The beverage industry has seen an increase in demand for premium beverages among younger consumers, and boba tea is a growing niche in that specialty segment. According to a recent CLSA survey of consumers, 94% …
The food industry took major hits throughout the pandemic. In the aftermath, internal and external wage disparities continue to exacerbate labor issues industrywide. In 2020, median food industry employee compensation was $33,392, down 0.7% year …
Coop, one of Sweden’s largest supermarket chains, was forced to close some 500 stores due to an ongoing cyberattack affecting organizations around the world, reported BBC (July 4). Though the supermarket itself was not targeted …
Amazon broke new ground in the retail space with the recent debut of its “Just Walk Out,” cashierless checkout system at a grocery store in Bellevue, Washington. Amazon’s VP of Physical Retail and Technology, Dilip …
Here are trending economic and food industry data points, as well as major economic and company earnings releases for the coming week: Gen Z Unemployment, Robinhood and new generation of investors, earnings from McCormick (MKC), …
Two-thirds of Americans plan to return to normal Independence Day celebrations this weekend, according to Numerator. So, as pandemic restrictions ease and Americans resume their Fourth of July traditions, The Food Institute takes a closer …
Jason Dorsey knows it’s not easy to keep up with all the evolving forms of social media. Nevertheless, the Gen Z expert feels it’s time to embrace marketing on TikTok, a social network which has …
The specialty food market reached $170.4 billion in 2020, with sales at retail increasing 19.4%. Overall, the specialty sector accounted for 21.5% of all food sales at year’s end, according to the Specialty Food Association’s …
U.S. beverage demand is forecast to increase 2.9% yearly in nominal terms through 2025, as income rises and the population grows, according to Beverages: United States, a report by Freedonia Focus Reports. Here’s a look at which …
McCormick & Co. today reported financial results for its fiscal second quarter ended May 31, 2021. KEY HIGHLIGHTS Sales rose 11% in the second quarter from the year-ago period. In constant currency, the company grew sales …
Despite the rise of plant-based alternatives last year, meat department sales reached $82.5 billion in 2020, an increase of 19.2%, according to the 2021 Power of Meat report from FMI and the Foundation for Meat …
The future of vertical farming is bright. Advanced technology and increasingly severe weather conditions that hurt outdoor farming are contributing to big growth, albeit from a very small base. And that growth will accelerate over …
Consumers resuming active lifestyles are still maintaining at-home habits, according to a new IRI report highlighting key trends and growth opportunities for CPG manufacturers and retailers. In April, food and beverage sales for at-home consumption …
General Mills and Constellation Brands both reported earnings today. Here’s a closer look at highlights from both reports: GENERAL MILLS Fourth Quarter 2021 Highlights Net sales declined 10 % to $4.5 billion and organic net …
The plant-based ice cream sector is growing fast, with no signs of slowing on the horizon. At the end of March, snack bar brand KIND released seven flavors of frozen, plant-based desserts, reimagining their classic …
The USDA is predicting increased milk production this year and next, pushing prices lower in the near term. University of Missouri economist Scott Brown told Dairy Herd Management (June 22) producers are getting squeezed by …
While Americans are paying more for everything from lumber to computer parts, and with most of the food industry contending with price increases, one surprising exception can be found: avocados. While often considered one of …
Pork has been making headlines of late, with one of the most notable updates being that prices for U.S. hogs have slipped since the Chinese government said its supplies have nearly fully recovered from African …
You thought 2020 was bad? This year has featured extreme drought conditions. Then, cicadas and grasshoppers. Now, the Pacific Northwest is getting walloped by a nearly unprecedented heatwave. Portland, Seattle, and swaths of western Canada …
Proper inventory management is a top concern for retailers. Out-of-stock items and inefficient replacement strategies can result in lost sales, reduced customer satisfaction, and lower loyalty levels. In response to these challenges, companies like Walmart …
Dunkin’ has pulled the Beyond Sausage breakfast sandwich off its U.S. menu and no longer has it listed among the food items posted on the company’s website, reported Fox Business (June 23). ANALYST COMMENTS “We …
Consumer-facing businesses, including restaurants and retailers, are responsible for 27% of food waste in the U.S., according to recent data from the ReFed Insights Engine. At 21%, farms aren’t far behind. However, the data also …
Here are trending economic and food industry data points, as well as major economic and company earnings releases for the coming week: retail sales, supply crunch, global forecast, earnings from Darden Restaurants (DRI), and more. …
While consumers have a general understanding of how Amazon.com disrupted the retail landscape, most probably don’t know how the company’s signature sales event, Prime Day, also forced the industry to pivot. And with e-commerce sales …
Here’s a look into notable developments in the seafood market recently: SHRIMP’S ASCENT The global shrimp market size was valued at $31.6 billion in 2019, and is estimated to reach $54.6 billion by 2027, registering a CAGR of 9.2% …
Record-breaking temperatures and water shortages continue to pummel the agricultural industry across the western U.S. California farmers are scaling back production and uprooting crops as they struggle to navigate relentless drought conditions. Meanwhile, the impending …
The U.S. economy grew at a 6.4% rate in the first three months of the year, The Associated Press reported Thursday. The gains are setting the stage for what economists are forecasting could be the …
While the world looked to the second half of 2021 as the “Great Reopening” following the COVID-19 pandemic, it seems the “Great Backlog” is a more apt name for the current shipping paradigm. From sweatpants …
Strong grain prices, low interest rates and increasing exports are bringing stability to the rural economy, the June Rural Mainstreet Index from Creighton University indicates. Strong growth points to an improving farm economy featuring solid …
Israeli startup Future Meat Technologies Ltd. is in talks with U.S. regulators to start offering its cell-based meat products in restaurants by the end of next year. THE WORLD’S FIRST INDUSTRIAL CULTURED MEAT PRODUCTION FACILITY …
As we approach the second half of 2021, the outlook for food delivery is starting to shift in a few noteworthy respects. NEW, LOCAL CHALLENGERS ENTER THE MARKET Big delivery apps including Uber, Grubhub, and …
Despite the rapid growth of social media, many companies are just beginning to grasp the power of influencers, noted Kevin Brown, the chief marketing officer of Onbe, a payments partner for several brands. “To build …
Fast-food chains, such as McDonald’s and KFC, appear to be cutting discounts and pushing more expensive meals post-pandemic. QSRs are cutting back on $5-and-under “value” menu items in favor of $10-$30 meal combinations in order …
As demand for chicken products rises, and the meat industry addresses anti-competitive behavior, Sanderson Farms Inc. is reportedly exploring a sale. POSSIBLE SANDERSON SALE Sanderson Farms tapped Centerview Partners for advice on its potential sale …
Wingstop’s foray into chicken thighs is the industry’s newest testament to the growing power of the virtual restaurant. The company is launching Thighstop, a virtual concept “brand hack” that will serve up crispy chicken thighs for …
Food suppliers are turning to out-of-state workers and recruiters to fill job openings, with some even being paid six figure salaries. RENT-A-STAFFER BOOM Some New York food suppliers are hiring Alabama-based truckers as they can’t …
