Arctic Coffee takes chill factor up a notch with new RTD iced coffee variants

April 13, 2024

Arctic Coffee, a UK-based chilled coffee brand, has enriched its selection by introducing a new high-protein caramel latte and a 1-liter mocha carton.

Additionally, the brand is unveiling a larger 1-liter carton of mocha iced coffee. These new offerings are crafted at Crediton Dairy, a dairy farm located in Devon, UK, and the proud owner of Arctic Coffee.

Arctic Coffee noted that the recent product developments were spurred by consumer demand for more budget-friendly and convenient ready-to-drink beverages, especially with coffee shop drink prices currently reaching record highs.

The freshly launched Arctic Coffee Hi-Protein Caramel Latte offers a delightful blend of caramel and chilled coffee. Packed with 15g of protein and only 125 calories per carton, it’s also low in fat and free from added sugars.

Continue Exploring: Blue Tokai Coffee in advanced talks for new raise at over $180 Million valuation

Abigail Kelly, Head of Marketing and Insight at Crediton Dairy, expressed, “Coffee shops have long been the pioneers of indulgent and adventurous coffee flavors. In a period where consumers seek compelling reasons to spend, innovation becomes pivotal in maintaining brand relevance. Our aim was to introduce similarly enticing and diverse options to supermarket shelves, catering better to the preferences of shoppers.”

Continuing, she emphasized, “Shoppers aren’t just seeking nutritional indicators and trendy flavors; they crave indulgence. The mocha flavor remains relatively scarce in the market, with few options delivering on the rich, indulgent chocolate experience. We’re poised to revolutionize that.”

The freshly introduced iced coffees are now accessible for purchase at leading UK retailers, priced at £1.15 and £2.20, respectively.

Continue Exploring: Victor Allen’s unveils delectable ice cream-inspired RTD iced coffees

McCain Foods completes acquisition of Strong Roots, strengthening position in growing market for sustainable frozen foods

SnackTeam

April 13, 2024

McCain Foods has finalized the acquisition of Strong Roots, an Irish plant-based frozen food manufacturer.

The acquisition comes in the wake of McCain and Strong Roots forming a strategic partnership in 2021, buoyed by a $55 million investment.

Strong Roots emphasizes genuine food that is both beneficial for the planet and people. Their array of vegetable-centric dishes, including meals, sides, and snacks, complements McCain’s current portfolio. This partnership ensures improved global access to high-quality, sustainable food for customers and consumers worldwide.

Through the acquisition, McCain anticipates broadening the reach of the Strong Roots brand into additional regions. This expansion aims to provide a wider array of eco-friendly, vegetable-focused products, catering to the growing demand from consumers seeking healthier, natural, and uncomplicated meal options.

Continue Exploring: JustDeliveries raises $1 Million to provide cold chain solutions for frozen food brands and restaurants

Jillian Moffatt, regional president of McCain GB and Ireland, expressed, “This investment reinforces McCain’s dedication to environmentally conscious food, allowing us to broaden our range of healthier choices produced, processed, and delivered sustainably. With a shared vision and values, we are thrilled to advance the global expansion of the Strong Roots brand.”

Peter Dawe, McCain Foods’ chief growth and strategy officer, remarked, “Our collaboration with Strong Roots since 2021 exemplifies our commitment to future investment and portfolio diversification, aligning with shifting consumer preferences. We are eager to enhance growth, extending access to natural, uncomplicated meals and ingredients across retail and foodservice sectors.”

Samuel Dennigan, founder and CEO of Strong Roots, emphasized, “Our collaboration with McCain has fueled significant growth, and this step forward will allow Strong Roots to uphold its commitment to sustainability while driving innovation to introduce delightful, vegetable-centric products to a broader global audience.”

Under the leadership of CEO Charlotte Turton, Strong Roots will continue to operate as a separate entity. Founder Samuel Dennigan will collaborate with the team to drive continued portfolio innovation and brand expansion.

The specific terms of the agreement remained undisclosed.

Continue Exploring: BigBasket teams up with Chef Sanjeev Kapoor to introduce frozen foods brand ‘Precia’, targets INR 100 Crore in online sales by 2026

Indian coffee growers rejoice as robusta prices hit historic high of INR 10,080 per 50 kg bag

SnackTeam

April 13, 2024

India’s coffee industry is experiencing a windfall as robusta coffee bean prices skyrocket to an unprecedented INR 10,080 per 50 kg bag as of Friday. This price hike represents a historic high since the establishment of coffee estates in the Western Ghats region during the 1860s by the British.

While Arabica coffee, known for its creamy layer in a shot, has exhibited a relatively stable pricing trend, robusta prices have typically fluctuated between INR 2,500 to INR 3,500 per 50 kg bag for almost 15 years.

The spike in robusta coffee prices has brought a sense of relief and happiness to coffee farmers, particularly those with smaller farms who predominantly grow robusta because of its lower production expenses in contrast to Arabica. These farmers have grappled with various challenges over the past decade, including unpredictable rainfall, crop damage caused by wildlife, and escalating input and labor expenses.

G Nithin, a coffee cultivator in Chikkamagaluru, shared his excitement, saying, “I could hardly believe it, not even in my wildest dreams, that prices would hit the INR 10,000 milestone.” Nithin had already offloaded a portion of his inventory expecting prices to climb even higher.

Continue Exploring: India’s coffee exports soar by 13.35% in Q1 2024, Robusta demand leads the way

As per Nanda Belliappa, chairman of the Codagu Planters Association, the rise in robusta coffee prices can be explained by the fundamental principles of supply and demand. Factors like reduced coffee output in leading robusta-producing nations because of unfavorable weather conditions and shifts in cropping patterns have played a role in this boon for Indian growers.

Insiders at the Coffee Board of India also point to the price surge being linked with significant robusta coffee producers like Vietnam and Indonesia diversifying into more lucrative crops such as dragon fruits and avocados. Moreover, there’s a rising demand for coffee in the cosmetics sector.

Karnataka alone accounts for 70% of India’s total coffee production, with Kerala, Tamil Nadu, and other districts contributing 83% of the total. However, Karnataka’s coffee plantations have had difficulties recently. Due to declining profits and a labour scarcity, many farmers have sold their land to real estate developers or turned it into tourist attractions.

Somaiah, a coffee farmer, highlighted, “There’s a significant shortage of skilled workers to manage the estates, along with a sharp rise in labor expenses.” Planters have increasingly turned to migrant laborers from Bengal and Assam, who bring expertise from their work in tea estates.

Additionally, wildlife encroachment presents a substantial risk to coffee plantations, as elephants, bisons, monkeys, and giant squirrels cause damage to crops while seeking food and water.

Despite these obstacles, the upsurge in robusta coffee prices provides a ray of hope for Indian coffee growers, indicating a possible revival for the industry following years of hardship.

Continue Exploring: Blue Tokai Coffee in advanced talks for new raise at over $180 Million valuation

Ministry directs e-commerce platforms to remove Bournvita and similar beverages from ‘health drinks’ category

SnackTeam

April 13, 2024

The Ministry of Commerce and Industry has issued an advisory to e-commerce entities, instructing them to exclude all beverages, including Bournvita, from the classification of ‘health drinks’ on their websites and platforms.

The Ministry, in a notification dated April 10, stated that the National Commission for Protection of Child Rights (NCPCR), a statutory body established under Section (3) of the Commission of Protection of Child Rights (CPCR) Act, 2005, after conducting an inquiry under Section 14 of the CRPC Act 2005, has determined that there is no specific definition of a ‘health drink’ under the FSS Act 2006, as per the rules and regulations submitted by FSSAI and Mondelez India Food Pvt Ltd.

Continue Exploring: Zerodha CEO Nithin Kamath calls for front-of-pack labeling amid Bournvita controversy

The advisory comes in the wake of an investigation by the NCPCR, indicating that Bournvita exceeds the acceptable sugar levels.

Earlier, the NCPCR pressed the Food Safety and Standards Authority of India (FSSAI) to take action against companies that violated safety standards and guidelines by marketing power supplements as ‘health drinks’.

Continue Exploring: NCPCR demands removal of misleading ads by Bournvita over allegations of high sugar content

According to the regulatory body, the term ‘health drink’ lacks a specific definition in the country’s food laws, and presenting a product as such violates regulations.

Earlier this month, the FSSAI also instructed e-commerce platforms to refrain from categorizing dairy-based or malt-based beverages as ‘health drinks’.

Continue Exploring: FSSAI directs e-commerce companies to stop labeling dairy and cereal-based beverages as ‘health’ or ‘energy’ drinks

The discussion surrounding the potential health concerns of Bournvita first surfaced when a YouTuber criticized the powdered supplement in a video, pointing out its high sugar content, cocoa solids, and harmful additives. The video implied that these ingredients might present notable health hazards to children, potentially including an increased risk of cancer.

Continue Exploring: Bournvita refutes social media influencer’s high sugar content claims, deems video ‘unscientific’

Caribbean conglomerate ANSA McAL to launch Carib beer in India next year

SnackTeam

April 13, 2024

ANSA McAL, a Caribbean conglomerate, is set to launch its renowned Carib beer brand in India next year.

The Trinidad and Tobago-based company is collaborating with local distiller Globus Spirits for a venture in India.

Globus ANSA, a new venture, is set to produce Carib within the country. ANSA McAL said it is planning to introduce Carib in India in January.

According to a company representative, “trial brewing will commence in July/August.” “Three trial runs will be conducted by our quality team while collaborating with Globus to choose an appropriate brewery. If all goes well, we plan to introduce Carib in India by January 2025.”

Continue Exploring: Woodsmen Mountain Whiskey raises $1.5 Million in Series A funding led by FinFirst Group and Anthill

Globus Spirits’ business encompasses a range of products, including sanitizer, CO2, bioethanol, and consumer spirits brands.

The company operates three consumer spirits distilleries located in Rajasthan, West Bengal, and Haryana.

ANSA McAL announced that Carib will first be available for purchase in the state of Uttar Pradesh.

“We are enthusiastic about the growth potential in the country. Over the past few years, we have been closely studying the Indian market, gaining insights into its key players and brands,” stated the spokesperson.

In a separate statement upon announcing the venture, ANSA McAL CEO Anthony Sabaga III expressed confidence, stating, “We believe our partnership will enable us to meet the increasing demand for premium beverages by enticing consumers with our unique products.”

In a filing with the stock exchange, the publicly listed Globus Spirits stated that the “primary goal” of the “jointly owned venture” is to produce and distribute beer in India, with an “initial emphasis” on Carib.

The spokesperson from ANSA McAL suggested that the companies aim to develop a variety of brands for sale in India.

Continue Exploring: Bira 91 secures $25 Million funding led by Tiger Pacific Capital for expansion amidst robust growth trajectory

“Our first priority is to introduce Carib beer. Nevertheless, we are lucky to have a wide variety of products that we think will appeal to the Indian market,” the spokesman said.

“Our primary focus will be on the Carib brand.” However, we are still open to exploring more third-party brands in the future,” they stated.

ANSA McAL’s Carib enterprise operates four breweries: one in Trinidad and Tobago, another in Grenada, a third in St. Kitts and Nevis, and a fourth in the US. The company distributes beers and RTDs in over 30 countries.

During the initial nine months of Globus Spirits’ fiscal year 2024, it recorded revenue of INR 18.2 billion ($218.3 million), with one-third originating from its consumer business.

Despite a 2% decline in volumes, the revenue generated by Globus Spirits’ consumer business increased by 6% during the nine-month period.

The company, renowned for brands such as Governors’ Reserve whisky and Snoski vodka, estimated its consumer sales to be 11 million cases. Additionally, its bulk alcohol sales were estimated to be around 160 million liters.

Globus Spirits also operates an RTD division named Bored Beverages, established in 2020, featuring brands like Not Out.

Continue Exploring: Bacardi India intensifies focus on premiumization as demand for high-end spirits surges

Milk consumption in Germany sees further decline in 2023, cheese exports reach record high

SnackTeam

April 13, 2024

Milk consumption in Germany experienced another decline in 2023, as indicated by government data.

Preliminary data released by the Bundesinformationszentrums Landwirtschaft (BZL) indicates that the per capita milk consumption in Germany dropped to under 46kg in 2023, down from 46.1kg in 2022, marking a continuation of the previous year’s record low.

In the same period, the production of drinking milk decreased by nearly 1%, totaling approximately 4.2 million tons compared to the preceding year.

Per capita cheese consumption declined from 24.6kg to 23.8kg, marking a reduction of over 3%.

Continue Exploring: Califia Farms launches plant-based milk matching dairy nutrition levels

Nevertheless, cheese production rose to 2.66 million tons in 2023 from 2.64 million tons in 2022, driven by increasing exports.

In 2023, Germany achieved a record-breaking export of cheese, totaling 1.41 million tons, marking a 6.6% increase compared to the previous year.

The dairy cow population saw a 2.5% decrease in 2023, amounting to around 3.7 million animals.

As per the BZL, butter consumption has also seen a decline in Germany.

Continue Exploring: Portugal’s Ministry of Health to roll out Nutri-Score labeling system for food products

The per capita consumption of butter, milk fat, and milk fat products dropped by 1.4% to 5.6kg in the country.

Butter production experienced a nearly 4% decline last year, while the overall production of the “butter, milk fat, and milk fat products” category saw a slight increase of 1.8% to 481,000 tons.

Earlier this month, the BZL reported that meat consumption in Germany reached a new record low in 2023.

Consumption decreased by 0.8% year-on-year to 51.6kg, setting a new record low for the country, following a decline to 52kg per person in 2022.

Continue Exploring: Germany’s meat consumption reaches all-time low in 2023

Taco Bell introduces refreshing Agua Frescas beverages in California!

SnackTeam

April 13, 2024

Taco Bell has introduced a fresh beverage line called Agua Frescas, available exclusively at one location in Irvine, California.

Enhanced with authentic fruit chunks and crafted with a green tea foundation, the drink debuts in flavors like Strawberry Passionfruit, Peach Mango, and Dragonfruit Berry.

The Agua Frescas collection is available in a 16oz cup size, priced at $3.99.

Customers have the option to place their orders in person at the 2222 Barranca Parkway location.

Continue Exploring: Yum Brands goes high-tech: AI set to reshape operations at Pizza Hut, KFC, and Taco Bell

The exclusive collection will be accessible until late May 2024 or while stocks last.

Taylor Montgomery, the Chief Marketing Officer of Taco Bell, expressed, “Our aim is to make our beverages as iconic as our food.”

“Our new Agua Refrescas will aid us on our journey to establish Taco Bell a beverage destination. They are the perfect, vibrant pairing with anything our fans desire from Taco Bell.”

Following recent trials of Coffee Chillers and Churro Chillers in Southern California, Taco Bell is actively exploring new additions to its beverage menu with this initiative.

Drawing inspiration from Mexican flavors, Coffee Chillers and Churro Chillers were exclusively featured as limited-time menu items at the Santa Margarita Parkway store in Mission Viejo and the Barranca Parkway store in Irvine.

Continue Exploring: Taco Bell and Kraft Heinz unveil craving kits, allowing fans to recreate iconic fast-food flavors at home

The Coffee Chillers were served in a 16oz cup, featuring a flavored base, filled with blended iced coffee, and topped with a layer of cold foam.

The Churro Chiller was also offered in a 16oz cup, featuring a flavored base, filled with a blended sweet shake, and topped with cold foam and churro crumbles.

The Sweet Vanilla Churro Chiller also sported a purple hue.

Tim Hortons unveils exciting new Iced Capps and refreshing cold drinks menu across Canada!

SnackTeam

April 13, 2024

Tim Hortons new Iced Capps and Cold Drinks

To celebrate 25 years of its beloved Iced Capp, Tim Hortons, the Canadian restaurant chain, is introducing the deliciously new Caramilk Iced Capp and reintroducing the fan-favorite Oreo Double Stuf Iced Capp.

The Caramilk Iced Capp blends the signature Tims Iced Capp base with milk chocolate chunks, topped with whipped cream and drizzled with caramel syrup.

The Oreo Double Stuf Iced Capp features Oreo cookie crumbles, vanilla syrup, a creamy layer of vanilla-flavored whipped topping, and an extra sprinkle of Oreo crumbles for added delight.

Continue Exploring: Tim Hortons expands menu selection with delectable loaded wraps and bowls

Tim Hortons is unveiling its complete array of refreshing cold beverages for the summer of 2024. Among them is the Mango Starfruit Sparkling Quencher, delivering a taste of the tropics, and the Wildberry Hibiscus Sparkling Quencher, blending fruity and floral tones for a delightful sip.

Another standout option is the Tiramisu Cold Brew, crafted with 16-hour steeped espresso-infused cold foam, combined with tiramisu syrup, and finished with a dusting of cocoa powder on top.

Carolina Berti, Tim Hortons’ Vice President of Category and Innovation, expressed, “As my favorite season arrives—cold beverage season—we’re thrilled to offer a range of incredibly delicious, flavorful, and thirst-quenching options to savor throughout the spring and summer months.”

“And it’s really exciting to be commemorating the significant anniversary of the much-loved Iced Capp, a beloved frozen beverage that is exclusive to Tim Hortons and a summertime mainstay for a great number of our guests across Canada.”

These refreshing spring and summer beverages are now available at select Tim Hortons locations throughout Canada and can also be ordered for delivery via the Tim Hortons app.

Continue Exploring: Tim Hortons partners with BAILEYS for a unique non-alcoholic menu

In February 2024, the restaurant chain broadened its hot beverage selection by introducing the Fudge Brownie Latte and the Marble Swirl Hot Chocolate.

Both beverages are crafted using freshly ground espresso beans and can be personalized with either dairy or dairy alternatives.

Bastian Restaurant expands its reach, now open in Bengaluru

SnackTeam

April 13, 2024

Bastian Hospitality Private Limited has launched Bastian Garden City in Bengaluru.

Situated in the Garden City, this marks the third Bastian venture in India, following two in Mumbai, situated in Bandra and Dadar respectively. Reflecting the essence of its Mumbai counterparts, Bastian in Bengaluru occupies a breathtaking space adorned with décor reminiscent of stylish holiday destinations worldwide. Its captivating boho-chic ambiance and elegantly understated interiors, featuring hues of beige, white, and taupe, serve as an ideal canvas for striking design features such as an imposing bar, gently swaying vertical ceiling fans, and a contemporary chandelier that casts a soft, inviting glow, setting the perfect evening atmosphere.

Ever since its inception in 2016, Bastian has garnered acclaim for its culinary delights—a fusion of daring experimentation and beloved comfort fare. True to its reputation, Bastian Bengaluru presents a menu brimming with decadent, palate-pleasing dishes drawing inspiration from both American and Asian cuisines. Complementing this gastronomic journey is a meticulously crafted bar selection, ensuring Bastian remains a premier destination on Mumbai’s nightlife scene.

Continue Exploring: Radisson Blu Kaushambi delights palates with the launch of Skygrill Restaurant, featuring Lebanese and Mediterranean cuisine

Ranjit Bindra, the founder and CEO of Bastian Hospitality Private Limited, expresses, “Bastian emerged as a dream brand in Mumbai, the City of Dreams, and now finds its debut in Bengaluru, the Garden City, known for its youthful energy and vibrancy. Our vision has always centered on crafting a hospitality brand renowned for its exceptional dining and bar experiences. We’re thrilled to kick off our nationwide expansion with this exciting launch in Bengaluru. Drawing inspiration from our global adventures and trends, we’ve adeptly tailored each offering to resonate with our local patrons. We eagerly anticipate our new audience in Bengaluru embracing the Bastian experience, a journey we’ve poured our hearts into creating.”

Gold price surge dampens demand, Senco Gold shifts focus to diamond jewellery and consumer schemes

SnackTeam

April 13, 2024

Senco Gold Ltd, a prominent player in the jewellery retail sector, stated that the recent sharp surge in gold prices due to geopolitical reasons has dampened demand. The company emphasized that the industry’s first-quarter performance hinges upon ongoing buying propensity during festive and auspicious New Year celebrations. Based in Kolkata, the retail chain has implemented a range of measures to address the demand situation, including a shift towards diamond-studded gold jewellery and consumer-centric schemes.

Nevertheless, a senior company official remarked that these measures might not fully offset the 15-20 percent decline in volume observed in March and April.

Senco Gold’s Managing Director and CEO, Suvenkar Sen, highlighted the significant fluctuations in gold prices, noting a recent 10 percent increase in the past month and a 23-25 percent rise over the last six months. This pronounced volatility has adversely affected retail purchasing sentiment, resulting in a notable 15-20 percent decline in industry volumes, Sen stated.

Eid, Bengali New Year, Akshay Tritiya, and various regional New Year celebrations are anticipated to boost demand in stores. However, some retailers may face obstacles due to cash movement restrictions enforced by the election model code of conduct.

Continue Exploring: Senco breaks new ground as first Indian jewellery brand to join ONDC network

Senco disclosed a 23 percent increase in its consolidated net profit, reaching INR 27.6 crore for the quarter ended June 2023. This growth was supported by a 30 percent expansion in revenue, totaling INR 1,305 crore.

He did acknowledge, however, that in terms of value, the market is anticipated to remain stagnant, given that gold prices are hovering around INR 70,000 per 10 grams.

Sen anticipates that the year-on-year fourth-quarter sales, which concluded in March 2024, will exhibit a flat performance.

The company is currently in a silent period for results, therefore Sen declined to divulge more specific details.

Senco announced the introduction of a price guarantee scheme for six months as part of the Marigold scheme. Traditionally, the industry offers such guarantees only up to one month until Akshay Tritiya. With this scheme, customers can book gold and secure immunity from price rises.

During this period, the company is additionally providing discounts on making charges to stimulate sales. Moreover, it offers DigiGold, enabling customers to invest in gold for as little as INR 300.

Continue Exploring: Top jewellery retailers hold back on lab-grown diamonds citing low consumer demand

Sen stated that the company has shifted its focus towards diamond-studded gold jewellery, a move that has either minimized the price difference or even rendered the ornaments less expensive, given their composition of 14-carat gold.

He anticipates that the contribution of diamonds, including lab-grown ones, currently comprising 11 percent of total revenue, will rise to a minimum of 15 percent within the next 2-3 years.

The company recorded a revenue of INR 4,104 crore and a net profit of INR 148.8 crore for the nine-month period that ended on December 24th.

1...538539540...1,401 Page 539 of 1,401

NewsHub