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This week we're all about 2024 predictions - from trends to regulatory requirements, we've engaged with thought leaders across the industry to chart a course for the year ahead. More on that below. And, you are what you eat: Mark Zuckerberg is raising cattle on a steady diet of beer and macadamia nuts produced on his farm in Hawaii. How's that for vertical farming? H/T Adrianne 'Wagyu' DeLuca. Alright! On with the Sunday newsletter. FIRST UP! Setting sail: Voyage makes off with some serious booty. |
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⛵️ Bon Voyage: Foodtech Firm Snags $22M |
All aboard: Oakland, CA-based Voyage Foods has picked up nearly $22M in its latest investment round as the company continues its mission of future proofing the food system, writes Ship’s Captain Lukas Southard. | |
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The round included new capital from several previous investors. It’s part of an overall $30M round Voyage is looking to secure on the back of a $36M raise in May 2022. Founded in 2020 by food scientist Adam Maxwell, Voyage is researching new ways to sustainably produce popular products such as nut butters, chocolate and coffee - free of the 'big 9' allergens. Its primary focus is as a private label supplier to c-stores and multinationals looking to hit environmental responsibility goals, although it also sells its own branded lines as a proof of concept. Read the full ship's log over on Nosh.com. 🥡 Key Takeaway: There's big interest in what Voyage is embarking on. Bigger businesses are eager to tout clean credentials and Voyage is equally eager to offer them a (cost-effective) scalable solution. At some point, Maxwell hopes, the twain shall meet. | |
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🌽 Smaller is Better: FFUPs Goes Single-Serve |
Flavored puffed corn startup FFUPs is looking to capture a wider audience by releasing single-serve 1 oz. bags into the c-store retail segment, writes Bombastic Branding Editor Adrianne DeLuca. Speaking exclusively to NOSH, founder and CEO Sam 'Semi Historic Sour Cream and Onion' Tichnor has a wealth of soundbites for us to feast on - including claiming Cheetos are 'filled with a bunch of crap', and that FFUPs offer 'no nutritional benefit'. Right on, Sam. Tichnor is convinced he can eventually own 20% of the puffed corn market, one 1 oz. bag at a time. Read the full(-ly entertaining) interview over on Nosh.com. | |
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📄 Rules & Regs: What's in Store in 2024? |
Amidst all the trend predictions, it's important to keep an eye on the slow rolling ball of food & bev rules and regulations. Enforcement Offer Adrianne DeLuca called on her regulatory expert pals to chip in their thoughts for the coming year. The biggest ticket item is the Strengthening Organic Enforcement Rule - due to come in effect in March, it will impact the entire supply chain as the USDA moves to maintain its integrity. Meanwhile the nascent Farm Bill continues to be debated, and we can expect to see closure on lingering issues from the 2016 Bioengineered Food Disclosures Act. Read all the insights at Nosh.com. | |
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📣 Community Call: 2024 Beverage Predictions with SPINS |
This week's Community Call sees data experts SPINS join us to discuss exclusive beverage data trends observed in 2023, and how that can point to where the market is headed in 2024. Join us to discuss the industry landscape and have your burning questions answered. Listen up: Community Call open meetings are free to take part in and are as easy as hopping on a 30min Zoom call - except way more exciting, obviously. Click - hey! - here to register. | |
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🍓 Juicy Quote |
"Sustainability has not yet reached a tipping point" This week's thought piece comes from Spin Class Teacher Lukas Southard who dove head first into the 2024 Trends Predictions report from CPG products research biz SPINS. | |
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The crystal ball-esq report is loaded with data-driven insights. Here's a few nuggets: - Expect to see price softening and more promotions as brands look to drive volume.
- Sustainability perceptions are shifting. Consumers are responding to animal welfare certs while certs such as Fair Trade USA are declining. Upcycled Certified and Regenerative Organic are key growth areas.
- Weight loss drugs such as Ozempic will drive innovation - consumers want every bite to matter.
- Interest in Tunisian, Burmese and Colombian cuisine is expected to rise.
- Plant-based brands need to shift to cleaner ingredient decks if they want to grow.
Read the full report over on Nosh.com. What are your thoughts, Sunday readers? Has SPINS hit the nail on the head, or has the report missed some vital statistics? Click here to send in your comments. Click here to send in your comments. | |
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🥑 Quick Bites |
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📰 Jobs Market |
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🍫 IQBAR Refreshes Brand, Drops Keto |
Adaptogen-infused protein bar brand IQBAR has refreshed its branding as it preps for wider distribution writes Adrianne 'It's Been a Long Week' DeLuca. Tellingly the company is dropping its front-of-pack keto callout as interest in the diet continues to wane, according to founder Will Nitze. As part of the company's expansion (it's already in over 10,000 stores nationwide), all Giant and Earth Faire locations will soon carry the brand's more popular SKUs. It's also expanding in wholesale including Sam's Club where it recently graduated to a permanent item. Get the full story on Nosh.com. 🥡 Key Takeaway: It's looking pretty doom and gloom for keto. According to Nitze searches for 'keto bars' on Amazon have plateaued, but more importantly category managers are recommending to remove the word from packs as shoppers are no longer interested. Expect to see keto-focused brands continue to shift elsewhere this year. | |
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👀 ICYMI 👀 |
Hand me my check book: a Key West-based ice cream shop claims to be selling the world's most expensive ice cream bar. Coming in at $250 a pop, the DOOZEE Bespoke Ice Cream Bar is hoping to capitalize on wealthy holidaymakers heartbroken by the area's apparent lack of luxury stores such as Dior and Gucci (yes, really). The vanilla bar is dipped in a premium chocolate coating before having shavings of the most expensive chocolate in the world (To'ak) dropped on it from a Hermes spoon. It's finished off with edible 24k gold leaf and sugar diamonds. Somewhere, a caviar distributor missed out. H/T Adrianne. | |
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AND FINALLY: AI definitely thought this up: Tropicana has removed the letters 'a' and 'i' from its name in order to prove there's nothing artificial in its products - or, indeed, on its bottles. The limited-edition Tropcn packaging can be found hidden in cases of Tropicana at Kroger stores. Each bottle has a code that puts consumers into a competition to win a trip to Florida a.k.a. Flord. | |
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If anyone needs me, I'll be busy petitioning Campbells for the removal of 'a's and 'i's from Alphabet Soup. Until next week, your host, Mark Murphy Love us? Hate us? Wanna talk to us? hello@insider.bevnet.com. @NOSHdotcom on Twitter @NOSHdotcom on Instagram |
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