Beyond Meat shares soar 26% as company teams up with PepsiCo to make plant-based snacks and drinks
Beyond Meat and PepsiCo this week announced their PLANeT Partnership, through which the two companies will develop, produce and market snacks and beverages made from plant-based protein. This venture will help PepsiCo reach its ambitious sustainability goals and give Beyond Meat the opportunity to continue expanding into the retail and grocery space while also innovating with new products. CNBC has the details.
Online CPG food and beverage sales could top $100B in 2021
Retailers and brands have a $58 billion growth opportunity when it comes to converting more food shoppers into online customers. NielsenIQ data shows online food and beverage sales jumped 125% to $106 billion over the 52 weeks ended Nov. 30, accounting for 12% of overall dollars spent in those categories, and pickup has been the clear on-ramp for consumers’ online food and beverage purchases. Get the data at Supermarket News.
Tyson Foods to pay $221.5M in chicken price-fixing scandal settlement
Although the company maintains innocence with regard to the ongoing chicken price-fixing scandal, Tyson Foods will conclude three lawsuits filed by consumers and some purchasers to the tune of $221.5 million. Tyson Foods' reported revenue of 2020 exceeded $42 billion. Modern Farmer reports.
President Joe Biden halts Trump plan to speed up processing lines in poultry plants
A rule from the Trump administration that would have allowed faster line speeds in poultry plants was blocked Monday by President Biden. Worker safety groups and a prominent labor union had cautioned the move would further exhaust processing plants' workers and increase the likelihood of COVID-19 outbreaks and bodily injuries. Head to The Huffington Post to learn more.
Is the Mars farm a not-too-distant reality?
Experts say sustainable food production systems like vertical farming could be translated to future outer space operations, although most are cost prohibitive and would be challenging to build at scale at this point in time. But as technology advancements lead to feasible and cost-effective forms of closed-system farming, Jonathan Hua for The Spoon explains how space-based farms will soon be ripe for entrepreneurs and early-stage founders.