From 'smoothie balls' packed with cacao fruit pulp to chickpea-fueled grain-free cereal, new food products are hitting the market every week. But which emerging trends have real staying power and what really interests VCs and strategic investors? FoodNavigator-USA headed to Nosh Live in Santa Monica to find out…
While CBD is one of the hottest trends in wellness right now, Whole Foods VP grocery Dan Epley said the retailer is steering clear when it comes to ingestibles: "We’re staying away from CBD right now; it’s not legal and we know that we’re a big target... when things become legal then we'll jump in at the right moment."
His comments came as the FDA penned 15 warning letters about CBD in one day and leading brands Charlotte's Web and CV Sciences (among others) were hit with lawsuits accusing them of injuring consumers by selling the 'illegal dietary ingredient CBD.'
While Whole Foods has accelerated its shift to more centralized buying following its acquisition by Amazon, Epley said it was still committed to finding local products, and had 24 'foragers' across its regions scouting for new brands: "[This focus] hasn't changed since Amazon came in. The forager count almost doubled in the last year."
He added: "Our local signage went down a little bit [following the Amazon deal] but now we're actually amping that back up and you'll see more signs with pictures of people that actually produced that product."
As for quality standards, he claimed, "There was a big fear that when Amazon came in, Whole Foods would change, our quality standards would become different. In fact we continue to elevate our quality standards. They are very supportive of that as they see it as a differentiation factor for us."
Whole Foods is increasingly "going overseas to see the new and hottest trends from a product and a packaging perspective," said Jason Krolikowski, senior global category merchant for candy and functional snacks.
At Mondelēz SnackFutures, which has been tasked with inventing new snacks, reinventing existing ones, and investing in external brands (Uplift Food, Hu Chocolate), the team has already developed three new concepts for the US market: Dirt Kitchen Snacks with veggies, nuts, herbs and spices; Ruckus and Co smoothie shake-ups; and cacao-fruit-pulp-powered CaPao smoothie balls and fruit jerky strips.
The latest innovation from Nosh Live pitch slam winner Know Brainer Foods ('bringing fun and functionality to the keto space') is a sugar-free marshmallow made with xylitol, inulin, monk fruit, erythritol, grass-fed gelatin and collagen protein, and MCT oil with zero grams of sugar.
Pitch slam finalist Pulp Pantry uses 50% upcycled ingredients (the fibrous pulp left over after juicing celery and kale, and okara flour - a byproduct of tofu production) to form the base of its grain-free veggie chips, which launched last month and contain 4-5g fiber per serving.
Fellow pitch slam finalist Eat Nice - which makes frozen filled vegan pastas - is on a mission to encourage more plant-based eating "by making it delicious, easy, and familiar." The products ('meaty walnut' and 'creamy ricotta' ravioli) are available in around 100 stores including Wegmans and Whole Foods.
Armenian yogurt dips (MSRP $5.99) can serve as a spread, dip, marinade, drizzle, topping or alternative to sour cream, said Sosi's, one of six finalists in the Nosh pitch slam.
Pitch slam finalist Vital Leaf makes hemp-derived CBD infused chocolates and other products, and has generated revenues of $1.5m since launching last year.
Bright Foods, which makes fresh whole food bars packed with veggies and fruits with a 90-110-day refrigerated shelf-life thanks to high pressure processing (HPP), is picking up traction after reducing its price from $3.99 to $2.99, said founder and CEO Brenden Schaefer.
Pieno (Italian for 'full') is a new fiber-rich brand of pasta made with unripe green banana flour (milled green bananas, which are starchy and not sweet), tapioca flour, and xanthan gum (although the 'prebiotic' claim on the front of pack is somewhat undermined by the fact that heat degrades the resistant starch in the bananas).
Three Wishes is hoping to bring Millennials back to the cereal aisle with its high protein (8g), low sugar (3g) grain-free cereal, made with chickpeas and pea protein and sweetened with monk fruit. The new brand, which is doing particularly well in New York and Los Angeles, is also exploring snack-packs as the cereal is frequently consumed without milk as a snack, said co-founder Ian Wishingrad.
Protein Balls from simplyFUEL are made from oats and peanut butter, and contain 8g protein per serving (two balls), said founder Mitzi Dulan, a registered dietitian who says the product is popular with parents and kids for pre- or post-workout snacks, mid-afternoon 'power snacks' and lunchbox snacks. Available online and through Pressed Juicery locations, the product also performs well in coffee shops and other grab & go foodservice locations.
WOKE, a new line of grass-fed collagen protein bars with ghee from 4th & Heart, is the first nutrition bar to have whole egg as a key source of protein, says the firm. Each bar has 12-15g protein and 7g sugar.
Lebby Snacks' dry roasted chickpea snacks (3g fiber, 5g protein/serving) are performing well in the better-for-you snack set and new plant-based snacking sets being developed by some retailers, said president Kaan Dagalti.
Good Eggs - which offers same day delivery of 'absurdly fresh' groceries, meal kits, prepared foods, wine and beer direct to homes in the Bay Area - does particularly well with 30-45 year-old college educated professional women with children in households with income of $150k+, said CEO Bentley Hall.
Finally, while brands of all sizes are increasingly wooing 'influencers' to help promote their wares in an 'authentic' fashion, many are seeing more success with 'micro-influencers' with smaller followings, and domain experts, said mindbodygreen co-founder Colleen Shaw Wachob.