Weekly Roundup – Week of 7.29.24
August 2, 2024
Explore this week’s most talked about food and beverage-related topics – all curated by our team of strategists and food enthusiasts:
Surge in Plant-Based Snack Sales Reflects Growing Consumer Interest
The plant-based food market is experiencing significant growth, particularly in the snack segment. According to a new report from the Plant-Based Food Association (PBFA), dollar sales of plant-based snacks surged nearly 20% from 2022 to 2023. This trend is not limited to traditional snacks; innovative plant-based options like cauliflower and bean-based snacks are meeting consumer demand for more nutrient-dense choices. Items like plant-based popcorn accounted for a 6.6% year-over-year growth rate while granola bars and [other] snacks saw an impressive 32.8% growth, indicating a strong consumer preference for natural and convenient snack options. Read More
Tackling Foodservice Distribution Challenges with IFDA’s Mark S. Allen
In the latest episode of The Food Institute Podcast, Mark S. Allen, President and CEO of the International Foodservice Distributors Association (IFDA), shares his insights on the pressing challenges and innovative solutions within the $380 billion foodservice distribution industry. From labor shortages and transportation issues to technology advancements and the significance of industry events like IFDA’s Solutions Conference, Allen provides a comprehensive overview of the current landscape. Listen Now
Key Themes From the IFT FIRST 2024 Expo
The Institute of Food Technologists recently hosted the IFT FIRST 2024 Expo in Chicago, attracting food scientists, nutritionists, and product developers from around the globe. With over 1,000 exhibitors, the event showcased innovative solutions addressing key industry trends such as brain health, indulgent proteins, and sugar reduction. Highlights include:
- Consumer interest in brain health benefits from food and beverages rose from 25% in 2023 to 28% in 2024
- 76% of Americans aiming to limit or avoid sugar in 2024, up from 72% the previous year.
- Demand for protein-rich foods continues to rise, with companies offering indulgent and appealing ways to incorporate more protein into diets
Starbucks’ New Strategy To Retain Customers
Starbucks is working to retain customers amid declining global sales by introducing new strategies that cater to modern consumer preferences. These strategies include a “Pairings Menu” with affordable drink and breakfast combos, and operational enhancements under the “Siren Craft System” to speed up service. Changes like preparing hot drinks first, using faster blenders, and implementing digital dashboards aim to improve efficiency and customer experience. Starbucks hopes these adjustments will make their offerings more appealing and convenient, thus encouraging customers to return. Learn More
Balancing Culinary Excellence And Athletes’ Dietary Preferences At The Paris Olympics
In the Olympic Village, caterers were prepared for 40,000 meals a day, designed with the help of Michelin-starred chefs. The original focus was on plant-based and locally sourced options to reduce the Games’ carbon footprint. However, feedback from athletes has led to adjustments in the menu to include more meat. Sodexo Live, the French company responsible for catering, increased supplies of popular items like eggs and grilled meats to meet the high demand. The result is a slightly less climate-friendly menu than initially planned, but one that ensures athletes are well-nourished for peak performance. Read Story
Stop back every Friday for more trending stories and insights surrounding the food and beverage industry.
