Just in time for Thanksgiving and the holidays—came news for which food and beverage processors could be thankful. Circana (formerly IRI) and The NPD Group released a 2024 food and beverage outlook with a projection of modest volume growth this year after three consecutive years of volume declines.
2023 was a solid year for cookies and bread with launches up 6% and 5%, respectively. New cakes, pastry and sweet good introductions also were in the plus column, up 2.7% for the year. Baking ingredients and mixes posted a 1.6% decline in launches while cracker introductions dipped 4.8% in 2023.
Prepared Foods Chief Editor Bob Garrison talks food and beverage innovation strategy, topics and trends with Mario DiFalco and Kim Lopez-Walters, co-founders of Illuminate Growth Partners in the San Francisco Bay area.
The International Foodservice Manufacturers Association (IFMA) released its final 2023 estimates and its latest 2024 Food Away-From-Home (FAFH) Industry and Segment Projections.
The event at the Radisson Plaza Hotel at Kalamazoo Center will feature CEOs, presidents and directors of business from all areas of the food industry, as well as an update about WMU's food marketing program, which provides talent to the leading companies that attend the conference.
The research, Finding Growth for Food & Beverage at Retail: Winning Eating Occasions throughout the Day, supports go-to-market strategies and ways in which grocers can attract more shopper relevance regarding needs, experiences, tastes, rewards, health – and especially convenience.
At the top of the trends hierarchy are five macro forces that impact consumer needs and behavior: focus on health, increased cost of living, potential political and global threats, technology transformations, and health of the planet.
"Though plastic remains the dominant material, it will face stronger headwinds going forward as the green movement stays strong and past efforts to improve the material's image like light-weighting have run their course," Joseph El-Hage, lead analyst, The Freedonia Group.
The cohort includes Curation Beverage Co, Heather's Choice, I Love Micheladas, Kelsi's Kitchen, Ohh Foods, Sanara and Wellnergy Pets
February 23, 2024
Throughout the 12-week program, emerging brands get support and connections to help them successfully scale. SKU's tailor-made curriculum covers a breadth of key topics, including operations, channel strategy, innovation, supply chain and fundraising.
The pea protein market size is poised for substantial growth, with an estimated value of $1.7 billion in 2022 and a projected CAGR of 11.9% to reach $2.9 billion by 2027. North America stands at the forefront, holding the largest share in both volume and value during the forecast period.