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Subject:
FOOD BUSINESS NEWS
Period: September 18, 2022 to November 13, 2022
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
 

Experts Cast Doubts On Plant-Based Jerky Market

Industry experts are questioning whether plant-based jerky can break out of the niche market. According to SPINS data, plant-based jerky sales doubled to more than $20 million last year in the U.S., excluding e-commerce. However, the category is still unlikely to challenge the beef jerky industry, which is estimated to be worth $5 billion. Nicholas Fereday, an executive director for food and consumer trends at Dutch investment bank Rabobank, argues price and taste are essential to the success of plant-based jerky, adding that plant-based jerky should be at a discount to meat-based products to recognize it as a substitute product. However, even if the plant-based option manages to be cheaper and palatable, it will often still not contain the same protein levels as meat jerky, reducing its functionality. John Baumgartner, a managing director at Japanese investment bank Mizuho Securities, points to Beyond Meat’s jerky as an example. While Beyond Meat has strong distribution through ...  More

"US snacks spotlight: will plant-based jerky ever be more than niche?", just-food global news, October 28, 2022

 
Comment & Opinion  

Montreal Insectarium Offers Free Weekly Tastings Of Insect-Based Gourmet Snacks

Montreal museum The Insectarium is holding free weekly tastings of insect-based gourmet snacks to raise awareness amongst consumers. Snacks include spicy cricket powder-covered almonds, sun-dried tomato tapenade with mealworms, and cricket pecan shortbreads. For the holiday season, The Insectarium is offering a ‘discovery box’ of five insect-based gourmet products for $50. 

"What's not to like about gourmet insect snacks?", Montreal Gazette , November 03, 2022

Companies, Organizations  

10 Acre Introduces Carbon-Neutral, Vegan Chips

Chip producer 10 Acre, based in the East Anglia region of England, is relaunching into retail with a new range of carbon-neutral and HFSS-compliant potato chips. Using potatoes grown on its farm and fried on site, the new range offers five vegan flavors: Cheese & Onion, Fried Chicken, BBQ Beef, Sea Salt and Cheesy Chilli. 10 Acre will be supporting the launch with a marketing mix that covers earned and owned support, in addition to a PR, social media and influencer campaign that will be timed alongside an in-store launch.

"10 Acre Introduces HFSS-Compliant, Vegan, Carbon-Neutral, Hand-Cooked Crisps", Kam City, November 08, 2022

General Mills Launches Mini Version Of Fan Favorite Cereals

General Mills has unveiled a ‘minis’ line of its Trix, Reese’s Puffs and Cinnamon Toast Crunch cereals. The line transforms the iconic cereals into smaller, round puffs, but with the same taste and texture. General Mills claims there are more minis variants to come. The new minis line is available at select retailers across the nation for $3.99 a box. 

"Generals Mills Has New Take on Trix, Reese's Puffs, Classic Cereals", TheStreet.com, November 06, 2022

Rule Breaker Snacks Chosen For NewChip’s Global Accelerator Program

Vegan and allergy-friendly snack brand Rule Breaker Snacks has been selected for NewChip’s Global Accelerator program. Rule Breaker sells pre-packaged cookies, brownies, and blondies made from chickpeas and other clean ingredients. Rule Breaker Snacks are available online and in over 3,000 retail locations across the U.S., including ShopRite, HyVee and Giant. Through its partnership with NewChip, Rule Breaker is looking to raise additional funding to build and scale its business. 

"Rule Breaker Snacks® Chosen For Newchip's Global Accelerator Program", MENAFN - Press Releases (English), November 03, 2022

Quinn Snacks Gives Popcorn Kernels Sustainable Makeover

Quinn Snacks has relaunched its Family Farmed Pop-at-Home Kernels with updated packaging and single-origin corn kernels. The kernels are grown on McKaskle Family Farm in Missouri using regenerative farming principles, such as minimizing soil disturbance, maximizing biodiversity and reducing synthetic inputs. The kernels are also packaged in a 35 percent post-consumer recycled pouch, which offers a 60 percent reduction in greenhouse gas emissions compared with the previous carton.

"Quinn Snacks Launches Family Farmed Regeneratively Grown Pop-at-Home Kernels", Nosh.com, November 02, 2022

Brightseed Showcases New Dietary Fiber With Bioactives From Hemp Hulls

Brightseed has announced the launch of Brightseed Bio 01, a dietary hemp fiber to support gut health, for use in food and beverages. The ingredient is made from upcycled hemp hulls and formulated to optimize bioactive content. According to Brightseed, Bio 01 is the only dietary fiber on the market to contain two bioactive compounds shown to support gut barrier integrity in preclinical studies. Brightseed has showcased the ingredient in BioCrisp+, a protein crisp ingredient made for cereals, bars and baked goods.

"Brightseed to debut its new dietary fiber with bioactives derived from hemp hulls at SupplySide West", Nutritional Outlook , October 26, 2022

Consumers  

Report Reveals UK Consumers’ Perceptions Of Most Sustainable Brands

The 2022 UK Brand Sustainability Benchmark Report from research tech firm Glow sheds light on consumer perceptions of brands’ environmental, social and governance performance. Many food brands made it into the top 20 most sustainable brands ranked by consumers, including  Beyond Meat, Linda McCartney Foods, Rude Health, Tony’s Chocolonley, Innocent and Quorn. Many cereal brands also made it into the top 20, including Weetabix, Quaker Oats and Dorset Cereals. Consumers say they gather their ESG messages primarily through news and media coverage, product packaging and advertising.

"Artisanal, fibre-rich cereals tick the Brit consumers’ sustainability box", Bakery and Snacks, November 08, 2022

Consumers Globally Trading Down To Cheaper Snacks

New research from GlobalData research finds that consumers worldwide are choosing cheaper snacking options. According to the data, 41 percent of consumers globally traded down to cheaper savory snacks in the third quarter of 2022, whether within the same brand or moving to private label. For chocolate, confectionery and desserts, the proportion was 39 percent. When deciding whether both categories of snacks were good value, consumers listed low price and high-quality products/ingredients as the top factors. Functionality and portion size were next in line. Discounts and promotions were also significant, particularly with chocolate, confectionery and desserts. 

"A chill, not a freeze: the impact of inflation on indulgent snacks", Just Food, November 07, 2022

Deals, M&A, JVs, Licensing  

Harvest Snaps Brings Selects Baked Navy Bean Snacks To Market

Harvest Snaps has launched Baked Navy Bean Snacks under its Selects line. The snacks are vegan, contain no artificial flavors or preservatives, and are high in protein and fiber. Harvest Snaps Selects Baked Navy Bean Snacks are now available in Sprouts Supermarket in three flavors: Loaded Taco, White Cheddar Jalapeno and Honey Dijon.

"Harvest Snaps Launches Selects Baked Navy Bean Snacks", PR Newswire, October 26, 2022

Market News  

India’s Children Snacking Market Takes Off

The children’s snacking market in India has seen significant growth since the COVID-19 pandemic as snacking became more of a habit for both adults and children. Convenience for parents and guaranteed food safety for children are the primary drivers of growth within the category. 

"Keeping kids keen: Growth in India's children's snacking market driven by convenience, health and safety", FoodNavigator-Asia.com, November 01, 2022

Products & Brands  

Student-Founded Granola Company Expands Employee Base

Student-founded granola company Rooted Living has recruited six student employees after a year in business. Rooted Living was founded by Northeastern student Rachel Domb alongside the help of the university’s entrepreneurial programs. The start-up now sells its all-natural, sustainably packaged granola online and in 14 stores in the Greater Boston area. 

"‘I AM THE GRANOLA.’ ROOTED LIVING FOUNDER RACHEL DOMB TAKES HEALTHY SNACK FOOD STARTUP TO NEXT LEVEL", Northeastern University, November 02, 2022

Dirt Kitchen Launches Barbeque-Flavored Air Dried Carrot Crisps

Vegetable-based snack brand Dirt Kitchen Snacks has launched its Air Dried Carrot Crisps with Smoky Barbeque Seasoning. The new product contains 35 calories per serving, and like all Dirt Kitchen Snacks varieties, is vegan, non-GMO, and gluten-free and contains no artificial flavors, colors, preservatives or added sugar. Dirt Kitchen’s Air Dried Carrot Crisps with Smoky Barbeque Seasoning are available exclusively on its website.

"Dirt Kitchen Snacks Launches New Barbeque-Flavored Air Dried Carrot Crisps", Nosh.com, October 31, 2022

Chinook Seedery Partners With MLB Rookie To Launch Lemon Pepper Flavored Sunflower Seeds

BFY sunflower seed brand Chinook Seedery has partnered with MLB rookie Bobby Witt Jr. to release a new Lemon Pepper flavor to its existing range of sunflower seeds. Chinook Seedery’s seeds are non-GMO, contain no MSGs, and have a lower sodium content than leading flavored sunflower seeds. With the addition of Lemon Pepper to the lineup, Chinook now has seven flavors, including Original, Parmesan & Pepper, Smokehouse BBQ, Hatch Chile, Cinnamon Toast and Jalapeño Ranch.

"Chinook Seedery Partners with Bobby Witt Jr. To Release Their Newest Flavor", PRWeb, October 28, 2022

Trends  

Consumers’ Emphasis On Experimental Eating Fuels Snacking Innovation

Data from ADM finds that 74% of consumers are keen to be adventurous and try new flavours from around the world. Consumers often perceive snacks as ‘low risk’ opportunities for food exploration, as they tend to be smaller quantities and at lower price points than full meals. This emphasis on explorative eating means snack developers have the freedom to experiment with unique taste profiles, unexpected colors and unusual textures. 

"Experiential eating drives new snacking innovations like 'swicy' s’mores and the vegan 'brookie'", BackeryandSnacks.com, October 26, 2022

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