Tea’s inherent functional benefits, positive sustainability messaging and diverse usage occasions, formats and flavor profiles should make it a shoe-in for US consumers searching for healthier options that don’t compromise taste or convenience, and yet it is often overshadowed by other beverage categories, revealing opportunities for brands to better communicate the value proposition of and stories behind their products.
A trio of acquisitions and divestments in the packaged food industry at the turn of the new year suggest companies are taking a proactive and aggressive approach to rebuilding their businesses by reshaping their portfolios after industry stocks overall struggled in 2023.
As an early adopter of the “triple bottom line” framework, the premium confection company Endangered Species Chocolate has been “doing well by doing good” for 30 years by responsibly sourcing ingredients, supporting fair trade, prioritizing sustainability and giving 10% of its annual net profits to conservation efforts.
Consumers still crave familiar flavors and experiences, as they did during the pandemic, but they also are open to new innovations and technologies leading to an emerging trend of 'newstalgia,' Kevin Ryan, CEO, Malachite Strategy and Research, explained to FoodNavigator-USA.
Health and wellness remain top priorities for snackers, but as peak pandemic continues to recede, indulgence is becoming more important and as such consumers are less willing to sacrifice taste for functional benefit, according to Emily Strobel, VP, growth platforms and innovation at KIND.