News

Convenience channel growth decelerated to 1.7% in the first quarter of the year, underperforming all other retail channels, according to market research firm IRI’s “The Convenience Store Landscape Q1 2022” report released this week.

Frozen entree brand Afia announced it will add 250 points of distribution for its frozen falafel products after landing partnerships with Harris Teeter and Giant Landover in May. The launch, which includes the falafel line’s 9 oz. Traditional and Garlic & Herb varieties, will bring the brand’s footprint to more than 2,000 stores nationwide, doubling its store count.

Meat snack brand Stryve has added CPG executive Christopher Boever as CEO, replacing co-founder Joe Oblas, who will transition to Chief Growth Officer. The news, which was announced last week, comes as the now publicly traded company tries to deepen its hold in the meat snack category, further build out a sub brand and fight back against rising ingredient and operations costs.

Despite multiple rejected attempts, Virginia-based alt-sweetener startup Bonumose will keep working to “compel and convince” the FDA to reconsider a regulation that mandates that its proprietary alt-sweetener, tagatose, be labeled under ​​total or added sugar counts on Nutrition Facts Panels (NFPs), said the company’s CEO Ed Rogers.

The Tory Burch Foundation announced this month its newest cohort of 50 fellows for 2022, eight of whom are female entrepreneurs in the food and beverage CPG industry.

Holding company and incubator Redbud Brands announced yesterday it has raised $46 million to create, fund and scale its portfolio of consumer businesses.

Investments in packaged food and beverage companies have been focused on the same areas for the past few years, with perhaps an increasing focus on alternative protein sources as well as social impact (excluding the impact of the pandemic on dining at home and home delivery).

This week’s new food launches saw brands creating new flavors of protein-packed ice cream, launching vibrant new plant-based pasta varieties and spicing up the popcorn category. Check out this gallery for new items from Beyond the Equator and ALOHA as well as the latest innovation in the Sprout Organics x Cocomelon line.

On this month’s Market Share, we’ll hear from Amplify chief commercial officer Kyle Banahan about how having a unified voice and a singular goal is helping the snack-centered group move forward more efficiently and propelling it’s parent company Hershey deeper into snacking.

A look at some of the new products announced at the 2022 Sweets and Snacks Expo, the three-day event in Chicago hosted by the National Confectioners Association. A number of companies launched products that satisfy the craving for a better-for-the-family salty or sweet treat with less added sugar.