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☆ Halloween could taste different this year thanks to soaring cocoa prices
▼ + stars: | 2024-10-20 | by ( Erika Tulfo | ) edition.cnn.com time to read: +5 min

That’s because cocoa prices have more than doubled since the start of the year and have remained at record highs, according to Wells Fargo data shared with CNN. The surging prices have caused grief for confectioners during prime chocolate sales seasons like Valentine’s Day and Easter. The company’s president, Michele Buck, said in a call in August with analysts that cocoa prices are “not sustainable,” and pointed toward higher prices. Though hope is on the horizon, experts project cocoa prices will remain high until at least September 2025. A customer shops for Halloween candy at a Walmart Supercenter on October 16, 2024 in Austin, Texas.

Persons: it’s, ”, David Branch, Francis Kokoroko, Reuters El, Michele Buck, Hershey, Joseph , Missouri Nick Ingram, Sally Lyons Wyatt, Mars, Brandon Bell, ” Lyons Wyatt Organizations: CNN, Wells, Food Institute, Reuters, International Cocoa Organization, Hershey, Walmart, Getty, ’ Association, NCA, “ Locations: Wells Fargo, West Africa, Osino, Eastern Region, Ghana, St, Joseph , Missouri, Austin , Texas

☆ Private-label grocery brands boomed during inflation. Prices are down, but store-brand items keep going higher
▼ + stars: | 2024-09-16 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

Private brands — also called store brands and private-label brands — of foods and beverages have shared shelf space with national brands for years. Customer shopping habits are changing for goodIn the past, the value proposition of private brands was driven primarily by lower prices. But consumer attitudes are evolving, according to a recent survey by the Food Industry Association, which represents both food retailers and producers. And 46% said they expect to buy private brands somewhat or much more, compared to 27% saying that for national brands. "In the U.S., the market for private brands as an industry to eclipse national brands is not something we'll see," Baker said.

Persons: Peggy Davies, they've, Kraft Heinz, —, Rick Gomez, Sally Lyons Wyatt, John David Rainey, Scott Morris, Kroger, King Scoopers, Albertsons, Smart, Lyons Wyatt, They've, Doug Baker, Baker, Gen Zers, Xers, Steve Zurek, there's, Zurek, Morris, Gen, Joe's Organizations: Retailers, Private Label Manufacturers Association, Procter & Gamble, Walmart, Kroger, Albertsons, Target, Wall Street, Walmart U.S, Brands, Metro Market, Food Industry Association, Aldi Locations: Kellogg's, U.S, California , Florida, Western Europe

☆ It’s gonna be a hot, hot summer. Spicy snack foods and drinks are bringing the heat
▼ + stars: | 2024-06-02 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +8 min

“The spicy trend is here to stay,” Sally Lyons Wyatt, packaged goods and foodservice industry advisor with market research firm Circana, said in an interview with CNN. Spicy plus sweet give you “Swicy.” And yes, brands are trying to make it a thing as they look for ways to stretch out the spicy trend. Starbucks in the spring also introduced limited-time hot honey drinks, made with wildflower honey infused with chili peppers, such as Hot Honey Affogato and Hot Honey Espresso Martini to the menu at its Starbucks Reserve roasteries and select US stores. Nestle has also trotted out recent spicy innovations such as California Pizza Kitchen’s hot honey croissant crust pizza, Stouffer’s spicy nacho mac and Hot Pockets x Hot Ones. “Americans have made cult-favorites out of condiments like Sriracha and hot honey.

Persons: ” Sally Lyons Wyatt, ” Lyons Wyatt, Millennials, Gen Z, Gen Alpha, ” Lyons, Gen, Martini, ”, Lyons Wyatt, Jennifer Creevy, WGSN, Jeff Gritchen, Alpha, Creevy, “, ” Creevy, Mustafa Shamseldin, “ We’ve, Nestle, Primo, nacho, Varchasvi Singh, ” Singh Organizations: New, New York CNN, Walmart, Target, CNN, Starbucks, Disney California, MediaNews, Orange, Register, USA Pepsico, Foods, Pepsico, ” Nestle, Nestle, Tombstone, Mintel Locations: New York, America, Sonoma, Anaheim , California, Korea, “, Tombstone, USA, North America, California

☆ Kraft wants to remake the TV dinner
▼ + stars: | 2023-05-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

On Wednesday, Kraft Heinz officially introduced Homebake 425°/:30, the company’s new line of frozen meals. Kraft HeinzFor Kraft, the new brand is part of an effort to increase the company’s net sales by $2 billion through 2027. As part of its earlier turnaround efforts, Kraft Heinz has been trying to reinvigorate decades-old brands like Velveeta and Oscar Mayer. In that time, frozen food prices jumped 16.3%, well above recent annual trends for grocery prices as a whole. In 2020, Kraft Heinz announced that it was divesting its natural cheese business.

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