Food and beverage operations

Share to Twitter Share to Linkedin Patrick Nycz is President of NewPoint , a full-service food and beverage marketing agency, and author of Moving Your Brand Up the Food Chain. As a food and beverage marketing agency owner, I know to stay on top of F&B trends. The industry is a highly competitive intersection of constantly evolving trends, fluctuating consumer tastes and innovation. I was so moved by the massive market share shift away from “big food” to locally sourced food that I even wrote a book about it. So, what are the most prominent food and beverage trends in retail and foodservice today? And what steps can you take to address them better? The Rise Of Plant-Based Meats (And Flexitarianism) Over half of young Americans surveyed now describe themselves as “flexitarian,” with 43% of poll respondents indicating flexitarianism as a permanent lifestyle change. Veganism and vegetarianism are also on the rise. There are many … [Read more...] about The Biggest Food & Beverage Trends: Retail And Foodservice

PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook The Q1FY23 results for Tata Consumer Products Ltd (TCPL; CMP: Rs773; Market capitalisation: Rs 71,264 crore) were in line with expectations. June 2022 quarter performance Consolidated revenues grew by 10 percent, in constant currency terms, while on a three-year CAGR (compounded annual growth rate) basis, it grew by 12 percent. India business grew by 9 percent year on year (YoY), largely led by pricing, while international business revenue grew by 8 percent, in constant currency terms. India operations (75 percent of consolidated... … [Read more...] about Tata Consumer Products: Food business likely to be the next growth engine

Share to Twitter Share to Linkedin So far, this year hasn’t been kind to restaurant adjacent tech companies. Last month alone generated several headlines of layoffs at companies like Lunchbox, ChowNow and Nextbite, while ghost kitchen providers like CloudKitchens and Reef have struggled with some reputational issues. Through the turbulence, Kitchen United has remained steady. In fact, just last week, the ghost kitchen operator secured a $100 million funding round from some recognizable names like Burger King parent Restaurant Brands International, The Kroger KR Co. and shopping mall giant Simon. The roster of investors also includes leaders across the convenience store, packaging, logistics, distribution, automation and real estate categories. As such investments have all but come to a screeching halt , that $100 million number is certainly remarkable. CEO Michael Montagano said this latest round comes after building commercial relationships with … [Read more...] about After Securing $100 Million In Funding, Kitchen United Proves Ghost Kitchens Have Plenty Of Long-Term Potential

Share to Twitter Share to Linkedin Since former U.S. President Donald J. Trump signed the 2018 Farm Bill that legalized hemp at the federal level, the hemp industry seems to have flourished all over the country. The United States Department of Agriculture (USDA) estimated that the total value of hemp production is worth $824 million in 2021. The demand for CBD-based products has driven the industry's production and sales, despite the U.S. Food and Drug Administration (FDA) has not yet allowed CBD in foods, beverages, or dietary supplements . Furthermore, the 2018 Farm Bill also triggered the production and sales of minor cannabinoids with intoxicatingly psychoactive effects, such as delta-8 THC and THC-O-acetate . These products created a grey market as they are used as an alternative to recreational cannabis, especially by consumers who live in those U.S. states that have yet to churn out adult-use cannabis legislation. But last … [Read more...] about How The 2023 Farm Bill May Reshape The Hemp Industry

San Miguel Corp. reported strong financial performance in the first half of 2022 driven by top-line gains across its businesses. This, amid the lingering effects of the pandemic, supply chain bottlenecks and inflationary pressures. Consolidated sales revenue rose 73 percent to P711.4 billion on sustained volume growth and better selling prices. Operating income grew by 41 percent to P85.9 billion, boosted by  the improved performance of its fuel and oil subsidiary Petron, and sustained recoveries of its food, beverage, packaging, and infrastructure businesses. Ebitda (earnings before interest, taxes, depreciation and amortization) reached P91.2 billion, up 13 percent from the first half of 2021. Recurring consolidated net income was up 24 percent to P32.5 billion. With the effects of foreign exchange movements and the impact of the CREATE ( Corporate Recovery and Tax Incentives for Enterprises)  Law, which were reflected in its 2021 results, consolidated net income settled at P19.8 … [Read more...] about SMC delivers strong H1 results

Conglomerate San Miguel Corp. (SMC) said higher selling prices and volumes pushed sales higher in the first half of 2022 but profits were pressured by the weakening Philippine peso and pandemic tax adjustments. The food, beverage, energy and infrastructure giant said net income from January to June sank 33 percent to P19.8 billion amid foreign exchange “movements” and normalized tax expenses from last year’s effectivity of the Corporate Recovery and Tax Incentives for Enterprises Act. SMC’s total revenues jumped 73 percent to P711.4 billion while operating income rose 41 percent to P85.9 billion. SMC said earnings before interest, taxes, depreciation and amortization increased 13 percent to P91.2 billion. Earnings were propelled by the outperformance of infrastructure and Petron Corp., whose first semester 2022 earnings exceeded those of the entire 2021. The food and beverage segment also sustained revenue and profit growth while the power subsidiary saw earnings drop due to … [Read more...] about SMC first half profits declined 33%

Henry Soesanto —contributed photo Food conglomerate Monde Nissin Corp. said profits in the first half declined on cost pressures while third quarter sales saw a turbulent start after a European Union (EU) warning last month scared off buyers of its iconic Lucky Me! instant noodles. The products were later found to be safe for consumption by the Philippine Food and Drug Administration (FDA)but fears over chemical contamination pulled down domestic instant noodle sales by 15 percent in July, according to Monde Nissin chief financial officer Jesse Teo. “The impact, especially in July, was quite substantial but we believe it’s transitory,” Teo said during a media briefing. “We do need to step up our assurance communications to remind people that our products are safe, not only because we say so, but [an] independent lab and the Philippine FDA have vouched for it as well,” he said. Teo said sales in Europe accounted for just 0.2 percent of revenues at its Asia-Pacific Branded … [Read more...] about Monde closes lid on Lucky Me! controversy, but sales plunge

Share to Twitter Share to Linkedin Jaclyn Baumgarten has many fond childhood memories of boating with her family but as an adult she found recreating those experiences to be tricky. “I still wanted the opportunity to get out on the water,” said Baumgarten. “But I didn't have the resources to do it on my own.” While she had the means of a disposable income, through her career in corporate real estate, Baumgarten said that she still felt that boating was out of her financial reach. In 2012, Baumgarten sold her condo to obtain seed capital for her business plan that is now Boatsetter . The online marketplace is designed as a network hub for boat owners, renters and captains with an inventory of over 50,000 boats in 700 locations across the United States, Caribbean, Mexico and the Mediterranean. Along with accessing funding, Baumgarten started learning everything she could about both commercial maritime and recreational maritime insurance and pitching … [Read more...] about Boatsetter Founder Is Making Boat Rentals More Publicly Accessible

Universal Robina Corp. (URC), one of the Philippines’ largest food and beverage companies, has kicked off a slew of initiatives to collect, recover and divert plastic waste as part of its overall goal to achieve plastic neutrality. These include long-term collaborative projects on waste management that cover community engagement and linking with local recyclers. “We are aiming to make lasting, concrete changes on an institutional level, in a way that affects all operations and demonstrates our resolve as a world-class manufacturer,” said Irwin Lee, URC’s “The culminating goal is to establish a sustainable value chain within a few year,” Lee added. With “Juan Goal for Plastic”, URC hopes to help convert post-consumer waste into something useful, and to be an active part of consumers’ collect-and-recycle activities. Under this program, several plastic collection sites have been set up in the country, with more to be opened within the year. Through its La Carlota sugar … [Read more...] about URC kicks off ‘plastic neutrality’ initiatives

Oatly’s oat milk is among 53 products being yanked from shelves nationwide over possible bacterial contamination. The Food and Drug Administration (FDA) says that Oatly’s Oat Milk Barista Edition—plus several other brands’ nondairy specialty beverages, including bottled cold brew by Stumptown and Intelligentsia and several Aloha plant-based milks—have been recalled by the California-based manufacturer of these products, Lyons Magnus. advertisement advertisement Lyons issued the recall voluntarily after acknowledging that those products failed to meet commercial sterility benchmarks in a routine test, putting them at risk of contamination with cronobacter. If that particular genus of bacterium sounds familiar, it’s because America’s baby formula shortage was partly caused by Abbott also recalling popular formulas over cronobacter contamination fears. Though rare, cronobacter infections can cause symptoms that run from fever and vomiting to UTIs. … [Read more...] about Spilled milk: Oatly recall and missed earnings cap a tough week for the popular brand