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 …
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 …
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 …
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 …
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 …
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, …
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 …
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 …
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 …
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, …
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 …
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, …
Could pea protein be the next big plant-based alternative? One major food company appears to be banking on it. WORLD’S LARGEST PEA PROTEIN PLANT BEGINS OPERATIONS Roquette, a France-based food ingredient company, has begun operations …
More consumers are trying hemp-derived CBD products, inspiring supermarket chains like Fresh Thyme Farmers Market to increase CBD offerings, reported Forbes (Jan. 18). PRODUCTS ON THE MARKET Brightfield Group estimates the total U.S. CBD market …
Restaurant chains are getting a sales bump from the latest round of stimulus money, but if patterns mimic the first round, the lift could be short-lived. STIMULUS IMPACT While the amounts given in the roughly …
