Rising Costs Pushing Meat Producer Prices Higher

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 …

The Newest Plant-Based Innovation: A Vegan KitKat

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 …

New Bills Could Provide Assistance to Black Farmers

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 …

Shifting Retail Trends Hurting Chocolatiers Despite Strong Chocolate Market

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 …

Sales Data Show Rise in Popularity of Healthier Beverages

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 …

Foodservice Distributors Heavily Impacted by COVID-19

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 …

Allergen-Free Foods an Opportunity for the Food Industry

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 …

FI Agriculture Round Up: The Dawn of a Commodity ‘Super Cycle’

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 …

DoorDash Diversifies with Chowbotics Acquisition

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 …

Restaurant Loyalty Programs Growing in Popularity, Especially with Baby Boomers

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 …

Are You Ready for 3-D Printed Steak?

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 …

Why ESG Initiatives Matter for the Food Industry

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 …

Pandemic Inspiring Unique Partnerships Among Restaurants and Hotels

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 …

Food Companies Push ESG Movement Forward

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, …

Super Bowl Showcases Changing of the Guard for NFL (and Food Industry)

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 …

Supply Chain Pain: Freight Rates, Delivery Delays Frustrate Food Industry

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 …

$15 Minimum Wage Debate Heating Up in Restaurant Industry

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 …

Report: Hormel in Talks to Buy Planters, Continuing Greater Snack Acquisition Trend

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 …

Can U.S. Retailers Net Record Seafood Sales Again in 2021?

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 …

Did the Meat Industry Do Enough to Protect Workers from COVID?

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 …

Distillers Raise Their Glasses to At-Home Spirits Growth

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 …

Food Tech Driving Down Price of Alt Protein

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 …

Walmart Sharing Shopper Data with Brands as Part of New Advertising Strategy

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 …

As Senior Citizen Demo Grows, CPG Companies Take Note

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 …

COVID-19 Spurs Immunity-Boosting Food Products Market

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 …

CPG Companies Gained in 2020; In 2021, Will It Continue?

Big CPG companies did well in the first half of 2020, but they failed to meet consumer demand in the year’s second half, giving way, to an extent, to upstart CPGs. CPG sales increased by …

What Will Americans Eat During the Super Bowl?

Super Bowl parties may look different this year, but food will still be a major part of them. Frito-Lay estimates a 21% increase in snacking vs. previous Super Bowls as more consumers plan to watch …

Restaurant Earnings Show Continued Recovery  

Foodservices’ latest quarters have seen mixed results as restaurants continue to cope with pandemic-related losses. In 2020, restaurant and foodservice industry sales fell by $240 billion, from an expected level of $899 billion, according to …

Consultants: Restaurants Must Adapt Quickly to Pandemic-Era Changes

Tim Hand and Bruce Reinstein, partners with food industry consulting firm Kinetic12, and Wade Hanson, principal with foodservice consulting firm Technomic, participated in a webinar yesterday hosted by The Food Institute and DMA titled “2021 …

Direct-to-Consumer Model Picks Up Speed

As consumers largely continue to stay home during the COVID-19 pandemic, several food brands have shifted to a direct-to-consumer (DTC) model. Bimbo Bakeries USA was one such brand who recently launched a DTC platform. And, …

ADM Fourth-Quarter Profit Bolstered By Growth in Nutrition Segment

Archer-Daniels-Midland Company reported fourth quarter earnings of $687 million. Here are some highlights from the report: NUTRITION ADM’s Nutrition business delivered 24% year-over-year operating profit growth. “Our Nutrition business continued to harvest investments, lead in …

Beyond Meat, PepsiCo Team up on Plant-Based Products

The plant-based protein trend continued to gather momentum this week, when Beyond Meat and PepsiCo announced a joint venture to sell snacks and drinks made from plant-based protein. A WIN-WIN FOR TWO MAJOR PLAYERS The …

Major Brands Sack Super Bowl Ads as Upstarts Kick Off for First Time

Some upstart brands that saw strong sales in 2020 will keep the momentum going by airing Super Bowl advertisements for the very first time. Other, more established brands are directing traditional ad budgets for the …

Rising Commodity Prices Bring Relief to Farmers

Soybeans and other commodities are seeing a jump in prices due to dry weather and strong export demand from China. Could this lead to higher prices for consumers? RISING COMMODITY PRICES ​Prices for corn, soybeans, …

FI Agriculture Roundup: Vilsack Focused on Climate Change

Tom Vilsack, President Joe Biden’s nominee for U.S. agriculture secretary, pledged this week to increase USDA programs to combat climate change, expressing confidence that farmers will embrace the chance to make money by sequestering carbon within …

Will 2021 Be the Breakout Year for Meal Kits and Fresh Food?

The meal kit and fresh food segments have experienced tremendous growth over the course of the pandemic on a combination of limited dining-out options, families with little time to spare for preparing and cooking food, …