Food and beverage entrepreneurs looking to attract interest from bigger firms should first perfect their core products and prove they can evolve and grow, said Glenn Pappalardo, Kellogg's head of new ventures. Kellogg looks for startups with historical revenue in the range of eight figures and up, although venture capitalists may consider lower numbers, Pappalardo said.
Consumers consider food and beverage products with vibrant colors to be better tasting, sweeter and more attractive, according to a Sensient Colors study of more than 1,600 consumers. "Most notably, our research concluded consumer purchase intent grew as color vibrancy increased," said Sensient's David Gebhardt.
About 25% of consumers spend five or fewer minutes on breakfast, a new survey from Royal DSM reveals. When seeking items to eat for breakfast, the majority of those polled rank the food's health profile as more important than taste or a low price, according to the report.
A reputation for healthfulness, high taste quality and better nutritional profile has contributed to almost 30% household penetration for organic foods since 2010, shrinking the gap between households that chose organic and don't to about 10%. A new report from Packaged Facts and Simmons Profile Reports shows consumers most frequently chose organic produce, with 34% selecting organic fruits and 31% opting for organic vegetables.
The Plant-based Profits report, backed by 57 large investors in a coalition worth $2.4 trillion, says global food brands must direct their focus to plant-based protein. The alternative-protein category could be worth $5.2 billion within the next two years, the report estimates.
Avocaderia, an all-avocado eatery in Brooklyn, N.Y., won a $200,000 investment from Mark Cuban during this week's episode of "Shark Tank." Investor Barbara Corcoran also put in $200,000, and they'll each have a 10% equity interest in the concept, which aims to expand to 20 US locations.
Guests' expectations for quality wines can challenge hotels to deliver without busting the bottom line. Hotels and resorts are trying several approaches to encourage more spending on wine, such as by-the-glass pours and Wine Spectator's recent Wine Experience event at the Marriott Marquis in New York City.
Restaurants hoping to sell surplus foods quickly for less can tap into Karma, a dining app that connects consumers with these establishments. The app is one of several, including FoodLoop, OLIO and FoodCloud, working to redistribute food to keep it from being wasted.
When you attend the 20th Annual Worlds of Flavor International Conference and Festival, April 18-20 in St. Helena, Calif., you'll get insight and inspiration for the next 20 years of our industry, and of your business. Learn what flavors and ingredients will shape the next 5, 10 and 20 years from the legends who have defined the current culinary landscape. View the full program and presenters, and register here. Register before Feb. 20 to secure discounted pricing.
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The Food Business School (FBS) is the executive and graduate education center of The Culinary Institute of America—and the world’s first business school dedicated to food entrepreneurship and innovation. Established to meet the growing interest and need for broad food-system transformation, FBS is built for future leaders ready to tackle the planet’s most pressing food challenges—and its greatest business opportunities.