Plus, a sample of the show’s new products; Sunnie’s capital raise ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
 
 
NoshMarch 13, 2024
DAILY BRIEFING
Today's news & insights for the food industry.

In this issue of Daily Briefing

  • 🪤 Sunnie Snacks Nabs Pre-Expo Investment
  • 🆕 A Taste Of Expo West New Products
  • 🍫 Honey Mama’s Closes $6.6M Series B
  • 💰 SEMCAP Adds Fresh Del Monte To Investor Pool

📰 Today's Top Story

🚶We Are On Our Way To Expo West

🚶We Are On Our Way To Expo West

That’s right. After all of the hype these past few weeks the BevNET and Nosh team is finally badged up and ready to go in Anaheim. On the way we used up all of our free time (in the TSA line) to do some reflection and analysis on what’s about to come. 

Considering that the BevNET and Nosh editorial team has been fielding Expo-related news since late January, we feel like we have a solid sense of what we will see, smell and sample in the days ahead. But that doesn’t mean there isn’t any room left for surprises… (Remember, you can always submit news here!) Now, let's get a read on what on everyone’s looking for:

Jeff will be sniffing out all the Cash Clues. There’s been a fairly steady drumbeat of capital infusions in the past few weeks between brands as varied as Sanzo, Serenity Kids, Liquid Death, Momentous and more. But these are brands on the rise: at the same time, we saw a well-funded company like Flying Embers folded into a bigger competitor. 

So what’s Expo West going to show us with regard to capital availability? And for brands that haven’t gone to the trouble to call their friends in the trade media to say they’re going out of business – will they be conspicuously absent from Anaheim this week? We're on the lookout for more clues about cash.

Monica is expecting to see more brands positioning around "blood sugar friendly" and "low glycemic" to appeal to the growing number of consumers seeking to prevent glucose spikes, whether or not they have diabetes. 

She believes we will see more appetite suppression and craving elimination claims, not just in the supplements category, but also in food and beverage as popularity (and prescriptions) for GLP-1 drugs like Ozempic continues to mount. She’s also interested to see whether companies using allulose will point to research showing the sweetener's potential effect on GLP-1 secretion to make their case for alt-sugars. 

Shauna is also keeping a lookout for allulose and Ozempic allies. To that end, she will be scouring the show floor for anything BFY candy-related (and not just because of her insatiable sweet tooth – confectionery sales hit an all-time high of $48 billion in 2023!). 

As the industry shifts away from a narrow focus on keto-friendly and sugar-free candy, she is wondering which sweeteners have become formulation favorites. Taking it a step further – whether that favorite is low levels of cane sugar or naturally occurring alternatives like allulose – how will sweetener sources influence future innovation? 

Adrianne is looking to spot environmentally sustainable packaging innovations. She will be on the hunt for brand's tapping into this additional pillar of food-related, sustainable innovation and wants to know: what’s trending, how much does a switch to sustainable packaging really costs and how aligned are those hot new packs with what the consumer wants?

Beyond the pack, she is also keeping an eye on fats. Cooking fats, that is. We’ve seen new CPG brands selling novel takes on butter, ghee and oils as environmental sustainability enters the category conversation (and as consumer sentiment around seed oil continues to sour). CPGs are also calling out their clean fat of choice as if it's a nutrition claim. Are the lingering effects of Keto to blame? Who is steering the cooking fats category and what direction are they heading?

Brad will be looking to follow the latest moves among the macro trends we’ve seen over recent years. Will there be a flood of new prebiotic sodas? Plenty more aluminum-packaged waters? Have beverage brands exhausted the powdered sub-line set, or will we see new entrants (how about extensions into RTD cocktails too)? The show floor is always the best place to get a pulse on which trends are dominating, who’s looking to break in and what tools they are using to do so.

Lukas is also on a trend-tracking mission, but he’s looking at Beef and Breakfast. Are grass-fed and pasture-raised meat brands massaging their messaging to appeal to new consumers in the better-for-the-environment protein segment? Be it new varieties of breakfast sandwiches or frozen waffles, he has been watching the explosion of clean comfort breakfast foods from afar (and is seeking samples in Anaheim!) to understand the true appetite for variety in convenience-oriented morning meals. 

There is one big question Marty is contemplating at this upcoming Expo: How will consumers’ near-endless thirst for innovative CPG products reconcile with their desire to stretch the budgets amidst persistent, new-normal grocery inflation? He is looking forward to seeing how brands and products can thread that line by showcasing value, quality and purpose in that competitive environment. 

We’re seeing premiumization across beverages like oat milk and low-calorie sparkling drinks, where free-from claims and functional ingredients have become table stakes. As emerging categories graduate into full-blown shelves, there’s no place safe from Darwin’s law; may the best brands win… 

So if you see our smiling faces on the show floor – stop us, say hello, and show (and tell) us all about what you are sampling. Before the day begins, don’t forget to review our Unofficial Expo West Guide and check out our pre-show coverage on what’s new in sweets, supplements and super fries

For your morning stroll down Katella Avenue, hype yourself up by listening to the latest episode of CPG Week. And with that, we hope to see you all there – have a great show!

 

Visit SmartSweets Booth 5393 at Expo West to be the first to try their New & Improved bestsellers!

Sponsored message from SmartSweets
Visit SmartSweets Booth 5393 at Expo West to be the first to try their New & Improved bestsellers!

Undergoing a remarkable transformation just in time for SmartSweets’ 8th birthday, the company has revamped the taste & quality of Sweet Fish, Sourmelon Bites, Sour Blast Buddies, & Peach Rings with a Juicer & Fruitier new recipe, promising an even more delightful experience. Kick Sugar, Keep Candy! Learn more

✨ What You Need to Know ✨

🪤 Sunnie Snacks Nabs Pre-Expo Investment

There is a lot of trepidation exhibiting at Natural Products Expo West for the first time but it helps to have some recent wins to talk about with all the retailers, distributors and (ahem) journalists that come by the booth. Sunnie Snacks will be kicking off the show touting not only with a fairly recent distribution partnership with Target but also the announcement that it is two-thirds the way to closing its first institutional investment round.

🤔 The Los Angeles-based snack brand opted to use a SAFE Note in an investment led by Fulcrum Collective and venture capital firm SWAT Equity Partners.

💲About a third of its rounds investment pool has been derived from $10,000 minimum checks from the company’s network of customers and fans.

💁🏻‍♀️ Sunnie has been focused on expanding its retail footprint with a recent launch in about 200 Southwestern Target stores as well as upcoming distribution on Thrive Market and in select Whole Foods locations.

Read the full story on Nosh for more details. 
 

🆕 A Taste Of Expo West New Products

🆕 A Taste Of Expo West New Products

One thing in abundance at Natural Products Expo West is samples. To whet your appetite for all the new products that may soon grace store shelves, we put together a special Expo West Gallery to sample…through your computer screen.

🍣 Plant-based seafood maker Konscious Foods has brought three new sushi products to Anaheim this year as it continues to grow its distribution in Whole Foods ready-to-eat and frozen retail.

🍗 Another plant-based brand, Blackbird Foods, is showing off a line extension of its tempeh WINGS bringing two new flavors — Texas BBQ and Thai Chili — to its growing portfolio.

🥒 Taking feedback from its customer base, Bubbies is slicing its lacto-fermented Kosher Dill Pickles into sandwich chips, ready-to-serve right out of the jar in a sandwich or burger. The two varieties (Original and Spicy) claim to be an innovative first for the pickle category.

Check out the full gallery on Nosh.

 

🍫 Honey Mama’s Closes $6.6M Series B

Chocolate truffle bar producer Honey Mama’s has closed a $6.6 million Series B investment round led by Irresistible Foods Group (IFG), CEO Jared Schwartz announced in a LinkedIn post last week. Oregon Venture Fund also participated in the round. 

👍 In the post, Schwartz said the cash infusion will boost the brand’s mission to further the food is medicine movement through a “uniquely memorable indulgence.”

💭 “With shared values and strong alignment, I eagerly anticipate the profound impact IFG will have on our capabilities as we lead the charge in building the refrigerated chocolate category,” wrote Schwartz. 

⏪ Honey Mama’s has previously raised a total $10.3 million in a two-phase Series A funding round led by Amberstone between June 2020 and August 2021.

 

💰 SEMCAP Adds Fresh Del Monte To Fund Investor Pool

SEMCAP announced this morning that Fresh Del Monte has joined as an investor and partner of its ​​inaugural Food & Nutrition investment strategy. Del Monte has worked with SEMCAP on  two previous investments prior to the fund’s launch which included Purely Elizabeth and Good Culture. 

💼 The fund has also added numerous other “prominent” food and ag investors as well as multiple family offices, a press release notes. The Food & Nutrition investment group is led by John Haugen, Kate Storey and Ryan Newcom and will announce its next transaction in the coming weeks.  

 

🎙️ Now Streaming: Taste Radio

💗 Taste Radio: Loverboy’s Reality

💗 Taste Radio: Loverboy’s Reality

This week on Taste Radio, Ray Latif sits down with Kyle Cooke, the reality TV star and founder of Loverboy hard teas, spritzes and canned cocktails, to discuss building the brand under the spotlight of his time as a cast member of Bravo’s “Summer House” series.

🌅 Cooke talks about featuring Loverboy on the show and translating that into retail sales.

📸 He also shares why 470,000 Instagram followers leaves him feeling like he needs to “make a better effort” at social media and raising brand awareness.

Listen to the episode now.

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