Tune into the latest edition of FoodBev’s weekly podcast, where we take an in-depth look at some of the biggest stories from the food and beverage industry over the last week – click here to access on Spotify.
This week’s podcast features financial results from major beverage companies, several significant investments within the cheese industry, as well as an interesting move from Kraft Heinz as it moves into the cannabis sector.
Major beverage companies including AB InBev, Coca-Cola and Heineken released their results last week. Coca-Cola recorded third-quarter net revenues of $9.51 billion, thanks to the growth of its low and zero sugar portfolio.
Heineken recorded a 2.3% organic increase in beer volume sold, driven by double-digit growth in Asia-Pacific, while AB InBev reported weaker-than-expected third-quarter results, as it experienced declines in China and the US.
Meanwhile, Kraft Heinz made its first foray into the cannabis sector through its Evolv Ventures venture capital arm, which co-led a $23 million funding round in cannabis technology startup Flowhub.
The overarching goal of the venture arm is to support Kraft Heinz’s efforts to keep on top of changing trends in the food and beverage industry, and CBD-infused products are gaining interest from consumers due to their perceived functional benefits.
There were several major production investments in the cheese industry meanwhile, as Tetra Pak, Arla Foods and Wensleydale Creamery all made significant investments to boost production of solutions for the cheese industry.
An interesting study released by the BEUC last week claims that the number of food safety controls and the resources allocated to them are declining across Europe, with the report stating that national governments are “cutting corners” on food safety.
Alternative sources of protein have been a hot topic of late, and last week, seafood producer Thai Union Group partnered with Israeli FoodTech start-up company Flying Spark to promote larval insect protein as a sustainable and nutritious contender in the alternative protein market.
You’ll find all this and more in this week’s podcast – click here to subscribe.
Presented by: Martin White and Emma Upshall
Edited by: Martin White
© FoodBev Media Ltd 2022
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