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Subject:
FOOD BUSINESS NEWS
Period: June 13, 2021 to June 20, 2021
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  

Farm Girl Updates Its Range Of Keto-Friendly Breakfast Cereals

The low-carb, gluten-free nut-based cereals and granolas from the online health food retailer (Ontario, Canada) are suitable for diabetic consumers and those on a keto or low-sugar diet. Ketocrunch Salted Caramel (170 cals. per serving), for example, is a nut-based cereal containing almonds, walnuts, seeds, brazil nuts, coconut flakes, and extra fiber. Other options include Caramel Apple Spice, Chocolate, Cinnamon Maple, and Brown Butter nut-based cereals. Customers who prefer porridge for breakfast can choose the Chocolate Nut Crunch or Strawberries & Cream Porridge, Farm Girl's instant hot cereals. All are available on the company website.

"Keto Low-Carb Cereal - Protein/Prebiotic Diabetic-Friendly Granola Launched", Marketers Media, June 15, 2021

Snacks Increasingly Cater To Followers Of All Types Of Diets

Data from SPINS and New Hope Network show that any of the popular diets – gluten-free, vegan, keto, paleo, etc. – have corresponding snacks. Diet-specific snacks aren’t a new phenomenon, but a couple of “overwhelming and overlapping trends” are driving their growth. Label claims such as gluten-free, organic, non-GMO and vegan are driving sales, along with cleaner labels that highlight allergen-free and high protein ingredients. Consumers also are seeking products that are free from artificial sweeteners and colors and offer unusual flavors. Among the players: Earnest Eats (snacking avocados); Rind Snacks, (crispy thin-cut fruit chips with the peel on); Elma Farms (steamed and marinaded asparagus snacks); and New York-based Union (crunchy charcuterie chips in genoa, sopressata, and chorizo varieties that promote regenerative sourcing).

"Label claims, global flavors drive snacking trends", Food Business News, June 07, 2021

Consumers  

Indian Consumers Increasingly Demand Clean-Label Snacks

“No additives or preservatives” is a number one claim associated with clean-label snacks in India. Clean-label snacks have grown from 11 percent of total snack launches in the 12 months to January 2017, to 19 percent between February 2020 and January 2021, according to Mintel. Moreover, as products with “free-from” claims on packages raise consumer awareness about specific ingredients to avoid, the demand for such formulations is likely will rise. Prior to the pandemic, hunger and energy were the key drivers of snacking, but not anymore. Today it's the search for comfort, stress-reduction, health benefits, and clean ingredients that moves consumers. The study conducted among 3,000 Indian adults shows how brands can emphasize naturalness and no “nasties” as a means to justify snacking and remove guilt.

"Demand spikes for 'clean-label' snacks", The Times of India, June 07, 2021

Finance, Economics, Tax  

Opopop Raises $5M In First Funding Round

The Denver-based microwave popcorn startup raised the cash in a Series A funding round led by Valor Siren Ventures ahead of the official product launch on June 7.  This brings Opopop’s total funding to $11.6 million. The company is launching a direct-to-consumer microwavable popcorn called Flavor Wrapped Popcorn Kernels, made using a technology that wraps each kernel in flavoring before popping. The snacks will be available in Salted Umami, Fancy Butter, Chedapeno, Maui Heat, Cinnaliciou,s and Vanilla Cake Pop flavors. Other investors in the round included Peter Rahal, founder of RXBAR and Litani Ventures; Batsh Crazy Ventures; DJ and music producer Tiësto; and director Jimmy Chin.

"Microwave popcorn startup Opopop raises $5M ahead of product launch", Food Dive, June 03, 2021

Market News  

Chinese Snack Company’s IPO Underscores The Country’s Growing Demand For Snacks

The IPO filing by Henan-based spicy snack maker Weilong Delicious Global Holdings is a clear indicator of how important snacks have become in the Chinese food industry. Weilong, whose products include chili pepper-coated bread sticks, reported 2020 profit of $126 million on revenue of $642 billion. Innovation in Chinese snacks is also lively and competitive as companies strive to develop new combinations of flavors, including spicy, salty, sweet, sour, fishy, fruity, and liquor-laced. The snack segment in China is expected to grow an average of 5.7 percent a year in the next four years to 453 billion yuan ($71 billion). 

"There's no accounting for taste, but snack makers try to feed it", Shine.cn, June 08, 2021

Keo Snack Maker CanDo Focuses on Expanding Its Retail Footprint

The Los Angeles-based maker of Keto Krisp low-carb, low-sugar keto bars is using the cash raised in a recent funding round to boost retail distribution. With that in mind, the company hired former RXBAR chief supply chain officer Tom Melcher, as its chief operating officer. The company, whose recent year-on-year growth topped 600 percent growth, says its Keto Krisp snack is the top selling bar in Whole Foods, the No. 2-selling Bar in Sprouts, the No. 1 selling keto bar in Wegmans, Publix and Fresh Market, and the No. 1-rated keto bar on Amazon. The company will soon add a thousand Walmart stores to its distribution network. Keto Krisp's line includes Almond Butter Chocolate Chip, Almond Butter, Chocolate Mint, Chocolate Raspberry, and Plant-Based Almond Butter Blackberry.

"Following 600 percent YoY Growth, Keto Krisp by CanDo Expands National Retail Footprint, Closes Round of Fundraising", PR Newswire, June 02, 2021

Products & Brands  

Pipsnacks Founders Remain Focused On Salty Corn Snacks – For Now

The co-founder of the Brooklyn, N.Y., maker of Pipcorn puffed cheese snacks and crackers says new product development is still focused on bagged salty corn-based snacks. Jennifer Martin says “the sky’s the limit” when it comes to high-quality corn-based salty snacks, mainly because many classic nostalgic snacks – made with GMOs and artificial ingredients – could be replicated “in a natural way.” But in the long term the company has a lot of other ideas, completely outside of salty snacks, that focus on a high-quality corn ingredient. And, Martin notes, that there are other seeds, ancient grains perhaps, that are worth looking at. “We’re not tied to corn,” she says. “We’re corn today, but there’s definitely an opportunity to grow outside of corn in the future.”

"The past, present and future of Pipsnacks", The Baking Business, June 08, 2021

Brewer, Snack Maker Launch “Better Together” Ad Campaign

Pennsylvania-based Tröegs Independent Brewing and Unique Snacks have partnered to create a “Better Together” fall campaign that pairs craft beers with signature pretzels. The selected pairings offer consumers “a celebration of local grains and distinctive flavors” that commemorate Pennsylvania’s agricultural history. The two companies worked together tasting numerous combinations of beer and snacks to identify the best pairings. (e.g., Lucky Holler Hazy IPA with Sourdough Craft Beer Pretzel Rings). Better Together will be available in states that allow for food and alcohol promotions in the Northeast, Midwest and South regions of the U.S. and will run from August 30 through October 31. The pairings, including a couple of unexpected twists, are:

"Tröegs Independent Brewing and Unique Snacks Announce Better Together Fall Campaign", Brewbound, June 03, 2021

Trends  

Snacking Is Evolving, Thanks To A Number Of Key Trends

Snacks and snacking have been around for a long time. But since the rise of the pandemic, snacking is morphing into something new and different, for a variety of reasons, according to industry experts: snacking is more frequent and more regular; time pressures have upended traditional meal rituals; there is a growing diversity of and accessibility of cuisines and foods; a growing interest in eating a healthy balanced diet; an Increased interest in foods that promise health benefits, such as protein-rich snacks; the rise of the “conscious indulgence” movement that favors indulgent but also nutrient-rich treats; and a growing demand for snacks featuring plant-based proteins.

"Snacking trends and beyond", BakeryAndSnacks.com, June 08, 2021

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