Brad Avery

D2C sales growth is leveling out from its explosive heights and the opportunities for startups in the space have tightened to the point that many are simply giving up.

The Hershey Company set a positive tone for 2023, raising its full year financial outlook after outperforming expectations in its Q1 earnings report today. According to the company, consolidated net sales were up just over 12% in Q1 to $2.9 billion (organic net sales grew 12.2%) while reported net income increased 10.9% to $587.2 million.

U.K.-based Marlow Foods, owner of legacy plant-based meat alternative brand Quorn, announced this week the launch of a new division to begin selling its flagship mycoprotein ingredient to other food and beverage companies.

Winter hibernation may be over, but New York-based startup Folk Revival is taking a cue from the squirrels with its line of hot cereal cups featuring a healthy serving of acorn. Founded in 2021 by CEO David Cantor, Folk Revival is a line of grain-free hot cereal cups made with hemp, nuts, coconut and, its hero ingredient, acorns.

As the market for plant-based seafood outpaces the overall meat alternatives category, The Plant Based Seafood Co. – maker of Mind Blown – is setting sail for national expansion this year with new innovation and a focus on foodservice.

Wonderlab, the maker of plant-based gelato brand Doozy Pots, is shutting down after rising costs of goods and category challenges proved insurmountable.

ConAgra Brands says its strategy towards improving margins is working as the company raised full year 2023 guidance in its Q3 earnings report this morning. The Chicago-based conglomerate updated its organic net sales guidance for the fiscal year from 7% to 7.5% and adjusted operating margin from 15.5% to 15.6%.

The Oregon-based startup, named for the Eliot neighborhood in Portland, announced on its website this month that it made its last production run in January and would continue to sell through its remaining inventory online and in store as it winds operations down.

When Scott and Lori Levine began making homemade protein balls as a healthy snack, they didn’t think they would turn the product into a nationwide brand. But now, with nearly 95 stores across seven states, New York-based startup Scott’s Protein Balls is looking to quickly grow its name and footprint.

Facing a net loss of $15.6 million in Q4 2022 – up 126% year-over-year – plant-based food and powdered drink brand Laird Superfood said it is emphasizing turnaround efforts in the new year during an earnings call this week.