Weekly Roundup – Week of 5.1.2023
May 5, 2023
Check out today’s weekly roundup featuring the latest food and beverage-related stories of the week – curated by our team of strategists and food enthusiasts:
Who’s Driving A Vegan Future?
Gen Z is the demographic with the greatest affinity toward a vegan lifestyle and health is the main driver. As noted in a recent study by MIDSS, 72% of Gen Z vegans plan to stay that way for at least the next five years with over half saying they went vegan for its health benefits. Environmental factors, ethical reasons, and simply not wanting to eat animal products are additional motives Gen Z indicated for going vegan. While Gen Z vegans feel strongly about supporting veganism future-forward, the study found that non-vegan Gen Zers surveyed also feel empowered to maintain their meat-eating status with 79% of them saying they do not plan to switch to veganism in the next five years. Find More Insights.
Ice Cream & Frozen Novelties’ Category Growth Beyond Inflation
While Circana data indicated that C-store sales of ice cream and frozen novelties jumped 7.7% and 12.9%, respectively, for the year ending March 26, John Crawford, VP of client-insights-dairy at Circana, said the numbers are solely driven by inflation. Convenience stores have become a destination for frozen treats, but as inflation stretches consumers’ pocketbooks, analysts still predict that innovation of flavors and formats within the category and better merchandising practices can boost chilled sales. Frozen snackable treats, self-serve frozen yogurt and ice cream stations, and smoothie vending machines are all ways C-stores encourage impulse purchases and repeat traffic. Read More.
How Small Brands Can Play In Big Retail Space
Smaller brands with great success in the DTC market often look to expand their offerings by testing the waters with large retailers. However, simply using the same business models and processes when transitioning to retail could prove to be fruitless. Dipti Desai, founder and CEO of Crstl, an EDI platform that helps brands transition to retail, shared 8 challenges with Food Dive that small brands face when transitioning from a direct-to-consumer model. Pitfalls such as “not adapting packaging for retail”, “not understanding supply chain requirements”, and “failing to approach logistics strategically” are three of the eight topics Desai covers. Learn About All 8.
Premium Prebiotic Soda Competes With Beverage Giants
After five years of being launched in the grocery sector, prebiotic soda maker Olipop is on target to reach and potentially surpass $200 million in annual sales. The offering is positioned as a healthier alternative to traditional soda without sacrificing taste or flavor. Olipop’s formula includes nine grams of fiber and prebiotics which help promote gut health – a major wellness trend and driver for many functional foods and beverage products launched today. Available in twelve flavors, Olipop comes with a premium price even over the price increases beverage giants Coca-Cola and PepsiCo have issued. Yet, founder and CEO Ben Goodwin is confident consumers are willing to pay more for his prebiotic soda alternative. Read Article.
Spotlighting Chains
Just in time for summer and outdoor dining, two popular restaurant chains announce new menu items to entice traffic and repeat visits. Shake Shack added three new plant-based offerings – Veggie Shack burger, Non-Dairy Chocolate Shake, and Non-Dairy Frozen Custard. The burger is made from mushrooms, sweet potatoes, carrots, farro, and quinoa, and the non-dairy items feature plant-based custard made with NotMilk. Wendy’s also shows its cooler side by bringing back a fan-favorite, Frosty flavor. The Strawberry Frosty will join its chocolatey counterpart on menus this summer – made from sweet, real strawberry puree. The QSR will also add a spicy twist to lunch and dinner with the addition of the Ghost Pepper Ranch Chicken Sandwich and Ghost Pepper Fries.
Make sure to visit each week for more relevant and timely food and beverage news!
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