After a challenging year, dairy and deli markets are starting 2024 with unit growth, as egg prices rise once again as a result of avian flu, Jonna Parker, principal of fresh foods team lead at Circana, shared during an International Dairy Deli Bakery Association (IDBBA) webinar.
Consumers seek frozen foods to reduce waste and as a cost-effective nutrition source, creating opportunities for brands to reimagine options for the nearly $78bn frozen food department, according to Conagra Brands’ recent Future of Frozen Food 2024 report.
Generating $333m in net revenue and more than $9m in profit, Hungryroot attributes its growth to its AI-driven “core personalization” of users’ food preferences and an expanded inventory in its three facilities, explained Alex Weinstein, the company’s chief digital officer to FoodNavigator-USA.
As Las Vegas prepares for the estimated $215bn economic growth from the additional 215,00 visitors for the Super Bowl, CPG companies and retailers have a significant opportunity to feature value-added offerings for viewers across the country, according to industry experts.
Tyson Foods’ multi-point plant to improve its performance, including “right-sizing” its footprint by shuttering older, less efficient chicken plants and several fresh meat case-ready facilities, is paying off as the protein packer reported better-than-expected in its first quarter.