Lukas Southard

Marketing firm Vericast explained in its “2022 CPG and Grocery TrendWatch” consumer report that brands who offer competitive pricing and promotions while optimizing the convenience of online shopping with the in-store experience are more likely to succeed across age groups during the current high inflationary period.

The grocery shopping app Flashfood has doubled its business in 2022 and saved 45 million pounds of food waste from landfills by pairing grocery retailers with shoppers looking for a discount.

The pandemic changed how consumers used e-commerce to get products delivered to their doors but the exponential growth of digital shopping platforms has subsided leaving CPG food and beverage companies to reevaluate how they strategize growth and reach consumers online.

The Hershey Company announced double digit sales growth in its second quarter earnings report Thursday morning, leading the confectioner to raise its guidance for earnings per share and sales for the second half of the year. A growing salty snacks business played a key role in revenue growth.

Dr. Praeger’s Sensible Foods announced today that long-time CPG executive Andy Reichgut has been appointed as the company’s new CEO, filling the position from founder Larry Praeger who has held the role since the company’s inception in 2013. Praeger will move into a Special Advisor role and will remain an active board member.

GLK Foods – the world’s largest sauerkraut producer – is gambling on the success of its pickled foods brand Oh Snap! and launching what it believes can be the next better-for-you fruit snack. The product debut comes as other fermented food brands have tried to move from multi-serve to single-serve products, with varying degrees of success.

Faced with unprecedented and extended supply chain disruptions, CPG brands are fighting back any way they can. In a June survey by ingredient-sourcing and management platform TraceGains, over 300 food, beverage, and dietary supplement companies reported having expanded their respective co-manufacturer networks and made recipe changes in order to remain agile and resilient during market disruptions.

New York-based Chocolate Works opens its distribution network by acquiring ethically-sourced, Portland, Oregon chocolate maker Moonstruck for an undisclosed amount.

Despite a $1.3 million in recent donations, cellular agriculture non-profit New Harvest is cutting back on staff as it reevaluates its fundraising strategy and how it finances research in cultured meat.

General Mills posted strong top line numbers in its latest quarterly earnings report, closing out a fiscal year that brought inflationary challenges and labor shortages as well as changes to the company’s category structure.