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

In this month’s Category Closeup Condiments: Expert Analysis, we’ll hear from a group of industry leaders about the tactics, trends, and efforts successful condiment brands must embrace. We’ll explore both the unique dynamics of the set, as well as the opportunities for growth and innovation.

On its first quarterly earnings call since going public last month, Stryve Foods reported net sales were up 71.8% to $7.4 million for the quarter and gross profits of $3.6 million in the second quarter, an increase of 148.3%. The company also discussed its ecommerce strategy, its plans to reach Hispanic shoppers and why it decided to enter the nutrition category.

Alongside healthcare, financial services and software companies, dozens of food and beverage brands were ranked on Inc.’s annual 5000 list of the fastest-growing privately-held companies in the United States. Released today, the 2021 list features an array of companies with a direct-to-consumer focus, highlighting the pandemic’s lasting impact on consumer shopping habits.

This week we’re joined by Teresa Tsou and Jeff Martin, co-founders of Pipsnacks, which markets classic salty snacks made with a base of heirloom corn. The pair spoke about the brand’s unique positioning, how they navigated a tumultuous funding round and a key partnership that has boosted its innovation strategy.

Over the past several weeks, plant-based brands have seen distribution gains with Wholly Veggie and Daring Foods joining the shelves of Whole Foods Markets and Impossible launching its new sausage line in retail.

Oatly announced today Q2 revenue of $146.2 million, up 53.3% year-over-year in its first earnings report as a public company.

In this week’s Checkout, Miyoko’s is victorious in its California labeling lawsuit; Mizkan America acquires Born Simple; Coconut Secret announces its sale to Nutiva; and CPG veterans launch a free mentorship program for entrepreneurs.

In an email to customers yesterday distributor UNFI announced that it would shift its Winter Natural Show to a virtual-only format. Mondelez’s investment and innovation group SnackFutures also cancelled a planned showcase for the brands taking part in its accelerator program.

Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management, a research firm focused on short selling, released a 124-page document claiming that the company had misrepresented its success and “will never achieve… Read more »

Citing increasing demand for oatmilk in retail and foodservice, plant-based milk producers Oatly and SunOpta are ramping up production, with both companies announcing plans for new facilities in Texas set to open over the next few years.

Episode 40 of Elevator Talk features leaders from Undressed Snacks, Sorate, The After Bar, Yishi and Lovely Day Bars. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates.

In a webinar last week, Sally Lyons Wyatt, EVP, Client Insights at IRI, Christine Boule, Principal, Client Insights at IRI and Alison Bodor, president and CEO of the American Frozen Food Institute, delved into the growing frozen food segment and identified ways brands can navigate the category to win in retail. IRI also dug into how brands can capitalize on growth in the plant-based meat space and what consumers are looking for in meat alternatives going forward in another webinar earlier this week led by Anne-Marie Roerink, president at 210 Analytics and Jonna Parker, Principal IRI Fresh.

Earlier today, The Specialty Food Association (SFA) cancelled the in-person trade show portion of the Fancy Food Show 2021. Meanwhile, New Hope, and its parent company Informa, announced new Covid-19 related protocols for Natural Products Expo East in response to feedback from attendees and to comply with new health department regulations.

Fresh off its IPO, meat snack company Stryve Foods is already making moves to enter new categories. While the company previously indicated it planned to first enter adjacent salty snack categories such as crackers and chips, it has instead turned its attention to the supplement set, launching new protein powders with a new line called Stryve Nutrition.