About two-thirds of consumers purchase specialty foods, leading the industry to $140.3 billion in retail and foodservice sales in 2017, an 11 percent increase over 2015, show the findings of the State of the Specialty Food Industry 2018 report, published by the Specialty Food Association in collaboration with Mintel.
Industry efforts to get in front of the labeling debate with the SmartLabel initiative is both meeting consumer demand for transparency and boosting sales, prompting initiative leaders Grocery Manufacturers Association (GMA) and Food Marketing Institute (FMI) to launch a campaign in a bid to raise consumer awareness.
Regional street foods are playing a more influential role on restaurant menus. Such chains as The Cheesecake Factory, and others known for featuring international dishes that honor the original recipes, are keeping close tabs on what’s “hot” at street level.
Food retailing has seen steady growth in competition and in order to succeed, retailers must understand how to differentiate themselves. Trading relationships between retailers and manufacturers have also been impacted. Collaboration is becoming a necessity for big food manufacturers and retailers. CPGs need to understand how much time they should invest in this type of collaboration and the best strategies for execution.
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Chef’d is rolling out its meal kits to 30 select Walgreens and Duane Reade stores in the metropolitan New York area.
Tyson Foods has expanded its portfolio of organic brands with the acquisition of poultry producer Tecumseh Poultry.
Earl Enterprises owns Planet Hollywood, Buca di Beppo, and Earl of Sandwich, among other brands. An affiliate of Right Lane Capital initially agreed to acquire the company, but bankruptcy court filings show a new buyer emerged in Earl Enterprises, reported Orlando Business Journal.
Star of the West Milling Co. this year added organic ingredients to its portfolio by acquiring a 60% stake in Everbest Organics, which contracts with farmers to grow soybeans and dry edible beans, including garbanzo beans, and operates a processing facility in Munger, Mich.
Los Angeles-based health food brand Bright Foods introduced a range of chilled fruit and vegetable bars in Southern California.
Meal kit delivery company HelloFresh has expanded into the retail segment for the first time with the introduction of a meal kit range, initially available from 581 Giant Food and Stop & Shop stores throughout the US.