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| Subject: |
FOOD BUSINESS NEWS
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| Period: |
January 1, 2023 to January 8, 2023
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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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| Companies, Organizations |
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Post Granola of Dong Suh Foods is dominating Korea’s growing granola market with a 55 percent share. The domestic market for granola has grown to roughly 78 billion won ($60.5 million), up about 21 percent year-on-year. Dong Suh Foods attributes its dominance to its steady stream of new products and flavors that reflect the fast-changing food trends and interests of Korean consumers.
"Dong Suh Foods is leading Korea’s granola revolution", Korea JoongAng Daily, December 22, 2022
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| Consumers |
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Diet recommendations and brand discoverability tied to TikTok and Instagram are driving healthy snacking trends among Gen Z and Millennial consumers. Consumers are staying away from empty calories and are going for options that are low in carbs and sugar and high in protein. Protein content is especially important as consumers are increasingly replacing meals for snacks. Young consumers are also looking for snacks with functional, plant-based and sustainable ingredients.
"Consumers demand health snacks, reject empty calories", Drugstore News, December 20, 2022
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| Deals, M&A, JVs, Licensing |
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Indian private equity firm Jashvik Capital has acquired a significant minority stake in Jabsons Foods, a better-for-you savory snacks company. This is Jashvik Capital's first investment from its recently launched fund. Jabsons Foods sells its nuts and chickpea-based products across India and in international markets such as the U.S., Canada and the U.K. Through the deal, Jashvik Capital hopes to scale Jabsons Foods and expand its distribution.
"Jashvik Capital Acquires Minority Stake In Jabsons Food", The Hindu Business Line, December 26, 2022
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| Innovation & New Ideas |
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As the demand for healthy and functional snacks increases, snack makers are looking to recently developed extruding technology to bring new textures and shapes to consumers. Extruding emerging ingredients like pulses, seeds and ancient grains can present obstacles due to the ingredients’ high fat content and heat sensitivity. Companies such as Coperion, Rheon and Clextral are creating new systems and machine add-ons to overcome these obstacles and make extruding more accessible.
"Producers turn to the latest tech to extrude healthy snacks", Baking Business, December 21, 2022
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| Products & Brands |
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Popadelics is expanding the distribution of its mushroom chips to Urban Outfitters stores across the U.S. Popadelics are made of shiitake mushroom caps cooked through vacuum frying, which allows the mushrooms to absorb less oil and retain more of their color, nutrients, texture and flavor. The vegan, non-GMO snack is available in three flavors: Trippin’ Truffle Parm, Twisted Thai Chili and Rad Rosemary + Salt. Its expansion into Urban Outfitters aims to target young, edgier consumers who are looking for new experimental products. In 2023, Popadelics plans to launch in more non-traditional retailers and grocery stores.
"Popadelics crunchy mushroom chips showcase shiitakes", Snack and Bakery, December 14, 2022
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