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| Subject: |
FOOD BUSINESS NEWS
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May 1, 2022 to May 8, 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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Contents
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The COVID-19 pandemic has accelerated the move to healthier foods and beverages, with startups and challenger brands disrupting the category. PeaTos founder, Nick Desai, says the main driver for this is access to information. Consumers are better informed, and this puts pressure on food companies and regulators. Shaunak Amin, founder and CEO of SnackMagic, says new brands, many launched online, are “more holistic lifestyle brands”, but “taste is always king…brands should strike the right balance between marrying good taste with function, innovative brand messaging and sustainability.” Nick Desai said “PeaTos has always looked to bridge the gap between our desire for tasty and fun snacks with our desire to be better about nutrition,” and that the brand wants to eliminate the need for a compromise. According to SnackMagic’s CPGpulse data, consumers want to try new products but stay close to well-known formats. Shaunak Amin said that while it’s “important to explore new flavors”, there
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"Better-for-you brands are disrupting the snacks category", Smartbrief, April 21, 2022
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Research by The Hartman Group has found that Americans have changed their eating habits as the pandemic eases, with more people eating snacks early in the morning and late at night. Last year, 23 percent of respondents said they eat early morning snacks, rather than breakfast, up from 20 percent in 2019, before the pandemic. 22 percent eat late night snacks or meals, up from 19 percent in 2020 and almost back to the 24 percent before the pandemic. Americans eating traditional breakfast fell to 59 percent in 2021 from 63 percent in the previous year. Adults eating lunch dropped from 67 percent in 2020 to 62 percent last year. Those eating dinner went from 80 percent to 75 percent in 2021. Renee Wheeler from The Hartman Group said the shift to early morning and late evening reflects consumers returning to “some sort of pre-pandemic routine in terms of going to work outside the home and seeking out evening social life." Wheeler added that although “pretty much everyone eats breakfast,
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"Early morning and late night snacking rise as traditional breakfast, lunch dip", FoodNavigator-USA.com, April 21, 2022
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In an interview with FoodIngredientsFirst, Harbinder Maan from the Almond Board of California, says the “snacking space is seeing increased competition that is challenging brands to offer a nexus of nutrition benefits and new sensory experiences”, and that flavor is a key driver. As pandemic restrictions ease, snacking at home has waned. David Deeley, insights manager at Kerry Group, said there is more demand for out-of-home snacking and “we are seeing a revitalized demand for smaller, on-the-go formats.” John Powers from ADM said people are looking for convenient snack options to incorporate in their lives. Sonja Matthews, at Glanbia Nutritionals, believes consumers now expect snacks to both taste good and provide health benefits with protein fortified snacks growing in popularity. Maan thinks consumers may seek “permissible” or “better-for-you” indulgence, with a more mindful snacking approach, and that busy lifestyles mean snacks “with mood benefits have recently emerged to satisfy
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"Snacking: The return of out-of-home snacks, the rise of protein fortification and healthy indulgence", FoodIngredientsFirst.com , April 20, 2022
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Calbee's Nure Jaga (translated as 'wet potato') look like regular chips but are sticky to the touch and described as soft and chewy. Nure Jaga are apparently based on a chewy rice cracker, Nure Senbei, invented in 1960 by Yuji Yokoyama, a confectionery shop owner in Choshi, Chiba Prefecture. These rice crackers attained unexpected success and today are a popular accompaniment to green tea. Calbee is hoping to emulate this success with its wet chips.
"Will Calbee's 'wet chips' become the next big snack?", BakeryAndSnacks.com, April 25, 2022
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| Deals, M&A, JVs, Licensing |
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Private equity firm CapVest Partners LLP has acquired Michigan-based Second Nature Brands, which makes premium better-for-you treats and snacks, such as Kar's Nuts and Second Nature Snacks. It focuses on health-conscious consumers’ demand for products meeting nutritional and lifestyle trends. The Second Nature Snacks brand, for example, offers natural, non-GMO premium snacks and trail mixes for on-the-go lifestyles.
"CapVest Acquires Second Nature Brands, the US Based Creator of Premium Snacks and Treats", Business Wire, April 26, 2022
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| Legal, Legislation, Regulation, Policy |
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As India experiences a growing obesity problem, its government wants to use labelling to stem the tide and has delegated the Food Safety and Standards Authority of India to implement the changes. Government departments, including the health ministry, also have a role to play, and the consumer affairs ministry will provide advertising guidelines to limit the promotion of junk food. The issue of labels on the front of packaging, detailing how much fat, salt and sugar processed food contains, has been a discussion point for a while. These details are currently on the back of packs, but government pressure could accelerate change. Obesity is a major problem in the country. The Indian Journal of Community Medicine found that over 135 million people there are obese.
"To fight obesity, govt to make labelling on snacks a must", Times of India (Electronic Edition), March 27, 2022
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| Products & Brands |
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MUSH, a plant-based, ready-to-eat overnight oats brand, is launching nationwide at over 1,000 Kroger stores. Its flavors are Blueberry, Vanilla, Dark Chocolate and Apple Cinnamon, and are sold in 5-ounce cups in the chilled aisle. MUSH’s retail expansion follows growth in club with Costco Clubs. Launched six years ago, MUSH uses a small number of simple ingredients. It’s free of dairy, gluten and added sugar. MUSH is now available online and around 11,000 stores nationwide, including Whole Foods Market, Target, Publix and Albertsons.
"MUSH - THE READY-TO-EAT OVERNIGHT OATS BRAND - LAUNCHES NATIONWIDE AT KROGER", PR Newswire, April 25, 2022
Seawood Agogo, launched in 2019 in Grimsby, a coastal town in the northeast of England, has closed a distribution deal with Lulu Group, which is based in Abu Dhabi and has stores across the UAE. Expansion to other countries in the region is on the cards. The brand plans to develop new products and sees a recovering hospitality sector as a good opportunity. As well as seaweed, the product’s other “functional ingredients are really healthy, and low sugar”, according to the owners, as well as vegan-friendly.
"Seaweed snack start-up gets big retail break in Middle East", Business Live (UK), April 23, 2022
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| Trends |
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Kestrel Foods, based in Craigavon, Northern Ireland and best known for the Forest Feast range of dried fruits, nut snacks and trail mixes, has acquired Just Live a Little, a granola breakfast and snack food business based in Portaferry. The brand will support Kestrel Foods’ growth in the plant-based food category. Just Live a Little was founded in 2012 and is sold in Waitrose, Ocado and Tesco, but also exports to Asia and Europe. Kestrel Foods exports to 26 countries with a portfolio that includes Forest Feast and ACTI-SNACK, and distribution in retail, foodservice, e-commerce and travel retail. ACTI-SNACK targets the fitness market with mixed fruit, nut and seed snacks in resealable packs.
"Kestrel expands in Craigavon to meet demand for plant based foods", News Letter, April 25, 2022
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