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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 …

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, …

$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 …

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 …

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 …

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 …

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, …

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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 …

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 …

Give Peas a Chance: Global Pea Protein Market Primed to Surge

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 …

CBD Market Likely to Expand Under Biden Administration

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 …