The price of Thanksgiving is going up this year, with data from IRI showing that prices of most Thanksgiving foods are up 5-10% across many products compared with last year. Plus, GlobalData estimates that US holiday food spending will increase by 8.6% from 2020 to $53.1 billion, due to inflation but also to higher sales volumes as people go back to big gatherings.
Chobani increased its revenue by 5.2% to $1.4billion in 2020, is the top brand in the yoghurt category with just over 20% market share, and is heading towards its IPO. Oatly shares have taken a massive tumble, falling by nearly 20% this week after missing revenue expectations and suffering quality and supply issues
Wheat prices have hit their highest level since 2012, thanks to supply issues following a drought in the northwestern US. In fact, the world has consumed more wheat than has been produced in the last two years. Neat Burger celebrated World Vegan Month by launching a burger into outer space to send out the message that the rise of plant-based foods will be “meteoric”.