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Subject:
FOOD BUSINESS NEWS
Period: October 11, 2020 to October 18, 2020
Geographies:
Worldwide
Categories:
Comment & Opinion or Companies, Organizations or Consumers or Controversies & Disputes or Deals, M&A, JVs, Licensing or Earnings Release or Finance, Economics, Tax or Innovation & New Ideas or Legal, Legislation, Regulation, Policy or Market News or Marketing & Advertising or Other or People & Personalities or Press Release or Products & Brands or Research, Studies, Advice or Supply Chain or Trends
Contents
 
Companies, Organizations  

Good To Go Launches Savory Nut & Seed Bites

Available across Canada this fall in four flavors, the Toronto-based company’s organic, keto-friendly Savory Bites contain an assortment of nuts and “super seeds,” including sunflower, pumpkin, hemp, and chia. Available in Zesty Pecan, Almond & Sea Salt, Herb & Garlic, and Everything flavors, the Bites contain no added sugar, 130-140 calories, 11-12 grams of plant-based fat, and 3-4 grams of net carbs per 25-gram serving. SRP is $6.49 CAD ($4.95).

"Good To Go Launches Savory Nut & Seed Bites Across Canada", Globe Newswire, October 13, 2020

Love Good Fats Raises Nearly $11M In Funding Round

The Canadian maker of low-sugar, keto-certified, non-GMO snacks made with fats from nut butters and coconut oil has secured a $10.7 million investment led by InvestEco Capital Corp. and Export Development Canada to “help accelerate the company's already rapid growth in North America.” The three-year-old firm sees its products as alternatives to the traditional high sugar, high simple carbohydrate snacks. The product line includes dark chocolate-coated and plant-based Truffle bars, White Chocolate Trufflebars, Chewy-Nuttybars, and shakes. Keto-friendly products have 4-5 grams of net carbs and are gluten-free, soy-free, non-GMO, contain no artificial preservatives or sugar alcohols. They are available at Walmart, Whole Foods Market, Sprouts, Kroger, CVS Pharmacy, and Costco.

"Love Good Fats Fueling Up to Share More Love!", PR Newswire, October 13, 2020

Lori's Potato Chips Finds Winning Recipe For THC-Spiked Snacks

It wasn’t long after recreational cannabis was legalized in Washington State in 2012 that consumers began to look for alternatives to smoking pot. They turned to THC-infused edibles, a trend that proved to be a shot-in-the-arm for companies selling sugar-based items like gummies and hard candy. Seattle-based Craft Elixirs, which began by making pot-infused syrups, introduced a potato chip line in 2018, but it didn’t catch on. A reformulation and re-introduction finally got the brand – Lori’s Potato Chips – on track. The new lineup includes Roasted Garlic Chips fried in THC-infused olive oil and a Sweet Potato Chip seasoned with cinnamon, brown sugar, and sea salt. All are vegan, kosher, and made with organic potatoes. One of the benefits of the chips is that they offer THC newbies the option of micro-dosing. A single $7 bag contains 10 milligrams of THC, with roughly 15 chips per bag. Needless to say, demand for all Craft Elixirs products has increased since the pandemic hit.

"These THC-Infused Edibles Are So Hot Right Now", Forbes Media, October 12, 2020

Traditional Indian Sweets Are Reincarnated As Healthful Snack Balls

The traditional spherical Indian sweet known as laddu, often a blend of sesame seeds and dried fruits, has been rejuvenated in the country as snacks and marketed as energy balls, nutri balls, bliss balls, and protein balls. Offered by many chefs and eateries, the new versions can take the form of wheat balls and coconut balls with amaranth seeds. Others are made with different kinds of cereals or millets and contain a mixture of dried berries and nuts. Still others, like peanut jaggery (sugar) balls and sesame jaggery balls, contain seeds like flax, amaranth, sunflower, watermelon, and pumpkin. Versions rich in protein are catching on among workout enthusiasts at gyms.

"How snack balls have become trendy alternatives to junk food to munch on", The Hindu, October 08, 2020

Consumers  

Pretzel Sales Benefit From Pandemic Shopping Trends, But Also From Healthy Halo

Market data from industry researcher IRI confirm the huge impact the coronavirus has had on stay-at-home snacking generally, and surprisingly on pretzels, which trailed some other snack categories in previous years. Heading into 2020, dollar sales of pretzels grew as volumes declined, mainly because of price increases. That trend was altered heading into May 2020, however, with dollar sales growing 20 percent. IRI projects that the category will grow 13 percent in the remainder of the year. After a lot of stockpiling, consumers are no longer facing shortages, and have added pretzels – soft and hard, large and bite-size – into their snacking mix as a more healthful alternative. Opportunities to keep pretzel sales growing beyond the pandemic may lie in that perceived healthier halo, IRI says. 

"Consumers have renewed interest in soft and hard pretzels", Supermarket Perimeter, October 13, 2020

Deals, M&A, JVs, Licensing  

Soy Sauce Maker Kikkoman Works With Coca-Cola To Create Dashi-Based Beverage

Coca-Cola Japan and Kikkoman have partnered to deliver a ready-to-drink dashi-based beverage served in a can. Dashi is a cooking stock used in Japanese dishes like noodles and the savory pancakes known as okonomiyaki. Go: Good Mmm! Delicious Japanese Dashi is basically a canned serving of dashi, whose recipe was developed by Japanese food manufacturer Kikkoman. It contains bonito, kelp, and flying fish extract to deliver an umami-flavored beverage. The drink, which can be enjoyed hot or at room temperature, will be released with a re-release of its predecessors in the Go: Good line: canned corn potage, shrimp bisque, and minestrone soup drinks. 

"Coca-Cola and Kikkoman team up for canned 'dashi' drink", Japan Today, October 11, 2020

Finance, Economics, Tax  

Thai Beverage Plans $32M Expansion

The Singapore-listed food and beverage company is expanding its food business in the domestic market by spending $32 million to upgrade efficiency and productivity and to introduce the company's food brands to a wider base of customers. The new investment is mostly to open 40-50 new restaurants this year, compared with 29 stores in the previous fiscal year. In addition to new stores, the company plans to develop new digital technology for innovative offerings to improve the customer experience. According to a market researcher, Thailand's overall food business is estimated at $12.5 million in 2020, a rise of 9.7-10.6 percent from 2019. 

"Thai Beverage begins B1bn expansion", Bangkok Post , October 14, 2020

Innovation & New Ideas  

Wasatch Product Development Expands Packaging Line To Include Peanut Processing

The Draper, Utah-based contract manufacturer of packaging solutions for various industries says the new capabilities include peanut processing for tear-top and spouted-pouch flexible packaging. The capability enables the company to meet the growing market need for healthy fat, healthy protein formulations using peanuts, almonds, and other tree nuts. The company says it has seen rapidly increasing demand from customers and their retail partners such as Amazon, Walmart, Costco, and Sam's Club for nut butters and formulations with nut-based ingredients.

"Wasatch Launches Peanut Processing Capability in Flexible Packaging", PR Web, October 09, 2020

Market News  

Innovfood’s Nutrixin Rebrands To Emphasize Its Nutraceutical Character

The 2019 Singapore-based immunity product, apple peel essence, was relaunched to strengthen its association to nutraceuticals and downplay it as a fruit juice. In addition, the company rolled out two more functional beverages with cognitive and digestive functions. The company said apple peel essence was unveiled in “an attractive and artistic packaging” that unfortunately “gave the wrong impression to consumers who associated our brand to apple juice.” The product, however, is a nutraceutical containing five times the polyphenol and 100 times more quercetin found in apples. The two new beverages are grape peel essence for metabolic and cognitive functions and orange peel essence for digestive and immunity benefits.

"Triple ap-peel: Singapore’s Nutrixin expands functional beverage range for cognitive, immunity and digestive health", Food Navigator USA, October 13, 2020

Marketing & Advertising  

Utz Brands Names The Sasha Group As Marketing Agency

The Hanover, Pa.-based salty snack maker wants the agency to “elevate” its marketing efforts and accelerate a shift toward “digital-first, innovative, and disruptive consumer marketing.” New York-based Sasha Group, a full-service agency within the VaynerX family of media companies, is tasked with executing Utz’s new growth model by “delivering numerous consumer-led ideas, shaped by listening, and personalized across a broad spectrum of audience cohorts.” The business was awarded to Sasha following a competitive review. The work will be led by The Sasha Group South based in Chattanooga, Tenn., and is expected to launch in November.

"Utz Brands Appoints the Sasha Group as Agency of Record", Business Wire, October 13, 2020

People & Personalities  

Reorganization Initiative Touches Coca-Cola India Businesses

Coca-Cola’s wide-ranging reorganization initiative recently touched its Coca-Cola India, South West Asia operations, including its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd. Along with a flurry of middle management shuffling, the company appointed Neeraj Garg, president of the West Africa Business Unit, as the CEO of Hindustan Coca-Cola Beverages (HCCB), replacing Christina Ruggiero as of January 1.  Ruggiero was appointed president of Central Operations, North America Operating Unit. 

"Neeraj Garg appointed new CEO of Hindustan Coca-Cola Beverages", The Hindu Business Line, October 10, 2020

Products & Brands  

U.K. Start-Up Small Giants Unveils Snack Crackers Made With Cricket Flour

The London-based snack maker says its bite-sized savory crackers made with cricket flour are on a mission: to promote insects as a sustainable source of protein. The crackers are made with 15 percent cricket flour, which delivers an umami flavor, high protein content, and immune-supporting vitamin B12. Each 40-gram pack of crackers contains nine grams of protein, five grams of fat, are “a source of fiber,” and contain no added sugar. The oven-baked crackers are available in tomato and oregano, turmeric and smoked paprika, and rosemary and thyme flavors. The brand launched in the U.K. under a different name a year ago after raising £150,000 ($195,200) in investment, then recently rebranded. Small Giants will be distributed by Tree of Life in the U.K. distribution and are available direct on its website and on Amazon for an RRP of £1.50 ($1.95).

"Small Giants debuts trio of insect-based crackers in U.K.", Foodbev Media , October 09, 2020

ZENB Introduces Plant-Based Savory Snack With Fruit, Nuts, Spices

The British snack maker with an office in Chicago says its ZENB bites, containing a blend of fruits, nuts and spices are available in carrot, pumpkin, beetroot, red pepper, and sweet potato flavors. Key benefits of the snacks, according to the company, include resealable packages, organic ingredients, vegan-friendly, gluten-free, a source of fiber, and free of artificial flavors and preservatives. The name of the company was Inspired by the concept of “zenbu,” a Japanese phrase for whole. The company uses as much of the whole vegetable as possible, including parts often thrown away such as the seeds, stem, skin and peel, helping to raise awareness of food waste. Prices start from £3.00 ($3.90) RRP per pouch and are available in packs of five or 15 individual or mixed-flavor pouches. Subscriptions are available for different pack sizes and discounts.

"There’s a new veg-based snack on the scene this Autumn and here’s everything you need to know…", Food & Living Vegan, October 08, 2020

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