‘We have ambitions to become a snacking powerhouse’

Hershey has made some successful moves in the snacking category over the past five years. In 2017, the company acquired Amplify Snack Brands and its portfolio, which included SkinnyPop popcorn, Paqui tortilla chips, and Tyrrells potato chips. In 2018, Hershey purchased Pirate’s Booty from B&G Foods. And in November 2021, the company made its second … Read more

Can Hershey hold on to share gains as capacity constrains bump against increased demand?

“We have gotten off to a tremendous start to the year with reported sales growth of 16% and adjusted EPS growth of almost 32% in Q1”​ thanks in part to resilient consumer demand despite mid- to high-single-digit price increase across the portfolio and a “Strategic focus on enhancing our offerings and price points to ensure … Read more

Impulse purchases evolve to meet new consumer demands, shopping habits post COVID

Once limited mostly to individually-wrapped items corralled by the checkout stand to be consumed within seconds of leaving the store or on-go, impulse purchases today are more likely to be sharing sizes and larger multi- or variety-packs – reflecting the Shift to working and snacking at home, and the desire to balance the demands of … Read more

Nestle enjoys strong sales as consumer spending remains ‘resilient’ despite 5.2% price hike

“So far, we have not seen any material evidence of negative [real internal growth] elasticity linked to price increases,”​ which grew 5.2% overall and a significant 8.5% in North America during the three months of the year, Nestle CFO Francois Roger said during the company’s first quarter earnings call Thursday. Rather than slowing in the … Read more

‘I think COVID shocked our systems in a lot of ways’

“I think COVID shocked our systems in a lot of ways,”​ said Wolf, who noted how as consumers spent more time at home, they tended to seek out familiar comfort foods leading to a spike in sales in Mondelēz’s core business of cookies and crackers. But the tide is shifting towards discovery of new brands … Read more

‘We are trying to prove that we are more than just an ice cream brand’

“These two products are to really showcase and prove that we can be more than an ice cream brand and that we are a confectionery company,”​ Greenfeld told FoodNavigator-USA, who added the development of its plant-based Crunch and Drip lines was three years in the making. Dream Pops came onto the scene with its plant-based … Read more

Food and beverage companies suspend operations in Ukraine

Finished products companies including Coca-Cola, Grupo Bimbo, Mondelēz International and international ingredient suppliers including ADM and Bunge have sprung to action as the conflict between Ukraine and Russia escalated last week with Russian troops invading Ukraine’s capitol Kyiv and its second largest city Kharkiv over the weekend. Mexican breadmaker Grupo Bimbo announced on Sunday that … Read more

Self-care, pandemic-strain fuel surge in Valentine’s Day chocolate sales as licensing deals reinforce year-long demand

Leading the charts will be chocolate, which two-thirds of Americans typically eat on Feb. 14, followed by 50% who eat cake or cupcakes on the holiday, 48% who report typically eating candy hearts, and 44% who favor gummies, according to research conducted by OnePoll for Sugarbreak, a BCrop focused on reducing sugar consumption. Within chocolate, … Read more

Barry Callebaut on growth opportunities for chocolate

According to Barry Callebaugh Chocolate Trends 2022 ReportIn fact, 88% of American consumers report having purchased chocolate in the past three months, and nearly two-thirds (65%) say this is their preferred indulgence. Sales of chocolate in North America, the No. 2 market for chocolate confectionery, exceeded $23 billion in 2021, with the United States accounting … Read more