A newsletter on upcoming food and beverage trends that offers a curation of brands and aesthetics written by Andrea Hernández.
🔮 Peek into the future:
Dipping our tongues in savory spreads.
Snaxshot of market + who’s making moves.
Favorite brands in the space.
Market challenges + opportunities.
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“Spread love, it’s the Brooklyn way.”
Unsung Heroes 😤
Sitting at the corner “under appreciated” and “spread thin” of your fridge or pantry are items that wield incredible power to make us feel simultaneously extravagant and care free. Whether that’s imagining a picnic spread in a European country setting or simply helping you hack a sandwich for the 1000th time during quarantine, spreads and dips alike have kept us going even when the going felt tough and we tired of trying to ‘gram Sourdough bread.
It’s no secret that Millennials and GenZ alike are looking to “clean up” pantry items and that is why I’m here today, to offer a better way to spread and dip, ICYMI that there’s such a thing as functional butters that hopefully include such functions as cleaning up after you.
Enter Pantry Vision if you must, see you on the other side.
State of Spread 📈
—GenZ and Millennial major dip purchasers, dips and spreads category grew 3.4% in 2020 following a 2.3% gain in 2019.
—Global vegan spreads & dips market size projected to reach around $4 billion an estimated 8.3% CAGR by 2026.
—Global vegan cheese market grew 7% ( 40% of its growth coming from North America) segment alone will be worth $1.3 billion by 2024.
—In US plant–based cheese market grew by 10.4% in 2019 and by July 2020 had grown to 35.5% (pandemic aided its growth)
—In US snacking + innovation in refrigerated segment have served dips + spreads category, with sales reaching $4.9 billion in 2020.
—US plant-based butter market alone is $198 million, plant-based butter sales increased 15% significantly outpacing conventional butter sales growth.
—European food spread market expected to register CAGR of 2% until 2025 with jams and jellies being the largest segment.
—Global nut oils and butter market = $7.8 billion in 2020, market is projected to register a CAGR of 9% until 2025.
—Peanut butter market was worth $1.16 billion in 2019 alone and growing at CAGR of 10.54%, will reach $1.92 billion by 2025.
—Global tahini market valued at $1.24 billion in 2019 and projected to expand at a CAGR of 5.2% until 2025.
Enter Pantry Vision 📺
Jamboree: Hailing all the way from the Big Easy, a small-batch jam company in New Orleans that uses local fruit, copper pots, and no commercial pectin.
Prospect Jam: A more upscale, small-batch, jam also crafted using copper pots and no commercial fillers, based out of Ohio.
Mumgry: Handcrafted, ethically sourced, plant-based and low in sugar nut spreads. Their nut butters were actually created to prioritize dietary needs of every stage of motherhood: pre-pregnancy, pregnancy, postpartum.
Groovy Butter: These “vibe enhancing” butters include hemp extract and by far have the cutest “70s cozy” look, they are based out of LES, New York City.
Seedible: Sesame butter inspired by tahini but it’s thicker and spreadable (which if you’ve ever used tahini, know just how convenient that is) they source their sesame from Humera, Ethiopia.
Violife: Based in Greece and owned by parent company Upfield, who most recently invested $57 million towards plant-based food innovation center.
Mia: Plant-based, meatless deli slices from Italy. Their products are made from plants that are highly sustainable and renewable.
JuicyLuicy: Based in Uruguay, they also make plant based “cured meat” and “deli meat” as well as a “fried alt-chicken” patty.
Plant Craft: A veteran of ProVeg incubator in Germany, they are a plant-based protein innovator, developing a clean label deli range. They’ve raised a total of $900k in seed from X Ventures.
Core & Rind: A St. Louis based, cashew cheese sauce that most recently secured distribution across WholeFoods in the Midwest.
Credo: This plant-based company says they are looking to re-introduce families to plant based alternatives, starting with dips.
Spread’Em: Based in Canada, they are artisanal, plant-based line of cashew cheeses that are also fermented and probiotic-rich.
Willicroft: Founded in Amsterdam by the son of dairy fairy farmers, a line of plant-based products, their packaging shows you just how much “70s cozy” aesthetics transcended global barriers. Their products recently introduced in the UK.
SperoFoods: Led by an ex-Facebook engineer, their cream cheese products are made from organic sunflower seeds and include probiotic cultures—no gums, soy, nuts, or anything processed. Raised around $120K from the likes of Litani Ventures + Soma Capital.
Grounded: Based US, in plant-based cheeses out of non-GMO hemp seeds and “ugly” cauliflowers. They’ve secured a whopping $1.9 million in founding so far from the likes of Stray Dog Capital, New Growth and Big Idea Ventures.
Dark Horse: High umami modern pantry staples, hand crafted by chefs in Los Angeles.
Ugly Pickles: Upcycled goods based out of San Francisco, they are trying to mend “broke food links” and reduce food waste with their products.
Plant Provisions: Based out of Calverton, NY their plant based alternative deli “meats” are solving the problem that is highly processed and loaded with unrecognizable ingredients in plant-based alternatives.
Josefa: Based in Los Angeles, this is a traditional Mexican cajeta using a recipe that dates almost 100 years back.
Wanna Date: Born out of a dorm room in New York City, they were featured on Shark Tank last year and raised $100 K from the likes of Marc Cuban.
Misty’s: Small batch caramel made in Australia, included here for the vegan coconut salted caramel option!
Spreads Like Butter On Toast 🍞
—Highly fragmented market, highly competitive and opportunity for smaller players to capture % of market fulfilling more specific niches, innovations.
—Perceived health benefits of nut butter/spreads will continue to raise demand.
—Demand for vegan/plant-based sauces, spreads, cheeses continues to rise.
In A Jam 🍓
—Millennials and GenZ want cleaner labels
sugar-free/healthier sweetener alternatives
free from fillers
—Demand for more sustainable packaging around these products
Pantry Bingo ⚫
Here’s an entertaining way to unload your pantries without the dread or your next favorite drinking game:
Spoonful of News 🥄
Unilever trials portable food factories.
Swedish Nick’s Ice Cream raises $30 M to further expand production capacity/ US market.
Barilla acquires majority stake in UK’s Pasta Evangelists.
Outstanding Foods raises $10 M in Series A funding led by SternAegis Ventures.
PepsiCo + CocaCola won’t be advertising in Super Bowl this year.
Supporting Small + Local 🤗
A non-sponsored space that will highlight small businesses to support + give back to community in 2021.
Cas Rum Beverages is a small-batch, bottled rum cocktail company consisting of Belizean-style rum popo (spiked egg nog), rum punch, & rum sorrel made with love in Brooklyn. Founded by Andrea K. Castillo, the goal of the company is to share her culture, one glass at a time.
See you again next week, a different future, same place.
🔮 Tweet at me @thesnaxshot.
🔮 Share with your friends and let them know forecasting trends is the new astrology: