Food Industry News, Insights, and Education for the CPG Community

This week’s roundup of new products saw brands making chef-inspired condiments accessible to everyday consumers, creating plant-based versions of a popular seafood dish and rolling out seed-based granola bars inspired by a favorite cookie variety.

Numerous CPG food & beverage brands have taken to social media this week to announce their selection to participate in 7-Eleven’s 2022 ‘Brands with Heart’ program. For the fourth year, the 7-Eleven, Inc. Brands with Heart campaign will enable brands to enter the c-store retail channel by introducing their products to 7-Eleven, Speedway, and Stripes consumers nationwide.

After a successful pilot test last June, functional food company IQBAR is more than doubling distribution of its vegan nutrition bars in Walmart stores. The product is now available in 4-count multipacks (MSRP $6.97) in three flavors – Banana Nut, Almond Butter Chip, Peanut Butter Chip and Chocolate Sea Salt – in 1,800 Walmart stores nationwide. The bars will be stocked in the “Keto protein bar section” in grocery, IQBAR founder and CEO Will Nitze said.

Plant-based meat maker Meati has added another $150 million to its war chest to expand production capacity and increase accessibility to its mushroom-root alternative meat product. The company had previously raised a total of $127 million and today’s announcement nearly doubles that, bringing its total funding to approximately $277 million to-date.

FreshRealm, a maker of packaged fresh meals for retail partners, announced today it has closed a $200 million capital raise led by an unnamed “global cornerstone institutional investor.”

One month after initiating a recall, Daily Harvest announced it has identified tara flour as the ingredient that caused reported cases of gastrointestinal illness and liver dysfunction in nearly 200 consumers who ate its French Lentil + Leek alt-meat crumble product.

Plant-based protein brand OWYN has secured growth investment from Purchase Capital, an affiliate of its parent company United Nutritional Brands, as well as from Hammock Park Capital LLC and PowerPlant Ventures, the company announced today.

E-commerce focused baby food brand Yumi is taking its first step into brick-and-mortar retail through a national partnership with Target, the company announced today.

Plant-based meat maker Meati is making its retail debut at three Colorado-area Sprouts Farmers Market stores this week as it sets its sights on a national, omni-channel rollout by next year. The brand launched direct-to-consumers in March and also announced it has expanded its foodservice presence to all nine locations of fast casual chain Birdcall today.

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.

This week’s roundup of new products saw a variety of innovative products from several CPG brands, including edible culinary perfume and salad mixes packed in plant-based, fully compostable packaging. Additionally, RIND Snacks and Kiva Confections rolled out limited-time seasonal offerings.

Grain-free baked goods maker Soozy’s is approaching its fifth anniversary with ingredients it believes can help the company achieve more mass appeal. In addition to shifting its positioning, the brand has also expanded its product mix and distribution, in addition to bringing on Grupo Bimbo as a new partner.

As concerns about the economy worry consumers and investors alike, consumer brand investment firm Coefficient Capital and analyst firm The New Consumer have released a mid-year 2022 Consumer Trends report, based on four surveys of more than 3,000 U.S. consumers. Heading into the back half of the year, the report found that a return to… Read more »

The path to creating a successful brand is rarely a straight line. It can have twists and unexpected turns along the way. It is not uncommon to see companies rebrand, reposition and pivot multiple times.