Weekly Roundup – Week of 2.6.2023

February 10, 2023

Discover the latest food and beverage-related news curated by our team of strategists and food enthusiasts:

Snacks Continue to Score Big For Super Bowl Parties

Super Bowl LVII airs this Sunday and snacks are proving to be just as important as the game itself. Frito-Lay’s Snack Index survey indicated that half of the country believes running out of snacks is worse than their team losing the Super Bowl. With nearly half of respondents saying the party should start around lunchtime, ensuring guests have enough snacks to last all day and night is imperative. Variety and trying new snacks are also important. In fact, the survey showed that compared to previous years, three in four consumers say they’re more excited to try new flavors or variations of their favorite snacks in 2023. Lastly, snacks can bring people together with 79 percent of Gen Z and 72 percent of millennials being most likely to have connected with another person over snacks. Find More Stats Here.

The State Of Plant-Based In Retail and Foodservice

Roughly 25 million consumers eat plant-based beverages and foods occasionally or regularly as part of a meal or as an ingredient, per a press release by IRI and The NPD Group. The release also states that about one in five consumers say they want more plant-based foods in their diet. Taking a deeper dive into this small yet growing industry, The Food Institute evaluated sales figures and trends from the past year to identify purchase patterns and consumer consumption preferences. In retail, refrigerated plant-based meat and seafood sales dropped 15% while frozen alternatives saw increased sales figures of 5.6% for meat and 12.9% for seafood. On the foodservice side, QSRs, fast-casual chains, and college campuses showed the most growth. “Chefs and foodservice operators see the plant-based protein category as a versatile option to serve a greater diversity of guests,” said Darren Seifer, NPD food and beverage industry analyst in the press release. Read More.

How Tabasco Uses Influencer Marketing To Maintain Its Relevance

Lee Susen, chief sales and marketing officer at McIlhenny Company, told Marketing Brew that “working with influencers is a key element of the [Tabasco] brand’s social strategy, which is focused on forming direct connections with consumers.” Susen went on to say that social media is the company’s most significant way to spend its marketing dollars over print, TV, and radio advertising. The brand has been partnering with Christina Najjar, known as @tinx on TikTok, since 2021 when she introduced the brand and the world to the idea of using Tabasco as a salad dressing. Today, the two have collaborated once again with the launch of Tabasco’s Avocado Jalapeño Hot Sauce Dressing, for which Susen said that measuring engagement is the primary metric over sales. Read Article.

PepsiCo Continues To Dominate Within The Multi-Billion Dollar Snacking Industry

The U.S. snacking market is valued at $115 billion, according to PepsiCo, giving the company roughly 20% ownership of the segment from primarily Frito-Lay and Quaker Oats brands. Keeping these brands relevant through innovation of new flavors, brand extensions, and offering different packaging sizes that align with today’s consumer demands are all ways PepsiCo has maintained its dominating presence, Brittany Quatrochi, an analyst at Edward Jones, tells Food Dive. The CPG giant has also made investments in identifying how consumers buy and consume snacks with the launch of two DTC websites. The sites not only enable consumers to buy more than 100 of their favorite snacks, they also provide vital analytics on shopping behavior and user experience. Learn More.

For The Love Of Valentine’s Day

According to Statista, 52% of Americans will celebrate Valentine’s Day this year and restaurants and CPG companies are taking advantage. Here are a few we felt worth sharing:

• Chick-fil-A has brought back its Heart-Shaped Trays at participating locations through February 25. Patrons can select menu items from nuggets and minis to cookies and brownie halves.
• Starbucks is offering coffee lovers festive drinkware including iridescent pink cold cups, adorable “love letter” mugs adorned with heart-shaped postage stamps, and confetti tumblers.
• Between Feb 10 and 16, couples who propose at Cracker Barrel and upload their proposal video, with why they decided to propose, to Instagram with the tag #ISaidYesAtCrackerBarrel, will be entered to win free food for a year.
• In partnership with Frankford Candy, Lunchables launched two limited-edition candy versions of their fan-favorite varieties – Gummy Lunchables Cracker Stackers and Gummy Lunchables Pepperoni Pizza Kits – complete with a heart-shaped box.
• On a sour note, Sour Patch Kids is selling Sour Hearts, a black raspberry-flavored version of the sour and sweet candy. The candy is in the shape of a black heart and comes in a black version of the traditional Valentine’s Day heart-shaped box.

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