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

Sales and marketing agency Acosta released a study last week that found that almost a quarter of online grocery shoppers in the U.S. believe they will increasingly use e-commerce platforms to purchase groceries over the next year. According to the survey results, which includes 1,447 respondents from Acosta’s proprietary Shopper Community located across the country, the majority of respondents cited convenience as the primary factor driving the adoption of online grocery.

Dairy alternative ingredient supplier Perfect Day announced on Tuesday it has entered the sports nutrition category with the launch of two new lines of protein powders that feature the company’s animal-free whey as the star ingredient.

Plant-based meat brand Tofurky has joined efforts with the Plant Based Food Association (PBFA) to take on an Oklahoma meat alternative labeling law that went into effect last year. Last week, Tofurky became the latest producer to challenge the law, after Upton’s Naturals and the PBFA failed in their initial challenge, which framed the law as a First Amendment violation.

Plant-based food and beverage maker The Planting Hope Company announced yesterday that it has completed a $9 million IPO through the sale of 22.5 million shares (CAD $0.40 each) and will begin trading later this week on the Toronto Stock Exchange under the ticker symbol “MYLK.”

While macaroni and cheese masters Kraft and Annie’s typically market their products to kids and parents, Goodles is aiming to help the pantry staple grow up. Launching today, the new better-for-you mac and cheese brand is offering a protein-packed and adult-friendly take on the classic meal, in part by tapping former talent from the category’s leading players.

David Segal loves tea too much to stay away from the industry. Best known as the co-founder of Canadian loose leaf tea brand DAVIDsTEA, Segal announced today the launch of his latest project, Firebelly Tea, an ecommerce premium tea and accessories brand. Co-founded with Shopify president Harley Finkelstein, Firebelly specializes in high quality teas in sustainable packaging, made without artificial ingredients or flavors.

Platform CPG company Naked Market announced last week it had raised an additional $27.5 million in capital to fund the growth of its slate of food and beverage brands. The company plans to launch a new confection brand in 2022.

Beckon co-founders Gwen Burlingame and Katy Flannery explained how they aligned patented innovation with addressable opportunity to launch their fast-growing brand of lactose-free ice cream, why respect and humility were keys to a successful brand revamp and why the entrepreneurs are encouraging industry professionals to get mad when presented with a shocking statistic.

PlantPlus Foods, a joint venture launched by Archer Daniels Midland (ADM) and Brazilian beef processor Marfrig last year, announced last week it has entered into agreements to acquire two plant-based protein companies: Sol Cuisine and DEW Drink Eat Well, owner of Hilary’s.

Shares of Oatly fell by over 20% earlier today after the Swedish oat milk maker downgraded its revenue growth targets for the rest of this year.

In this week’s Checkout, Misfits Market expands to California and adds dairy offerings; Nature’s Path acquires a majority stake in Anita’s Organic Mill; and FreshRealm launches its first branded meal line.

Condiment brand Dave’s Gourmet announced new leadership and ownership changes this week, selling a majority stake in the company to food platform Gourmerica and bringing on natural food industry veteran David Neuman as its new president.

Coffee and tea makers are gearing up for the winter season with the launch of new functional products featuring mood-boosting and immune-support benefits, as well as a range of limited edition holiday-themed blends.

After reaching record net revenues in the second quarter, plant-based meat maker Beyond Meat faced a more challenging Q3, reporting yesterday that it saw declines across its U.S. retail and foodservice businesses driven by labor shortages, shipping delays and slowing demand.