The Hershey Co.'s latest quarterly report exceeded analyst estimates due to stronger-than-expected Halloween candy demand. Hershey has increased its full-year net sales forecast from 6% to 8% to 8% to 9% with organic sales increasing 4.4% last quarter.
Growing consumer interest in clean labels and health benefits from foods and beverages is driving growth in the natural colors market, said Emina Goodman, senior director of commercial color development for Archer-Daniels-Midland. Natural food color sales will increase 7% compounded annually worldwide through 2031, according to market research firm Fact.MR.
New Jersey-based coffee roaster and distributor WB Law Coffee has had to increase prices due to per bag costs of coffee beans growing roughly $1.11 since last year, said CEO David Mendez. Supply chain and labor shortages are driving up the cost of doing business, and "we are having to buy coffee much further out just to make sure that it's here on time," added Mendez.
A recent study from The Center for Food Integrity looked at what factors influence how comfortable consumers are with technological advances in agriculture, including their age and cultural differences. "People are less comfortable with technology being applied to animal agriculture than technology being applied to plant agriculture," added Charlie Arnot, CEO of CFI.
Idaho-based J.R. Simplot Co. and California-based Plant Sciences announced plans to create and grow gene-edited strawberries, similar to a process Simplot developed for potatoes. The gene-editing technology CRISPR-Cas9 will be used to reduce disease and spoilage and increase year-round growing.
A Brazilian company has launched an application that helps beekeepers look for promising locations and create relationships with nearby farmers. GeoApis -- which the creators call the "Tinder of Bees" -- can promote the safety of bees and farmers, ensuring that crops are pollinated and bees have reliable food sources.
The ready-to-eat popcorn/caramel corn category is expected to exceed $1.6 billion this year thanks to the pandemic-related spike in at-home snacking. PepsiCo's Smartfoods is the top-selling brand, followed by Hershey's Skinnypop, with recent debuts including Black & White Sugar Cookie Drizzled Popcorn from Sweet Chaos.
Third-quarter organic sales increased 4.1% for Beiersdorf's consumer business with its Nivea personal care brand and Aquaphor and Eucerin skin care brands delivering strong sales. Sun care and travel product sales are expected to revive next year, and retailers are responding well to a new Eucerin sun care line that is set to launch in early 2022, according to CEO Vincent Warnery.
Estee Lauder will donate up to $1 million to the International Space Station National Laboratory to research ways to reduce plastic waste and virgin plastic use. "We hope that the research will ultimately lead to the development of broad-use biopolymers or plastics alternatives that can translate to many industries, including the beauty industry," said Stephane de La Faverie, global brand president at Estee Lauder, in a statement.
Procter & Gamble's Head & Shoulders hair care brand is working with UK-based nonprofit The Diana Award and its anti-bullying program on a two-year initiative to curb bullying in schools. The #FreeTheShoulders campaign aims to enlighten 1 million people about stigmas related to bullying, including dandruff, via school programs.
- Page 1