Weekly Roundup – Week of 10.17.2022

October 21, 2022

This week’s roundup features food and beverage-related news stories from around the globe, curated by our team of strategists and food enthusiasts:

Functional Beverage Trends Reshaping The Food Industry

Applied Food Sciences (AFS) has published five trend predictions for the functional beverages category it believes will influence beverage brands moving forward. One trend centers around cognitive focus with lower side effects typically experienced from caffeine-infused beverages. Guayusa tea is one product showing promise for which study participants enjoyed better focus with fewer jitters. Enhanced detoxing is another trend they predict will become more mainstream. D-Glucarate is a phytonutrient that helps to remove toxins and carcinogens from the body along with balancing hormones and reducing adverse effects of alcohol indigestion. Hemp seed protein is another trending ingredient beverage brands could consider. According to AFS, hemp seeds “contain more protein wt./wt. then almonds, chia seeds, and flax seeds. They also have impressive emulsification and foaming properties helpful for plant-based milk, creamers, and meal replacement beverages.” See All Five Trends Here.

Study Finds, CPGs Falsely Reported Healthier Product Advancements

According to a report by the Access to Nutrition Initiative (ATNI), eleven of the largest food companies in the U.S. have not made adequate progress in making their products healthier, more affordable, and easier for people to access — even though they have publicly said they were increasing their commitments. The report scored companies on a scale between 1 and 10 and companies averaged a score of 4.2 out of 10. Findings were based on several considerations from product healthiness and affordability to responsible marketing and labeling. In this case, actions do speak louder than words as it appears CPG companies have room for improvement to bridge the gap between stating their products are healthier and more accessible to reformulating them to actually be healthier while also looking for ways to provide access to the masses. Read More.

How One Manufacturer Plans To Eliminate Costs and Increase Efficiencies

With inflation and supply chain disruptions mounting, McCormick has made plans to “eliminate roughly $100M in costs associated with inflation and demand volatility,” stated Chairman and CEO Lawrence Kurzius. Reducing reliance on co-packers, increasing capacity, and removing transportation inefficiencies are three of the six areas of focus for McCormick. By the beginning of the first half of 2023, Kurzius believes these actions will increase the company’s ability to meet demand, lower inventory levels, and increase profit potential. Learn More.

Reduction In Snow Crab Population Hurts U.S. Seafood Industry

The Alaska Department of Fish and Game has reported for the first time in state history an estimated 90% drop in their population of snow crabs while concurrently, the U.S. seafood industry noting the disappearance of approximately one billion winter snow crabs in the Bering Sea. Ben Daly, a researcher with ADF&G, has indicated a few possible causes from disease to climate change. Alaska loses billions of tons of ice per year which is essential for the survival of snow crabs. Local harvesting has been canceled and it is predicted that seafood fishers could lose around $200 million. Furthermore, restaurant operators and consumers can expect menus to lack snow crabs for some time to come. Find the Story Here.

Stories That Made Us Smile

KFC launches new Buffalo Ranch sauce and teams up with Tinder for a limited-time promo giving U.S. fans a chance to win an all-expenses-paid trip to a Jack Harlow concert. Tinder singles can heat up date night while enjoying a ‘Tinder Tenders’ meal that includes Extra Crispy Tenders with the new sauce, two sides, two biscuits, and two beverages. And just to the north, Toronto residents are able to purchase weed on demand from Uber Eats and its partnership with Leafly, an online marijuana retailer. Leafly and Uber Eats say that this partnership will hopefully help tackle the underground marijuana market as well as encourage people not to drive while high. Lastly, Johnnie Walker is expanding its focus beyond flavor innovation to exploring more digitalization, globalization, and sustainability aspects to satisfy consumer demands. The brand has launched a limited-edition Johnnie Walker Black Label Keep Walking Cities Collection which showcases bottles featuring six cities from around the world including Bangkok, Delhi, Istanbul, Warsaw, Madrid, and Mexico City.

Be sure to visit our blog often for industry-relevant topics and strategies to help build business and drive sales.