What do executives from bakery and snack industry expect in 2017?
Bill Toler, CEO and president of Hostess Brands
The Twinkies maker said it has an exciting and robust pipeline of new products set to debut this year, building on its high-profile introductions last year, including Deep Fried Twinkies.
“Innovation generally is going to be a major trend for the coming year, but specifically, we think we're going to see more unique partnerships between retailers and other companies and brands, as well as new flavor profiles and high quality, great tasting snacks that offer accessible indulgence,” Toler told BakeryandSnacks.
“While there is a trend towards healthier snacks, we also see significant growth opportunities in indulgent snacks, and when consumers indulge they go for taste first,” he added.
John Bryant, CEO of Kellogg
The Pringles producer has announced plans to achieve high single-digit growth in currency-neutral comparable operating profit in 2017, excluding Venezuela, according to its most recent quarterly earnings results.
Kellogg said its previously-announced productivity efforts, including Project K restructuring savings, zero-based budgeting expense efficiency and price realization through Revenue Growth Management, should “move currency-neutral comparable-basis operating profit margin toward its goal of achieving 350 basis points increase from 2015 levels through 2018, excluding Venezuela.”
In addition, the company’s chairman and CEO, John Bryant, previously said, “we continued to make progress against priorities that will enable improved performance in Q4 and 2017.”
Don Mulligan, CFO of General Mills
Mulligan said during a recent quarterly earnings conference that the company expects organic net sales growth to be “flat and down 2%.
“We’re targeting total segment operating profit growth of six to eight percent on a constant-currency basis. And, we expect adjusted diluted EPS will also be up between six and eight percent in constant currency,” he said.
Rusti Porter, VP of Marketing at Krave
The Hershey-owned meat snacks company is focusing on expanding its line of culinary-inspired products as consumers continue to eat fewer traditional meals and snack more often.
“With almost half of consumers snacking more than three times per day, we look forward to giving savory protein options a stronger position as a snack that is satisfying, tastes great and provides healthy fuel,” Porter said.
In Q1 of 2017, Krave will launch the KRAVE Stick, a meat-based snack layered with beans and sweet potatoes, that is the result of our team’s collaboration with the Culinary Institute of America, according to the company. It is also bringing two new jerky flavors to the snack aisle in Q2: Honey Habanero Chicken and Pink Peppercorn Beef, which will be showcasing at the Winter Fancy Food Show in San Francisco later this month.
Peter Rahal, CEO of RXBAR
“RXBAR will focus on staying ahead of trends and filling white spaces in the adult and kids' food space,” Rahal told this site.
“The snack industry will continue to be a cluttered arena and innovation will be a big part of our 2017 plans,”
Ricky Hirsch, CEO of Think Jerky
“We exploded in 2016 in alternative channels but haven’t entered the natural grocery and better-for-you convenience worlds yet,” Hirsch said. “We’re now looking to enter these markets in 2017 with the right partners who want to be first-to-market with our healthy jerky crafted by celebrity chefs.”
He believes the meat snack market in the US will continue to grow over the next year as every jerky company is introducing bars and sticks to their lineup.
“I don’t want to do a bar or stick next, as I don’t want to do a ‘me too’ product, so we’re working on some innovative items that we will launch in 2018 that may or may not be related to meat snacks,” Hirsch added.
Etai Bar-on, owner of Izzio Artisan Bakery
"We continuously strive to provide our existing customers with the right tools in order for them to achieve consistent success. That entails new product innovation as well as analyzing their existing business and providing solutions for continued growth,” he said.
This site recently reported Izzio Artisan Bakery partnered with local millers and farmers to create a proprietary flour blend that is 100% traceable.
“We believe in being nimble and flexible, which in turn allows us to fulfil the demands of the current marketplace very quickly and efficiently,” Bar-on added.
“This benefits our existing customer base through organic growth and line extensions, as well as growing our new customer case by providing them with the right portfolio of breads that fit their specific needs.”
The company said it expects to retain its 25% year-over-year growth this year as it is continuing to provide solutions that reflect the trends of 2017, including using Freshly Milled 100% Traceable Flour, using only pure and unprocessed non-GMO ingredients and authentic techniques of baking in small batches with extended fermentation.
