The U.S. could plant 92 million acres of corn, 90 million acres of soybeans, and 45 million acres of wheat in 2021, according to data presented at USDA’s Outlook Forum. That would represent an increase …
Online shopping is reaching new heights amid the pandemic – and likely won’t be going away anytime soon. ONLINE SALES UP IN FIRST MONTH OF 2021 Total U.S. online grocery sales reached $9.3 billion in …
On February 18, The Food Institute, in conjunction with DMA, hosted a webinar that examined the recent explosion of ghost kitchens and virtual brands. The event, which featured executives from Denny’s, Kitchen United, and Lettuce …
Walmart is tapping automation to help its store fleet handle last-mile grocery delivery, adding local fulfillment centers (LFCs) that will turn parts of them into mini warehouses and speed up fulfillment for local customers. The …
The food industry is one of many accelerating the use of special purpose acquisition companies. But with SPACs positioned to quadruple this year, are these companies poised to become the next Internet bubble or subprime …
Food businesses including grocers, restaurants and farmers, are faced with major issues due to this week’s severe winter weather in Texas. GROCERS AND RESTAURANTS Power outages and supply problems linked to the nearly unprecedented cold …
This article is the first in the FI Quarterly Series on Emerging Consumer Brands. The continuing problem with corporate and independent accelerators is two-fold: the screening process and the mentors available to each cohort. An …
WALMART Walmart beat expectations for same-store sales growth, as an early start to the holiday season and a boost from stimulus money late in the fourth quarter drove demand for electronics, toys and groceries, reported …
A new series of projects will build multistory greenhouses inside affordable housing developments to provide jobs that pay $15 an hour. FRESH PRODUCE AND AFFORDABLE LIVING Vertical Harvest, the company behind the affordable housing concept, …
Prior to this week’s extreme weather in the south, the USDA was already projecting that U.S. farmers wouldn’t see another year as profitable as 2020 for at least a decade. USDA FORECASTS LOWER PROFITS DESPITE …
Nestle has agreed to sell its regional spring water brands, purified water business and beverage delivery service in North America to One Rock Capital Partners, in partnership with Metropoulos & Co., for $4.3 billion. The sale includes …
The world will soon pay more for meat as food inflation deepens. Livestock farmers are getting hit with the highest corn and soybean prices in seven years, raising the cost of feeding their herds by …
Next Valentine’s Day, plant-based consumers will have even more chocolate options, thanks to Nestle’s latest development: a vegan KitKat. NESTLE TAKES PLANT-BASED CHOCOLATE MAINSTREAM A plant-based candy bar, called KitKat V, will be Nestle’s first …
Each February, Black History Month not only celebrates the achievements of African Americans, but also highlights some of the mistreatment African Americans have endured over the course of our history. Perhaps it’s appropriate, then, that …
To no one’s surprise, the consumption of chocolate and other comfort food is on the rise as consumers lean more on guilty pleasures to cope with pandemic-related anxiety. In fact, the stress of 2020 coupled …
While sales data show beverage companies, like many other businesses, are struggling because of the COVID-19 pandemic, there are signs that consumers are making healthier choices about what they drink. And that offers opportunity for …
Sysco Corp.’s fiscal second-quarter results came in below analysts’ estimates on pandemic-related constraints, with the Houston-based food distributor posting adjusted earnings of $0.17 per share, well under the Zacks consensus estimate of $0.35 per share …
The days of the lunchroom peanut butter and jelly sandwich may be numbered as more and more Americans identify and contend with their food allergies, and those who live with them make food choices to …
COMMODITIES SUPERCYCLE U.S. agriculture is at the beginning of a commodity “super cycle,” according to Brett Stuart, CEO of Global AgriTrends. He said China is driving markets for beef, pork, poultry and corn, and that …
After raising an eye-opening $3.4 billion in its IPO, DoorDash is spending its funds strategically. For starters, the delivery company is acquiring meal preparation startup Chowbotics. DoorDash’s revenue rose 226% year-over-year, to $1.92 billion, in …
Now, more than ever, food companies are leveraging loyalty programs to generate sales. At the same time, customers are demanding them. Wade Hanson, Principal with Technomic Inc., said the Baby Boomer generation especially values loyalty programs like the Royal Perks initiative recently launched by Burger King. “Boomers are …
Lab-grown meat is getting closer to reaching consumers, and it looks like the world’s first 3-D printed ribeye is up next. Here’s a look at how we got to this point. ISRAEL: A MAJOR INNOVATOR …
Historically, Environmental, Social and Governance (ESG) factors have taken a back seat to financial performance in the corporate world. And in the interest of performance measurement, companies have often made short-term profit decisions at the …
Hotel occupancy in the U.S. fell to a record low 44% in 2020, according to travel research firm STR. “2020 was a complete wash due to international travel restrictions amongst various countries and also within …
Major food companies are increasingly placing importance on Environmental, Social, and Governance (ESG) practices. Corporations like Nestle, Danone, and McDonald’s have found that ESG initiatives are necessary to meet the demands of today’s consumers. Nestle, …
While Sunday’s Super Bowl will be the perfect platform to highlight the changing of the guard between superstar NFL quarterbacks Tom Brady and Patrick Mahomes, the food industry will also have some significant changes on …
Food businesses are facing logistics issues regarding rising freight costs on top of the ongoing COVID-19 crisis. Rising freight rates and delivery delays have led to global backlash from companies frustrated about the mix of …
By most accounts, it’s not a matter of if, but when. The minimum wage appears to be headed towards $15 in much of the U.S., if not all, in the near future. And restaurant chains are bracing for that impact. “Restaurants need to engineer …
Hormel is reportedly in talks to buy Planters from Kraft Heinz for approximately $3 billion. Citing people familiar with the matter, The Wall Street Journal said the deal could be announced as early as next …
Retailers across the U.S. posted record seafood sales in 2020, according to data presented at the National Fisheries Institute’s Global Seafood Marketing Conference. Sales rose across all categories. Frozen seafood sales soared 35% to $7 …
About 270 workers have died in meatpacking plants since the COVID-19 pandemic began, and research from the CDC suggests plants at times served as transmitters to spread the virus in surrounding communities. Cold temperatures, cramped …
With the pandemic keeping consumers away from restaurants, bars and other establishments, the growth in at-home alcohol consumption continues. When the pandemic began, Americans turned to convenient, familiar alcohol and bought name brand items in …
As the demand for alternative meat products continues to grow, companies are cutting prices to keep up with competition and to become more accessible to all consumers. PLANT-BASED MEAT REDUCES RETAIL PRICES Impossible Foods recently …
Several food retailers are revamping their advertising businesses and appear to be modeling their approach after companies like Google and Amazon. Walmart is the latest to do so, which could have far-reaching business implications. The …
The number of people aged 65 years or older has surpassed those under five globally for the first time since 2018, according to United Nations data. The number of countries with over 20% of the …
We’ve come a long way from fighting off a cold with grandma’s chicken soup. From the healthier products touted by food and beverage companies to the renewed focus of consumers on better nutrition and wellness …
