MINNEAPOLIS – General Mills, Inc.’s management team is preparing for double-digit inflation in fiscal 2023 for ongoing disruptions in the cost of goods sold and the supply chain. “I think we expect a year of uncertainty, honestly, similar to the table set this year,” Kofi A. Bruce, chief financial officer, said in a conference call … Read more
CHICAGO – Inflation, ongoing supply chain challenges and other factors are likely to affect consumer purchasing and create headwinds for the snack category in the coming months. “A big challenge for snack players is to add value to products so that consumers are willing to pay higher prices,” said Anne Scott Livingston, a food and … Read more
Today’s food industry is based on transparency and a better understanding of food outbreaks, rather than treating their prevalence. Next-generation sequencing technology (NGS) technology for the detection of pathogens and the identification of strains are the latest developments in food safety analysis in the food industry to address these needs. Cost, scalability, timeliness, and accuracy … Read more
CHICAGO – “In the next 10 years, the last 50 years in the food industry will look like they’ve been in the rhythm of a snail,” said Don Thompson, Cleveland Avenue, Chicago’s chief executive and founder. “It will be hyperaggressive and hyperactive.” Mr. Thompson, a former president and CEO of McDonald’s Corp., spoke at the … Read more
CHICAGO – The confectionery industry overcame difficult comparisons in 2021 to achieve significant growth. Chocolate and non-chocolate dollar sales increased compared to 2020, and improved in 2019 compared to COVID. U.S. bakery sales reached $ 28.9 billion in the IRI market, including grocery stores, mass, club, curators, convenience, drugs. and dollar stores. When it comes … Read more