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Food and beverage industry news.
As Costs Rise, Brands Reconsider D2C; ‘I Think it’s the Beginning of a Trend’
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.
Mondelēz: Consumers Remain Loyal to Brands, Clif Reports Strong Financial Improvement
Mondelēz reported strong top line growth on its Q1 earnings call yesterday. In the first quarter, executives noted, 2022 acquisition Clif Bar showed double-digit revenue growth.
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Kellogg: Spin Off Details Shadowed By DEI Audit Discussion
The Kellogg Company reiterated preliminary details about the company’s future structure during its annual shareowner meeting today, held nearly a year after it first announced plans to divide up the business.
Notable New Products: Tribute Pepper Chocolate Cake & Bridgerton-themed Tea
In this week’s notable new products roundup, Brightland announces the launch of its Pizza Oil, ONE Bar pays homage to a lunchbox favorite with its newest flavor and The Republic of Tea commemorates the premiere of Queen Charlotte: A Bridgerton Story.
News Roundup: Hershey Invests In Social, Environmental Programs; Burcon Makes Bid For Merit
In this week’s roundup: Hershey invests in social, environmental supply chain programs in the Ivory Coast; Burcon makes a bid for Merit Functional Foods; Citibank issues new ESG warnings for beef, soy producers; and layoffs reach Tyson and Utz.
Hershey Q1: Salty Snack Brands Outpace the Category, Confectionery Price Hikes to Come
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.
NOSH Podcast: Scary to Scalable — A Self-Manufacturing Discussion
The NOSH team talk about Oatly’s new online marketing campaign, sesame seeds’ new classification as a “Big 9” allergen, Hershey’s acquisition of two Skinny Pop co-packing facilities and an interview with The Coconut Cult’s Ari Raz about manufacturing decisions.
U.S. Patent Trial and Appeal Board Rules in Favor of Meat Industry and Florida Food Products
Florida Food Products, LLC (“FFP”), one of the world’s largest independent providers of natural ingredients, announced that the United States Patent Trial and Appeal Board (“PTAB”) has ruled in favor of the meat industry and FFP by invalidating an industry player’s attempt to patent how meat companies apply natural curing agents.
Kraft Heinz Enters U.S. Spice Biz In Search of Incremental Sales
Seeking to add $2 billion in incremental sales from North American innovation efforts, Kraft Heinz Company announced plans to enter a new category in the U.S with the stateside launch of Just Spices.
GFI: More Capacity Needed To Grow Fermentation Food Tech
The Good Food Institute’s yearly report on the fermentation-based food industry showed a growing market share in new protein alternatives but a lack of funding and production capacity hampers widespread adoption.