Food industry’s GLP-1 drugs warning

Hormel ponders pricing, Finland's plant-based push

View in browser View in browser  |  Forward to a friend  | Signup In Brief November 30, 2023 | Up-to-date international news and features on the global food industry Spotlight GLP-1 weight-loss drugs pose risk to packaged food industry – Stifel survey Stifel survey revealed that 15% of respondents used a GLP-1 drug. Answer our poll question Latest news Hormel ponders pricing stance as signs of consumer pushback emerge CEO Jim Snee said: "It's important that we take those elasticities very seriously." Oatly executive to lead Finland's plant-based foods push A new consortium intends to boost the uptake of plant-based products in the country. Mexico's Baja Aqua-Farms nets bluefin tuna growth investment US-based Continental Grain Company is part of the investor consortium. Ukraine pet-food business Kormotech invests in Lithuania plant The branded and private-label supplier is spending €60m ($65.4m) on the phased project. Mama's Creations enters D2C channel to ship deli products across US Previously trading as MamaMancini's, the service will start with the company's legacy meatballs. COP28 – Raising frozen food temperatures can cut carbon emissions, says DP World The industry standard recommendation to freeze foods at -18°C has not changed in 93 years, the report said. Bulk of UK grocery suppliers have raised prices faster than costs – report UK grocery inflation continues to be at historically high levels, despite falling to 10.1% in October. Read more news In-depth read Despite rising demand for vegan cheese, complex processes and high production costs could limit market growth Per GlobalData, the global vegan cheese market will be valued at $1.4 billion in 2023 and is expected to grow at a CAGR of 16.7% by 2030, primarily driven by the rise in the vegan and vegetarian population. However, its production often involves more complex processes and expensive ingredients like nuts or plant-based proteins, leading to higher production costs, which are then passed on to consumers, making vegan cheese more expensive per unit compared to dairy cheese, which could thereby impede its widespread adoption. Free digital magazine: latest issue Issue 53 | September 2023 In this issue: Fighting food waste / US food-safety reform / Danish Crown's automation – and more. Click here to view the magazine. GlobalData network Verdict Foodservice   |   Just Drinks   |   Packaging Gateway Thank you for reading. Please send any news or comments to: foodeditor@aroq.com Contact us LinkedIn | Twitter Editorial foodeditor@aroq.com Advertise with us Click here About Just Food Just-Food.com is one of a network of 30+ proprietary B2B websites, with an unrivalled global audience of active decision makers, influencers, and opinion leaders across the world with a combined readership of 55 million industry professionals each year.   Was this email forwarded to you? Sign up here GlobalData, John Carpenter House | Registered in England No. 03925319, John Carpenter Street, London, EC4Y 0AN, United Kingdom Unsubscribe Manage Preferences London