Industry News
Consumer Packaged Goods
Top stories summarized by our editors
1/14/2022

Kefir producer Lifeway has completed its "Lifeway 2.0" plan to reignite sales, so its new "Lifeway 3.0" strategy is focused on growing its US and International footprints, said Julie Smolyansky, Lifeway CEO. Kefir sales are expected to increase 11% by 2025 with growing consumer demand for on-the-go probiotic products supporting the growth, said Smolyansky.

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Smolyansky
1/14/2022

Hard seltzer and beer company CANarchy Craft Brewery Collective has been acquired by energy drink company Monster Beverage Corp. CANarchy will keep its structure and function independently as part of the $330 million deal, according to Monster.

1/14/2022

BLK & Bold Coffee is entering 35 Kum & Go stores in three states. "We can't think of a better partner to expand our availability throughout our shared consumer markets, allowing for additional support for our 5% for our Youth program," said Rod Johnson, BLK & Bold co-founder and chief marketing officer.

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BLK & Bold Coffee
1/13/2022

PepsiCo, Coca-Cola, Kraft Heinz and other legacy food and beverage companies are responding faster to consumer trends by deploying in-house incubators, agile product testing and advanced data analysis, writes Louis Biscotti, national leader of Marcum's Food and Beverage Services group. PepsiCo deploys artificial intelligence to determine and react quickly to industry trends, and Coca-Cola reorganized the company to focus on five major categories and introduce innovative new offerings such as Coca-Cola with Coffee.

1/13/2022

Procter & Gamble has rolled out Dawn EZ-Squeeze, an inverted dish soap container that is designed to be easier to use and waste less product. Product packaging proclaims "No flip, no mess," and its inception was spurred by data finding 67% of consumers are using dish soap more frequently with each wash by applying it directly to dishes, said Jennifer Lo, P&G's North America brand director for hand dish products.

1/13/2022

Nestle has updated the formulation for its nutritional Carnation Breakfast Essentials ready-to-drink and beverage powder brand by lowering the added-sugar content by one-fourth. "Our team is proud to bring today's families the next generation of these beloved nutrient-packed products now with less added sugars, a modern design and improved sustainability," said Abigail Buckwalter, Nestle Health Science US president.

1/13/2022

Hershey is rolling out two Kit Kat extensions: the Duos Strawberry + Dark Chocolate bar and Kit Kat Chocolate Hazelnut Thins. Both items are joining the brand's permanent lineup.

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CSP
1/13/2022

Bowery Farming plans to launch new state-of-the-art indoor farming facilities to serve the Atlanta and Dallas-area markets, both of which are slated to open early next year. The company is funding the expansion in part with a new round of financing from investment firm KKR.

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FoodBev
1/13/2022

It will continue to be a seller's market for new and used farm equipment this year as demand outstrips supply, and sales are expected to grow by double digits, according to a survey by the Association of Equipment Manufacturers. More than 80% of members surveyed said they had trouble finding enough employees last year and 95% reported supply chain challenges and concerns over inflation.

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AGDAILY
1/13/2022

Digital strategies such as demand sensing and connected facilities are key to increasing end-to-end visibility for supply chains, enabling businesses to identify risks quickly and make supply chains more resilient, according to Shane Azzi, senior vice president and chief supply chain officer at Kimberly-Clark. "We must be able to see emerging risks further upstream and downstream than ever before," said Azzi.

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McKinsey