Sluggish consumer demand ate into IFF volume numbers in the third quarter ended Nov. 30. Volume was challenged in two IFF segments, Nourish and Health & Biosciences, said Glenn Robert Richter, chief financial officer, in a Nov. 8 earnings call.
Despite halting production at its Wieze plant in Belgium after discovering salmonella in a production lot on June 27, Barry Callebaut AG achieved volume growth of 5.3% in the 2021-22 fiscal year.
“Sustainability is a driving force both of our purpose and our growth strategy,” said Juan R. Luciano chairman, chief executive officer and president of ADM, in an Oct. 25 conference call with analysts to discuss the company’s third-quarter financial performance.
Target Corp.’s food and beverage unit continues to serve as an engine for growth, recording 20 straight quarters of market share gains, said Brian Cornell, chief executive officer for the company.
Beyond Meat, Inc. is laying off approximately 19% of its workforce and has further reduced its fiscal 2022 sales outlook to a range of $400 million to $425 million. The company is scheduled to release its third-quarter financial results on Nov. 9.
Increasingly, Americans are looking for ways to diversify their home cooking repertoires. Protein is at the center of that decision-making process, and lamb is one of the proteins that more and more adventurous consumers are turning to.
Indulgent foods, including chocolates, confectioneries, savory snacks and ice cream, are likely to see a notable dip in retail sales as a result of inflation, according to market research firm GlobalData.
A handful of plant-based categories are seeing an uptick in adoption, but a much larger portion are seeing declines in penetration, according to data from the Brightfield Group.