one brand in convenient nutrition, but it’s a recent “under the radar” partnership announcement that has me thinking about a previous crazy prediction I made in early 2021. BellRing Brands (NYSE: BRBR) is a portfolio that owns a collection of convenient nutrition brands like Premier Protein, Dymatize Nutrition, Powerbar, and Joint Juice, which was previously wholly-owned by Post Holdings. A fast-paced and busy lifestyle is pushing consumers to switch to quick and healthy meal options. This has resulted in above average categorical growth rates and increased household penetration of RTD protein shakes that promote active lifestyles. Bellring Brands had a strong Q3 with net sales reaching $445.9 million, which was up 20.3% YoY. Premier Protein (~80% of BellRing Brands total revenue) grew 19.9% YoY, which came from almost equal growth in volume and price. Dymatize Nutrition was up 32.3% YoY stemming from large volume increases. Moreover, I provide two deep dives into the functional CPG portfolio's "hero SKU families" of Premier Protein RTD protein shakes and Dymatize whey protein powders. I also explain why a recent expansion of the co-manufacturing network announcement with SunOpta should have you believing in my $2 billion prediction for Premier Protein. But you might be thinking...why is this important and how does a billion-dollar plus RTD shake product line, that’s already the market leader, grow 100s of millions more each year to reach $2 billion in 2025? Few points to make here: (1) this additional manufacturing capacity helps them keep their full lineup of flavors on shelves…and more skus per store and larger TDPs generally equal higher sales. (2) delivering products more efficiently will create cost savings that can be reallocated back into growth activities like marketing. (3) the additional capacity will speed up company backstock replenishment again…which gives the sales and marketing teams more confidence to get aggressive on growth activities that increase velocity in the short-term. Finally, more manufacturing capacity allows for innovation aggressiveness when format would the same as top-sellers. What I mean by that is…if Premier Protein had a new plant-based protein innovation they believe is a winner, but no capacity for its already winning proven products…they would be gun shy on launching that. So, as you can see…there’s A LOT more upside in the brand! FOLLOW ME ON MY SOCIAL MEDIA ACCOUNTS LINKEDIN - https://www.linkedin.com/in/joshuaschallmba TWITTER - https://www.twitter.com/joshua_schall INSTAGRAM - https://www.instagram.com/joshua_schall FACEBOOK - https://www.facebook.com/jschallconsulting
What this episode covers
After another insanely positive quarterly performance, Premier Protein is now the number one brand in convenient nutrition, but it’s a recent “under the radar” partnership announcement that has me thinking about a previous crazy prediction I made in early 2021. BellRing Brands (NYSE: BRBR) is a portfolio that owns a collection of convenient nutrition brands like Premier Protein, Dymatize Nutrition, Powerbar, and Joint Juice, which was previously wholly-owned by Post Holdings. A fast-paced and busy lifestyle is pushing consumers to switch to quick and healthy meal options. This has resulted in above average categorical growth rates and increased household penetration of RTD protein shakes that promote active lifestyles. Bellring Brands had a strong Q3 with net sales reaching $445.9 million, which was up 20.3% YoY. Premier Protein (~80% of BellRing Brands total revenue) grew 19.9% YoY, which came from almost equal growth in volume and price. Dymatize Nutrition was up 32.3% YoY stemming from large volume increases. Moreover, I provide two deep dives into the functional CPG portfolio's "hero SKU families" of Premier Protein RTD protein shakes and Dymatize whey protein powders. I also explain why a recent expansion of the co-manufacturing network announcement with SunOpta should have you believing in my $2 billion prediction for Premier Protein. But you might be thinking...why is this important and how does a billion-dollar plus RTD shake product line, that’s already the market leader, grow 100s of millions more each year to reach $2 billion in 2025? Few points to make here: (1) this additional manufacturing capacity helps them keep their full lineup of flavors on shelves…and more skus per store and larger TDPs generally equal higher sales. (2) delivering products more efficiently will create cost savings that can be reallocated back into growth activities like marketing. (3) the additional capacity will speed up company backstock replenishment again…which gives the sales and marketing teams more confidence to get aggressive on growth activities that increase velocity in the short-term. Finally, more manufacturing capacity allows for innovation aggressiveness when format would the same as top-sellers. What I mean by that is…if Premier Protein had a new plant-based protein innovation they believe is a winner, but no capacity for its already winning proven products…they would be gun shy on launching that. So, as you can see…there’s A LOT more upside in the brand! FOLLOW ME ON MY SOCIAL MEDIA ACCOUNTS LINKEDIN - https://www.linkedin.com/in/joshuaschallmba TWITTER - https://www.twitter.com/joshua_schall INSTAGRAM - https://www.instagram.com/joshua_schall FACEBOOK - https://www.facebook.com/jschallconsulting
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Premier Protein Becomes Top Selling Convenient Nutrition Brand | BellRing Brands 2023 Q3 Update
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