ANALYSIS: Chiming in on the Mid-Year Turkey Market

As we usher in Q3, and in the absence of any major deviations in this week’s overall market environment, we thought it would be a great opportunity to break away from...

General Mills Reports Results for Fiscal 2020 and Outlines Fiscal 2021 Priorities

General Mills reported results for the fourth quarter and fiscal year ended May 31, 2020. Fiscal 2020 was a 53-week year, with the extra week falling in the fourth quarter.

“I’m proud of the way our organization has remained focused on serving the needs of our consumers and communities while protecting the health and safety of our employees throughout the COVID-19 pandemic,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “Amid significant challenge and change in the world around us, General Mills adapted and executed in fiscal 2020 to deliver outstanding financial results while fulfilling our purpose of making food the world loves. We’ve demonstrated extraordinary agility to meet the unprecedented increase in demand for food at home and to win across our categories.

“As we turn to fiscal 2021, we’ll maintain a sharp focus on the near-term opportunity to meet continued elevated demand while continuing to advance our long-term strategies by...

ANALYSIS: U.S. Protein Inventories Drawn Down During Plant Closures

U.S. cold storage stocks declined across the beef, pork, chicken, and egg categories in May as product was needed to...

Outlook on the Global Egg Protein Industry to 2027

According to ResearchAndMarkets, the global protein egg market accounted for $28.41 billion in 2019 and is expected to reach $48.09 billion by 2027, growing at a CAGR of 6.8% during the forecast period.

Consumer awareness about a healthy diet and increase in demand for proteins as nutritional and functional ingredients are the major factors propelling market growth. However, the surge in demand for plant-based proteins is hampering the growth of the market.

Based on the type, the egg white powder segment is going to have lucrative growth during the forecast period owing to the increasing consumer attention as they contribute to...

COVID-19 Impact on Alternative Protein Industry

The on-going COVID-19 pandemic is re-shaping everything from the global economies to product categories, pricing, and stock availability to consumer behavior.

The pandemic has also placed the spotlight on meat supply and food security globally. The spotlight on meat supply has been evident in both developed and emerging markets amidst disruptions to supply chains and panic buying and stockpiling, following announcements of lockdowns and social distancing measures...

NAMI's Response to New York Times' "End of Meat" Op-Ed

Like many sectors of the economy, meat and poultry production has been challenged during the COVID crisis. This leads to the popular pundit sport of writing the industry’s eulogy. The most recent comes from vegetarian and author Jonathan Safran Foer here in the New York Times. Safran Foer says COVID-19 has shown that for Americans, the end of meat is here.

From the start of the pandemic, it was clear meat is essential to Americans. Consumers were flooding grocery stores and buying necessities. Meat was among the few key items, like toilet paper and hand sanitizer, which they bought immediately and in historically high quantities. Meat continues to experience...

Lightlife Reinvents Plant-Based Protein Line with Simpler Ingredients and New Look

Lightlife, owned by Greenleaf Foods, SPC, announced sweeping changes to its product portfolio to deliver the cleanest ingredient labels in the plant-based meat category. Driven by growing consumer demand for products with ingredients they understand, Lightlife is making it easier for consumers to make healthier food choices by offering plant-based meat products made only with simple, recognizable ingredients, like pea protein, brown rice, dried red bell pepper, and beet and cherry powders.

To define its new brand and business strategy, Lightlife conducted a comprehensive research study, connecting with more than 11,500 consumers to better understand their values and expectations from plant-based protein. The study uncovered five unique demand spaces that define specific consumer needs for...

Consumers Continue to Purchase Meat from Restaurants and Retail Despite Coronavirus Concerns

Fear of the unknown proved to be true when observing consumers’ reaction to the emergence of COVID-19. When the virus first made its way to the United States, panic ensued. Grocery store shelves were depleted, and necessities like toilet paper were nowhere to be found. Consumers have come accustomed to finding resourceful solutions and are willing to be more flexible than ever before.

However, the coronavirus has thrown yet another curveball, with many meatpacking plants either temporarily closing or reducing operations. While consumers have stocked up on meat, there seems to be less panic this time around.

When Datassential asked consumers what best describes the way they eat today, nearly 69% described themselves as...

Imports to See Double-Digit Annual Declines Even as Stores Begin to Reopen

Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.

“Factories in China are largely back online and stores that closed here in the U.S.. are starting to reopen, but volume is far lower than what we would see in a ‘normal’ year,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Shoppers will come back and there is still a need for essential items, but the economic recovery will be...

Is America Headed Towards a Meat Shortage?

Price gouging. Panic buying. Meat shortages. These phrases have dominated recent talk about the nation’s overall meat supply as a wave of plant closures and worker absenteeism rattle the supply chain and generate logistical hurdles. Increasingly, industry participants and consumers alike are uttering the unnerving question: Is America on the cusp of a nationwide meat shortage?  

There are many factors at play when assessing the current supply and demand patterns in the midst of a pandemic. Notably, a second wave of panic buying, and the subsequent run-up in wholesale values, has recently...

ANALYSIS: Heavy Birds Ground Breast Meat Values

Although the impact that COVID-19 has had on the turkey industry is continuing to develop, one of the most severe implications of the virus, so far, has been...

Rabobank: Initial Impacts of Covid-19 on the Brazilian Consumer

The coronavirus pandemic has inflicted significant pain on the Brazilian consumer, with unemployment rising and incomes set to decline in the coming months. Beyond the initial shock of the lockdown period, in which supermarkets and pharmacies have done well, consumer habits are set to change and resemble some of the trends seen during the last recession in 2015-2016.

Initial Shock and Wider Impact Ahead

- A large part of the country remains in social isolation mode, with no clarity as to when and how such measures will be relaxed or lifted. São Paulo state is signalling a continuation of the quarantine period until at least April 22.

- On April 13, Santa Catarina became the first state to announce the reopening of some retailers, with...

Technomic Forecasts Recovery Process for Foodservice as a New Normal Takes Shape 

This information is pulled from Technomic’s Foodservice Impact Monitor, which shares sentiment and behavior tracking to help support the transition from crisis response to near- and long-term planning. View some highlights pulled from the most recent report below, focusing more on recovery than COVID-19 responses, as we continue to enter a “new normal” in the foodservice industry.

The ‘Four S’ Process of Recovery

Survival. The first month of the recovery was focused on containing and minimizing the economic damage that the pandemic was causing. Restaurants scrambled to adjust to off-premise service or closed entirely opting to focus on lobbying efforts to gain...

Pantries Padded with Produce as North Americans Prepare for the COVID-19 Long Haul

Much like the sentiment felt among European consumers, many North Americans expect the impact of the novel coronavirus (COVID-19) to last for quite some time. That means the inordinate rise of in-home food and beverage consumption we’ve seen this year will likely continue for the foreseeable future. While the health and immune-boosting properties of fresh produce have brought growth to the category, many consumers have sought frozen and pantry-friendly fruits and vegetables much more than they did before the outbreak.

But many pre-outbreak behaviors and tendencies will likely stay in the rearview mirror as communities hunker down at home in efforts to mitigate further spread of COVID-19. Overall, it’s left many consumers fearful that the worst has yet to come in terms of...

ANALYSIS: Turkey Production: Getting Back to Basics

Amidst the unpredictable set of circumstances that the turkey industry has been forced to contend with lately, this week, we thought it would be a good opportunity to get back to basics and instead, focus on some known variables...

Technomic Projects Foodservice Sales for March to Fall Between a 31% to 48% Drop from February 

The first two months of the year were shaping up well for the foodservice industry, with a roughly 4% increase in sales year over year for the months of January and February—months which are typically slower historically. Typically, March sees 12% higher sales than February—the lowest month of the year. Right now, our preliminary projections for March fall between a 31% and 48% drop in sales from February—a net loss of 43% to 60% from the expected monthly sales gain typically seen in March.

Sales and traffic declines more extreme for beyond restaurant operators

More than half (57%) of beyond restaurant operators report a sales decrease of more than 70% over the prior year, and 63% report a traffic decrease of more than...

Instacart Launches New Customer Product Features as Demand for Online Grocery Surges

Instacart announced the launch of two new product features designed to speed up service and unlock more delivery windows as demand for grocery delivery continues to surge in North America. The new features - "Fast & Flexible" and "Order Ahead" - which the company has been testing over the last few weeks, increase delivery availability for customers across North America and provide more choice and convenience for customers who are moving their weekly grocery shop online.

Instacart has become an essential service for millions of people in the U.S. and Canada who are depending on the platform to safely, reliably and affordably get the groceries and household goods they need. Last week, the company saw overall customer order volume up by more than...

ANALYSIS: Fresh 50s Trend Sharply Lower

The market for fresh 50s closed sharply lower for the second day in a row. The weighted average moved about 21% lower on Tuesday and another...

ANALYSIS: Pork Bellies Collapse to 1999 Levels

The last time pork bellies were trading at this level, you were probably more concerned with Y2K than what to do with excess bellies. We’re forced to turn the history books back to 1999 to see...

Asian Consumers Are Rethinking How They Eat Past COVID-19 

Consumers across Asia have signaled their eating habits may change permanently once the world moves beyond the impact of the novel coronavirus (COVID-19). In an exclusive Nielsen study of 11 Asian markets, only Japanese consumers say they are less likely to change their eating habits as a result of the global pandemic.

The study, the first in a wave of Nielsen explorations underway across 74 markets, indicates that consumers in Chinese mainland, Hong Kong, South Korea, Malaysia and Vietnam will rethink and re-prioritize the place eating at home has in their lives. In Chinese mainland, 86% said they would eat at home more often than before the outbreak. In other markets, a similar trend was observed with 77% of consumers in Hong Kong planning to eat at home more often than...

Retail Fresh Produce Demand Soars, but Landmines Remain During Coronavirus Pandemic 

The COVID-19 situation has created a surge in fresh produce demand in retail grocery, but challenges around foodservice, logistics, macroeconomics, and labor availability pose ongoing threats. While fresh produce sales through foodservice channels have largely dried up, consumers continue to stock up on grocery items, including fresh produce.

Logistics have been strained, both globally and domestically, but the industry is adapting rapidly. The imminent global recession and rapid climb in the value of the US dollar will continue to threaten global demand, even after the virus is contained. Labor availability constraints and increases in...

ANALYSIS: Assessing COVID-19’s Initial Impact on the Chicken Market

Although COVID-19 is a relatively new challenge here in the US, its acute and unparalleled impact on spot market dynamics cannot be overstated...

ANALYSIS: Heightened Buyer Urgency Contributing to Reduced Turkey Stocks

Despite the pre-occupation with COVID-19 and its impact on the global protein markets as a whole, turkey freezer stocks are providing...

Meat Sales Surged 77% the Week of March 15 Amid Growing COVID-19 Cases

The week ending March 8 saw a fast acceleration of meat sales in dollars, units and volume. As the number of school closures, social distancing guidelines and other COVID-19 related measures significantly sharpened the subsequent week, sales surged along with it. Thanks to the heroic efforts of everyone in the meat and poultry industry, the supply kept flowing. Retailers restocked their meat cases again and again as shoppers across the country stocked up on meat and poultry to feed their families nutritious meals.

Meat department sales without deli meat were up an incredible 76.9% over the week ending March 15, 2020 versus the comparable week in 2019, according to data insights firm IRI, and deli meat sales advanced...

ANALYSIS: Shell Egg Prices Soar to Record High Levels as COVID-19 Demand Persists, Inventories Drop

U.S. shell egg prices soared to fresh all-time highs today, as retail demand continues to come in at levels never-before seen due to COVID-19. The early round of buying witnessed a few weeks ago was...

Instacart Announces Plans to Bring on 300,000 New Personal Shoppers Over the Next 3 Months

Instacart announced plans to bring on an additional 300,000 full-service shoppers over the next 3 months to meet the growing customer demand for grocery delivery and pickup in North America. Instacart has become an essential service for millions of customers who are relying on the platform to get access to the groceries and household goods they need in a safe, reliable and affordable way.

In the last few weeks, the company has seen order volume grow by more than 150% year-over-year, with average customer basket size also increasing by 15%. By more than doubling the size of its full-service shopper community, Instacart will be better positioned to meet this increase in...

Emerging Consumer Demands Lead to Increasing Role of In-Store Technology 

According to Nielsen, brick and mortar retail may be preparing for a resurgence. Consumer demands are pointing to an increasing role of technology in stores. Investments in in-store technology spiked nearly 60% to $3.7 billion in 2019. Research also forecasts that digital natives will open another 850 physical stores by 2023.

Trends for fast-moving consumer goods may follow, as consumers have never been more receptive to technology than they are currently. Approximately 64% of consumers claim their lives are getting busier, providing...

Grocery Stores Start Cutting Hours and Limiting Quantities as Coronavirus Incites Panic Buying 

Consumers are flocking to supermarkets and stockpiling supplies in preparation to quarantine due to the coronavirus outbreak. Some of the largest grocery chains are announcing measures to maintain supplies and keep stores clean. Across the country, toilet paper and canned foods are being completely bought up as cases continue to rise.

Now, grocers are beginning to cut hours and are limiting sale quantities per customer on items that are in high demand.

Walmart is taking preventative measures to keep stores clean and maintain a healthy environment. The retailer is also pursuing easier ways to sanitize shopping carts, and are evaluating whether to modify store hours at some 24-hour facilities to allow for additional cleaning. Walmart said in a press release that they will be working to...

Coronavirus Impacts Meat Consumption in China 

One of the many effects from the coronavirus outbreak in China is the impacts it has had on food consumption and the demand for meat.

At the height of the outbreak, nearly all foodservice establishments were closed, with some attempting to resume business now. However, restaurants that have managed to remain open are facing a sharp decline as consumers are staying indoors. A few restaurants switched to a delivery-only model during this time to help cash flow, but consumers are still hesitant of ordering and interacting with delivery drivers.

According to Darin Friedrichs, Senior Asia Commodity Analyst at INTL FCStone, consumer sentiment has been improving as China continues to...

Tyson Foods States Company is Uniquely Positioned to Meet Global Protein Demand 

Tyson Foods, Inc. CEO Noel White reiterated today at the Consumer Analyst Group of New York annual conference that, “Tyson Foods’ scale, diversified portfolio, international footprint and financial track record uniquely position the company for continued, long-term growth at a time when there’s growing global demand for protein.”

Dean Banks, who recently joined Tyson Foods as its president, said, “We have a global opportunity and innovation across our portfolio is the key,” adding, “I have a passion for innovation and have been impressed with the innovation culture at Tyson Foods.”

Banks highlighted Tyson Air Fried Perfectly Crispy Chicken, Tyson Instant Pot Kits, Jimmy Dean Omelet Minis, Jimmy Dean Loaded Sausage Bites, Hillshire Snacking Bruschetta and Pact as examples of...

Cargill Opens a Culinary Experience Hub in Belgium

Cargill has opened a Culinary Experience Hub in its research & development site (R&D) in Vilvoorde, Belgium. Customers from across the EMEA (Europe, Middle East and Africa) region are invited to solve their food formulation challenges and co-create new ingredients and recipes alongside Cargill’s food experts. The facility features a bakery pilot plant, a regional frying center and a culinary tasting area with capabilities for dairy, beverage, bakery, convenience foods and culinary applications.

Vilvoorde is one of Cargill’s first culinary experience centers. The center is specialized in research and development into new food ingredients and recipes, as has a professional chef, who works with customers to either adapt existing products to evolving consumer demands, or to develop new products from...

Rabobank: Poultry Q4 2019 Outlook 

Global poultry markets are expected to see some recovery in the coming months. However, this will be under fragile conditions. Key concerns are the ongoing oversupply situations in many global markets, like the EU, US and South Africa. Actually, only disease-affected China and Mexico, and Brazil (due to the combination of supply reduction and improved export demand), are performing relatively well. Other markets are suffering from oversupply.

Therefore, more disciplined supply should be the key to returning to profitability for the global poultry industry in 2H 2019. Notable positives are the expected ASF-related strength in pork prices, and the limited feed price upside risks, given the relatively good feed grain supply position expected in...

Food And Beverage Industry Seen As Growth Market in U.S. Retail Real Estate Sector

A healthy appetite for food and beverage businesses continues to fuel significant growth in one of the hottest areas in the U.S. retail real estate sector, according to BBG, a leading due diligence commercial real estate firm.

In U.S. cities across the country, more restaurants, bars and grocery stores are opening or expanding operations to meet growing demand for these services, as a result of an ongoing demographic shift in how and where people live, work and play.

That has led to these businesses growing their share of total retail spending, from 24.3 percent during the past decade, compared with 22.7 percent prior to the 2007-2008 recession, according to one recent industry report. F&B sales now account for nearly...