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A dream deferred: Bean sales soar as shoppers seek nutrient-dense, plant-based & diet-friendly foods Five years after the United Nations celebrated 2016 as the International Year of Pulses to raise awareness of legumes’ nutritional value and sustainability, SPINS data shows sales of dried beans are skyrocketing as consumers look for more nutrient-dense and budget-friendly products in the wake of the ongoing pandemic. Sales of shelf stable vegetables, tomatoes, grains, canned beans and peanut butter also are on the rise and outperforming total product sales as the pandemic shifts consumer priorities to products that will sustain them between less frequent shopping trips, Kathryn Peters, executive vice president of business development at SPINS told attendees this week during New Hope Network’s Spark Change virtual Natural Products Expo. ....
Kroger Q4 2020 sees sticky customer engagement in digital business, first Ocado automated warehouse goes live Kroger closed Q4 2020 with total sales (excluding fuel) up 10.7% to $30.7bn compared to Q4 2019, and a 118% boost to digital sales for the quarter. Within its digital business, delivery sales grew 249% during the quarter as more and more new customers engage with the companies “seamless ecosystem,” said Kroger CEO Rodney McMullen on the company’s Q4 2020 earnings call. “We see a 98% retention rate within our ecosystem highlighting how sticky our customer engagement is,” McMullen said. McMullen noted how the company continues to improve its digital profitability and is advancing its personalized shopping experience leveraging data analytics to forge deeper relationships with its customer based. ....
Grummies democratizes superfoods with a gummy format Many consumers are aware of the nutritional value so-called superfoods have, but few can commit to a daily diet packed with turmeric, ashwagandha, and elderberry (and even fewer enjoy the taste). This hangup was the impetus for Grummies, a brand of gummies containing a variety of functional ingredients. The global gummy vitamins market is estimated to be valued at $5.9bn in 2020 and is projected to reach $10.6bn by 2025, growing at a CAGR of 12.5%. Grummies is taking what founders Nick Michlewicz and Colin Darretta believe is a cleaner approach to making their gummies. Gummies are the fastest growing category in the wellness space, but most are not very good for you, claimed Michlewicz, pointing out the category s use of sweeteners such as corn syrup and glucose syrup, and use of artificial colors and flavors. ....
Earth Island (Follow Your Heart) co-founder and CEO Bob Goldberg has always had an independent streak, telling reporters over the years he’s happy dancing to his own tune despite periodic overtures from big CPG suitors. Last month, however, he inked a deal to sell the company he co-founded in the 1970’s to Danone. So what changed? “ To be completely transparent about it, I’ve always been in the ‘stay independent’ camp” said Goldberg, a pioneer in the plant-based foods arena who was waxing lyrical about vegan mayo and cheese decades before many investors, big CPG companies, or mainstream consumers, started paying much attention. ....
Investing in the Future of Food: Manna Tree investors seek emerging brands focused on human health As the ongoing pandemic accelerates consumer interest in the role of nutrition in wellness and underscores the supply chain’s fragility, the investors at Manna Tree Partners are looking for at least three growth stage companies that are revolutionizing the production, delivery and consumption of food to support human health. With $235 million in assets under its management as of last month and six investments already in its portfolio to date, Manna Tree’s managing director Pam Shepherd shares in this episode of FoodNavigator-USA’s Investing in the Future of Food where she see the most potential to improve human health and create a more transparent, stable supply chain. ....