The news has been tough to interpret lately. On the one hand, we have just seen several earnings reports where F&B giants like PepsiCo and Coca-Cola have reported resilient demand for products despite price increases — and have indicated that prices may go even higher. On the other, several consumer surveys have shown that people are feeling the pinch at the grocery store.
Adding to the latter body of work is a new survey commissioned by Ingredient Communications showing that almost all (97%) of U.S. consumers have noticed price increases on food and beverage products in the past three months.
As a result:
Richard Clarke, Managing Director of Ingredient Communications, said: “Since we conducted our first price sensitivity survey, the war in Ukraine has exacerbated an already volatile situation. As well as difficulties sourcing certain raw materials, fuel costs have gone through the roof. With winter on the way in the western hemisphere, and no sign of Russia backing down, demand for energy will spike and it’s hard to see any short-term easing of the inflationary pressures that food companies and consumers are facing.”
By Krista Garver
Source: foodindustryexecutive.com
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
