CPG companies are racing to develop stable, plant-based protein sources to meet the needs of a market projected to hit $863 million by 2021, based on Euromonitor data. PepsiCo is creating a line of products made with its SoluOats innovation, which blends oats with water and results in a protein-rich beverage.
Millennial tastes and habits are reshaping the beverage industry as the demographic demonstrates its willingness to pay more for products that reflect its values. Millennial consumers have expressed a strong trust in small brands, and they often seek out products that include probiotics, writes Sarah D. Young.
Home of RXBar, Limitless Coffee and Tea, SkinnyPop and others, Chicago is quickly becoming an incubator for startups making products with simple ingredient lists, writes Peter Wilkins. The clean-label food and beverage movement has attracted venture capitalists and big food companies to look more closely at investments in smaller Midwestern-made products.
Advertisers such as Gillette, Sling TV, PepsiCo, Showtime and Hyundai have invested in ads during Amazon Prime's NFL game streaming, drawn to its affluent audience and the ability to measure whether ads influence sales on the digital giant's platform. Amazon reports that ad inventory has sold out, with packages sold for $2.8 million, although sources say some deals were sold for $1 million less.
Marketers have started to pursue the baby boomer generation, often neglected by advertisers in their obsession to woo millennials, writes Janet Morrissey. Brand Keys' Robert Passikoff says, "While the millennials are sharing stuff, boomers are buying stuff," adding, "boomers are an audience that's worth pursuing in virtually every category."