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2023 Summer Fancy Food Show Review
From June 25 to June 27, the Specialty Food Association (SFA) Fancy Food Show returned to the Big Apple. The event represents an important showcase for CPG brands looking to grow in the specialty food market, which hit $194 billion in 2022 and is expected to rise at a CAGR of 6% between 2023 and 2027 with improving profits and margins.
In the top 10 categories, ranked by dollar, snacks topped the list for the first time. Overall, popcorn, potato chips and snacks combined for more than $4 billion in sales. This was heavily reflected on the show floor, with bold-flavored snacks abounding.
Tochi Snacks, a producer of salmon chips, has added popcorn to its expanded snack portfolio. Available in four flavors at launch – Salted Egg, Black Sesame, Ube and Black Milk Tea – the new line aims to introduce Asian-inspired flavors to a wider array of consumers via a familiar product.
“[We asked ourselves] what in the U.S. is somewhat familiar to people here, but also allows us to be playful? We wanted the [unique flavors] in a form that was easy to consume and easy to understand,” said co-founder Ian Seah.
Elsewhere, Mediterranean-inspired snack brand Zesty Z highlighted its newest flavor of popcorn, Organic Olive Oil, a better-for-you stand in for classic buttered popcorn. The brand may have started in condiments and spices, but its future largely lies in other categories, CEO Alexander Harik said at the show.
The new flavor rounds out Zesty Z’s other popcorn SKUs, Harik said, which include Feta Cheese, Spicy Chilli and Honey and Sea Salt the latter of which launched this year. Packaging now features a bigger callout for “air popped,” a reference he believes indicates to consumers a low calorie count.
While the brand will continue to sell its flagship Za’atar spice mix, that product will largely be for D2C sales and foodervice. According to Harik, beyond snacks, frozen and refrigerated products are also under consideration for future innovations.
B.T.R Nation’s CEO, founder and chief snack officer Ashley Marie said the snack brand has raised $600,000 in capital. In tandem, with the raise, B.T.R’s Republic equity-funding campaign raked in over $100,000. According to its Republic pitch, the brand is on track to hit over $2 million in sales this year. The news comes after B.T.R. last year expanded from its line of zero-sugar, functional protein bars into chocolate truffles.
Also on the floor, several startups debuted rebrands as they aim to build momentum and raise consumer awareness.
Bravado Spice (which you may know from online sensation Hot Ones) showed off their revamped packaging, which rolled out late last year. Formerly sporting all black packaging across its line, the brand now has three colorways to segment out the different lines of business: black for extra hot offerings, white and gold for premium options and bright colors for its retail-focused collection of hot sauces. What’s stayed the same: a focus on culinary flavors, with its newest offering featuring a blend of passion fruit, manuka honey and ghost peppers.
Elsewhere, after growing its distribution to 700 locations, eatery-turned CPG co. Dumpling Daughter has refreshed its packaging and reduced the pack size of its frozen Chinese meals in hopes of widening its appeal. The company downsized its 16 oz. dumpling pack to 9 oz. and its buns from 17 oz. to 11 oz., a move that allows Dumpling Daughter to cut its MSRP from $15 to around $7.99.
“For independent grocers in New England where people recognize our name, they would buy it [at the higher price],” said founder and CEO Nadia Liu Spellman. “But if we are really trying to grow the brand and make it approachable, you have to downsize it.
The SFA Summer Fancy Food Show is set to take place on June 23-25, 2024.