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| Subject: |
FOOD BUSINESS NEWS
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April 24, 2022 to May 1, 2022
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| Geographies: |
Worldwide
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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
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Keto snacks company Catalina Snacks is seeing fast growth and proving that 'keto' has broader consumer appeal beyond low-carb diet followers. Founded in 2017 as a direct-to-consumer brand, Catalina Snacks built up a loyal base of consumers looking for low-carb snacks to fit their dietary needs. It has since grown a more diverse following and attracted consumers without dietary needs but with interest in reducing carbs and sugar. Founder Krishna Kaliannan accredits this to the widespread popularisation of the keto movement that has educated consumers on the harms of eating high-carb and sugar diets. Catalina Snacks has 22 SKUs across three product categories of cereals, cookies, and snack mixes. All its products contain low sugar and high fiber and protein by using a mix of pea protein, potato fiber, non-GMO corn fiber and chicory root fiber combined with sugar alternatives such as stevia, monk fruit, and allulose. Catalina Snacks products are sold in over 15,000 stores nationwide
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"Keto in focus part three: Catalina Snacks CEO... 'The majority of our audience just want to eat less sugar and fewer carbs'", FoodNavigator-USA.com, April 19, 2022
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Pulse-based snacks are gaining ground within the long-standing, grain-free snack market. Prominent examples include longstanding chickpea-based snack brand Hippeas and the UK’s new lu-based hummus brand Tarwi Foods. While there are multiple alternatives to wheat and rice such as cassava, nuts and root vegetables, pulses are gaining popularity due to its high nutritional value. Pulses contain high levels of protein and fibre and can reduce the fat content of formulations by bulking it out. Pulses also have the potential to improve the texture and shelf life of products. Therefore, pulses align well with health-focused consumers, especially those prioritizing more sustainable, plant-based protein. Despite their growing presence, pulse flours represented only 0.9% of the 2021 global flours market. However, the global pulse ingredients market is predicted to reach $3.06 billion by 2032, growing at a CAGR of 5.2%. Peas are predicted to be the dominant pulse option for manufacturers in the
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"Pulse-based snacks continue to gain ground as a functional choice", Ingredients Network, April 18, 2022
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Chip brands, including as Walkers and Golden Wonder, are reformulating existing products and launching new ones to avoid upcoming HFSS regulations in October. However, making chips HFSS-friendly has proven difficult as they are normally fried in oil and covered in salty seasonings. To overcome these challenges, companies are changing cooking method, using potato alternatives and adapting seasonings. Manufacturers have been experimenting with different cooking methods long before the announcement of HFSS regulations. KP Snacks' Popchips launched in the UK a decade ago and air-pops dried potato and rice to create its lower-calorie snacks. Companies have also looked to vegetables and pulses as an alternative to potatoes. Hippeas has been air-popping chickpeas since 2016 and KP brand Tyrrells recently launched two low-fat lentil chip lines. However, these efforts must be met with changes to the chip seasoning, as most of them are high in sugar and salt. Some flavors like salt & vinegar
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"A better behaved crisp: crisps category report 2022", The Grocer, April 17, 2022
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Transparent Labs recently released its Uncut Protein Cereal which contains 20g of protein per serving. The gluten-free protein puffs are made of rice starch, milk protein concentrate and medium-chain triglycerides and are sweetened with monk fruit extract, stevia, and allulose. The milk protein concentrate contributes to the cereal’s high protein while the MCTs provide high fat content. The brand says the high protein and fat levels create a satiating breakfast while supporting muscle growth, metabolic function, and energy levels throughout the day. Uncut Protein Cereal is currently available on Transparent Labs’ website in two flavors: Cocoa Crunch & Fruity Splash. Each box retails for $14.99 for 8oz, the equivalent four servings.
"Transparent Labs Uncut Protein Cereal Reviews - Is It Worth Buying?", Homer News (Alaska), April 15, 2022
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UK-based snack brand Eat Real has recently been added to the NuTree portfolio for distribution in Australia. NuTree will initially sell Eat Real’s 10 best-selling SKUs, which include Hummus Chips, Lentil Chips, Quinoa Chips, Quinoa Puffs, and Veggie Straws. All of Eat Real’s snacks are free from all 14 declarable allergens and are made with alternative ingredients such as lentils, quinoa, chickpeas and vegetables.
"UK based Eat Real snacks launches in Australia", Convenience & Impulse Retailing, April 19, 2022
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Jaipur startup Gladful was founded in 2020 with the aim to create convenient protein foods and snacks for children. Gladful started by selling cookies made of peas, rice and milk protein available in a variety of flavors – including Indian masala, ajwain, almond and butter garlic. In February, it launched its second product, Sprouted Chilla-Dosa mix available in Beetroot and Spinach varieties. At the end of last year, Gladful raised an undisclosed amount of funding in a seed round led by Antler India. These funds will go towards expanding Gladful’s reach and product range. Its products are available online on its website, or on Amazon, Cred, Flipkart, and smaller marketplaces like One Green and LBB. The startup faces competition from other companies in India’s fast growing healthy snacking market such as Snackible, The Green Snack Co and Habbit Health.
"[Startup Bharat] How Jaipur-based Gladful aims to provide tasty protein snacks for children", Yourstory.in, April 15, 2022
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BFY snack brand LesserEvil announced it has acquired a majority stake in plant-based bar brand R.E.D.D. Founded in 2010, R.E.D.D. has built a growing business on its low sugar, high protein and fiber bars. The deal is LesserEvil's first acquisition and will allow the company to enter the snack bar category. R.E.D.D.’s high-quality health bars align with LesserEvil’s mission to make healthy, sustainable and less processed snacks. LesserEvil will take over R.E.D.D.’s production at LesserEvil's Connecticut facility and integrate the bars into its broader portfolio of snacks. This may lead to updates in R.E.D.D’s products’ taste, ingredients, texture and packaging.
"LesserEvil Acquires R.E.D.D., Expanding Product Offering Into Bars", Business Wire, April 13, 2022
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| Legal, Legislation, Regulation, Policy |
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KP Snacks is marking all wholesale boxes of its non-HFSS products with a clear ‘non-HFSS’ label. This marking will help retailers navigate the wholesale aisle and locate products free from restrictions on positioning and promotions. In-store staff can also benefit by making it easier for them to arrange and replenish non-HFSS stock. KP Snacks has also developed a step-by-step HFSS retailer guide to provide tips for optimizing retailers’ fixtures to prevent lost sales as they adapt to the new regulations. The label and retailer guide will roll out ahead of the enforcement of HFSS legislation in October 2022.
"KP labels its non-HFSS snacks and issues retailer guide on new rules", Talking Retail, April 19, 2022
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| Products & Brands |
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Singapore snack brand Fupi launched beancurd skin sticks in two flavors: Thai Green Curry and Seaweed Wasabi. The sticks mark a new format for the brand, which previously only sold beancurd skin crisps in three flavors: Sichuan Mala, Hot Pot Tomato and Nyonya Laksa. Founded in 2020, Fupi takes a modern twist on traditional Asian beancurd by making it more accessible and introducing new flavors. Its products are vegan, low carb, and high in dietary fiber. Fupi snacks retail at $5.20 a bag and can be bought in stores in Singapore and online on its website and Amazon.
"Fupi Has Thai Green Curry And Seaweed Wasabi Beancurd Skin Sticks—Shiok Snacks For Your Netflix Seshs", Eatbook, April 14, 2022
Egg white crisp company Quevos is preparing to enter the national retail market. Quevos appeared on Shark Tank at the beginning of 2021 and received a deal from Daniel Lubetzky, the founder of KIND Snacks. Since the deal, Quevos has made steady growth - expanding its manufacturing facililties and reaching over $3.2 million in lifetime sales. It currently sells its low-carb, high-protein chips on its website and in-store in GNC, Wegman’s, and Illinois branches of Whole Foods. In preparation for the jump to retail, Quevos has updated its packaging and changed its recipe to improve the taste and texture of its snack chips.
"A year after getting a deal on Shark Tank, Williams grad Zachary Schreier hopes to expand his company Quevos to national retailers", The Berkshire Eagle (Pittsfield, Massachusetts), April 08, 2022
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