Corporate Profiles - 2020 - 26

INDUSTRY REVIEW: PACKAGED FOODS

Packaged foods
Innovation, investments and increased sales bolster center of store
he center of store became the epicenter of surging food and beverage
sales in 2020. In-home eating brought on by coronavirus (COVID-19)
lockdowns provided the impetus. Along with increased sales, innovative
new products hit the frozen food and soup categories while facility investments
came in frozen pizza.
Packaged foods consumption in the week ended June 20 was up an average
of 20% from the same period a year ago, according to New York-based Credit
Suisse, which expected above-normal growth rates in packaged foods to persist
in the second half of the year.
"We think the reacceleration demonstrates that consumers continue to eat
more of their meals at home even though state governments have been lifting restrictions on restaurants and social distancing," Robert Moskow, research
analyst at Credit Suisse, wrote in Credit Suisse's packaged foods research update issued June 22.
Consumers growing comfortable with working from home and those looking
to save money during a recession also could keep at-home eating at elevated
levels, said Nick Modi, managing director at RBC Capital Markets, in a July 9
webinar put on by Information Resources, Inc., a Chicago-based market research firm. He said a single individual could eat a meal for $15 at a restaurant
versus $4 at home.
"If you have a family of four, just think about the implications of your wallet
during a recession," he said.

FROZEN AISLE ACTIVITY
Frozen food sales growth in 2020 could continue into future years. Allied
Market Research, which has a US office in Portland, Ore., forecast the global
frozen food market to register a compound annual growth rate of 4.2% from
2020 to 2027 and reach $404.8 billion in sales.
US retail sales of frozen pizza reached $5.58 billion in the 52 weeks ended
July 12, up 15% from the previous 52-week period, according to IRI. Schwan
Food Co. frozen pizza sales jumped 24% in the 52-week period to $1.16

LEADING SINGLE-SERVE FROZEN

1
2
3
4
5
6
7
8
9

dinner/entree vendors

Conagra Brands, Inc.
Nestle USA, Inc.
Amy's Kitchen, Inc.
Bellisio Foods
Kraft Heinz Co.
Pinnacle Foods, Inc.
Ajinomoto Foods North America
Evol Foods
InnovAsian Cuisine Enterprises, Inc.
Private label
Total

Dollar sales
$1,477,605,339
$1,307,199,208
$355,366,066
$353,417,700
$273,026,564
$200,681,938
$107,481,636
$57,076,244
$49,930,539
$95,236,972
$4,642,478,774

% change
from
year ago
11.6%
-1.8%
13.4%
-12.8%
-14.4%
3.0%
31.5%
-7.8%
8.2%
3.1%
3.7%

┬ęBRANDY MCKNIGHT - STOCK.ADOBE.COM

T

billion, trailing only vendor leader Nestle USA at $2.21 billion, up 10%.
Bloomington, Minn.-based Schwan, a business unit of South Korean food
manufacturer CJ CheilJedgang, plans to build a 400,000-square-foot expansion to its pizza plant in Salina, Kan. Work on the new production lines, shipping
and receiving docks and office space is scheduled to begin in the expanded
area in December 2022.
General Mills, Inc., Minneapolis, invested in frozen food as well. The company in August unveiled plans to upgrade a plant in Wellston, Ohio, that makes
Totino's pizza snacks.
In other frozen food categories, major brands introduced new products.
Conagra Brands, Inc., Chicago, registered US retail sales of $1.48 billion
in single-serve frozen dinners entrees in the 52-week period ended July 12,
up 12% from the previous 52-week period, according to IRI. The company,
in its new product launches, combined its Gardein plant-based meat and
chicken alternatives with items such as Birds Eye Voila! Skillets, Healthy
Choice Power Bowls and Marie Callender's pot pies.
B&G Foods, Parsippany, NJ, capitalized on the eating-at-home trend as well.
"During the second quarter, we experienced tremendous strength in
almost all of our brands, with 85% of our brands growing in net sales
versus a year ago, including Green Giant, Ortega, Clabber Girl, Cream of

LEADING SINGLE-SERVE FROZEN

1
2
3
4
5
6
7
8
9
10

dinner/entree brands

Stouffer's
Marie Callender's
Healthy Choice Cafe Steamers
Banquet
Lean Cuisine Comfort
Lean Cuisine Favorites
Lean Cuisine Marketplace
Michelina's
Amy's Bowls
Hungry-Man
Total

Dollar sales
$622,632,336
$476,144,384
$286,317,667
$204,843,413
$177,961,271
$176,631,214
$170,741,249
$166,608,492
$152,318,412
$124,410,252
$4,642,478,774

% change
from
year ago
3.3%
12.8%
18.5%
-5.7%
-7.9%
-6.5%
-16.3%
-3.8%
15.6%
10.6%
3.7%

Data for 52 weeks ended July 12, 2020
Total US - Multi-outlet with C-Store (Supermarkets, Drugstores and Mass Market Retailers, Gas/C-Stores, Military Commissaries and Select Club & Dollar Retail Chains)
Source: Information Resources, Inc.

26 \ October 2020

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Corporate Profiles - 2020

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