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bakeryandsnacks.com •

‘Greedflation’ muddies the food industry’s financial landscape

Amid the cost-of-living crisis, the food and non-alcoholic beverage industry has been battling rising and stubborn inflation rates, tightening the squeeze on consumer spending.

Data on European inflation (in the euro area) indicates it has dropped​ from its peak of 10.6% in October 2022 to 2.9% in October 2023​. However, food inflation was 7.4% in October 2023, Eurostat confirmed​.
foodnavigator.com •

Balancing spending with sustainability: How is consumer behaviour changing amid cost-of-living pressures and global warming?

Consulting company Ernst & Young (EY) has published its 13th Future Consumer Index (FCI)​ results, identifying changing consumer behaviours and spending patterns amid the cost of living and climate change crises. The ongoing cost of living crisis is placing stress on already-stretched consumer budgets and climate change is driving consumers towards more sustainable purchases.
foodnavigator.com •

Collaboration over competition? Cocoa companies push for equitable farming

Despite farmgate prices rising​ in Ghana and Côte d’Ivoire from 1st October 2023, the Living Income Reference Prices (LIRP) remain unmet, cocoa companies including Tony Chocoloney and Fairtrade argue, prompting them to urge for better corporate responsibility to pay farmers an equitable share of profits.

“Tony’s and Fairtrade are aligned regarding the calculation of the Living Income Reference Prices (LIRP) for cocoa – hence we are also in agreement regarding the fact that regulated farmgate pr

UK consumer trust in supermarkets falls to nine-year-low

Research by UK consumer review organisation, Which?, reports decreasing levels of trust in the food industry, with two-thirds of shoppers feeling ripped off.

Trust in food has dropped to its lowest level in almost a decade, research by Which?, the UK’s self-proclaimed “consumer champion”, details, following its monthly consumer insight tracker.

Which? is urging supermarkets and convenience stores to stock budget varieties of food products to ease the financial burden on consumers, especially a

Shifting trends: Analysing the impact of high inflation in India

Shifting trends: Analysing the impact of high inflation in India

Despite food and beverage categories in India feeling the pinch of increasing inflation, the overall outlook remains upbeat as governmental support steps in and evolving consumer purchasing patterns shape the sector.

In April 2022, India’s retail inflation rate reached 7.8%, the highest it has hit in eight years. Yet, despite this alarming inflation statistic, data analytics and brand consulting company Kantar reports positive le

The Grain Drain: Ukraine war disrupts US grain and oilseed market

The Grain Drain: Ukraine war disrupts US grain and oilseed market

“The war in Ukraine has seemingly changed everything,” says RaboResearch in a report that explores the grain and oilseed outlook in the US over the next ten years and the expected impact on fertilisers, production, exports and pricing.

The intelligence arm of Rabobank, RaboResearch, was finalising its grain and oilseed outlook for the US when the war in Ukraine broke out. As a result, as part of its report, the company examined

EU exports evolve in face of burgeoning bioeconomy

Delivering food and drink via a robust supply chain, accessing global trade routes, and investing in research and development (R&D) lead food and drink investment and market evolution in the European Union.

The food and drink industry plays a pivotal role in the European market. The European Union (EU) food and drink industry is one of the largest manufacturing sectors in Europe and the largest exporter of food and drink products in the world, with €145 billion in exports, FoodDrinkEurope revea
nutraingredients.com •

Spanish company Vitae Naturals joins Kensing

In a bid to become an international leader in plant sterol esters and natural vitamin E, US company Kensing acquires Spanish company Vitae Naturals and its product range, comprising proprietary formulations.

Kensing, a portfolio company of the investment business, One Rock Capital Partners, announced on 28 June 2022 that it has completed its latest purchase. By acquiring the leading European plant sterols, natural vitamin E and high-purity surfactants company, Kensing hopes to expand its presen
cosmeticsdesign-europe.com •

Unilever and Genomatica enter €114 million initiative to develop plant-based feedstocks

Unilever and Geno have teamed up on the multi-million-pound deal to develop and launch plant-based alternatives to feedstocks such as palm oil or fossil fuels to produce core ingredients for everyday personal care products.

The duo behind the new initiative, of which Unilever is the first to support through investment, is expecting additional investors to join its goal of establishing sustainably-sourced palm oil in the personal care market. In addition, as part of the initiative, the companies
Accountancy Age •

“Still work to be done” on diversity in accountancy, industry leaders say

The accounting industry must work harder to reduce inequality and create more opportunities for people from minority and lower socio-economic groups, according to market participants.

“We know there is still work to be done on inclusion and diversity—the existence of pay gaps, primarily driven by a lack of fair representation at senior levels, shows us this,” said Sarah Churchman, chief inclusion, communities and wellbeing officer at PwC UK.

“It’s important to take a long-term view of the pipe
Accountancy Age •

“Still work to be done” on diversity in accountancy, industry leaders say

The accounting industry must work harder to reduce inequality and create more opportunities for people from minority and lower socio-economic groups, according to market participants.

“We know there is still work to be done on inclusion and diversity—the existence of pay gaps, primarily driven by a lack of fair representation at senior levels, shows us this,” said Sarah Churchman, chief inclusion, communities and wellbeing officer at PwC UK.

“It’s important to take a long-term view of the pipe
Accountancy Age •

Audit committees must take climate change "a lot more seriously"

The recognition of climate-related matters among audit committees has not been strong enough despite a spate of recent events highlighting the significance of the issue for organisations, market participants have said.

“Boards and audit committees need to start taking the risks associated with climate change a lot more seriously, accelerate their mitigation plans and discuss what action they are taking on a more regular basis,” said Anthony Carey, head of board practice at Mazars.

Carey went o
cosmeticsdesign-asia.com •

Debunking value myths part 5: “It’s not about being cheap or expensive”

'Myth#4: Customers must experience new products before they can say how much they’ll pay for it'​

Sampling is big in beauty and personal care.
• Can brands garner attention, build sales, trust and loyalty, both with or without this approach, and what impact does it have on a brand’s value?​

Critically, it can be argued that if we only create items where there is a demand, then radical innovation will not flourish as consumers do not desire or require these game-changing products and services a
cosmeticsdesign-asia.com •

Gouda strikes deal with Walgreens Boots Alliance

On 6th December 2017, the large retail pharmacy, health and “daily living destination”​ announced it had reached an agreement with China National Accord Medicines to enter into an investment deal with its subsidiary enterprise, Sinopharm Holding Guoda Drugstores.

The subsidiary operates throughout China and also boasts franchising retail pharmacies across the country.

The alliance was made after a public tender process. The accepted bid will see Walgreens Boots Alliance take a 40% minority sta
cosmeticsdesign-asia.com •

Gouda strikes deal with Walgreens Boots Alliance

On 6th December 2017, the large retail pharmacy, health and “daily living destination”​ announced it had reached an agreement with China National Accord Medicines to enter into an investment deal with its subsidiary enterprise, Sinopharm Holding Guoda Drugstores.

The subsidiary operates throughout China and also boasts franchising retail pharmacies across the country.

The alliance was made after a public tender process. The accepted bid will see Walgreens Boots Alliance take a 40% minority sta
cosmeticsdesign-asia.com •

Creso Pharma and Zhejiang enter Chinese cosmetics market

A subsidiary of Hong Kong-listed group, Kingdom Group, the company specialises in hemp and flax-based linen production and is now turning its attention to promoting health care, cosmetics, nutraceuticals and body care items.

This new collaboration with the HK $623.38 mn (€67.2 mn) capped company provides Creso with the opportunity to access and gain a foothold in the Chinese health, personal care and cosmetics sectors.

The duo has struck up a mutually-beneficial agreement as this partnership w
cosmeticsdesign-asia.com •

Skin care trends in 2018

Sunny Um, Beauty & Fashion Analyst at Euromonitor International delivered a speech at the recent in-cosmetics Asia event on the main drivers pushing Asia’s leading position in the global skin care industry. We delve into the research company’s report to explore how this prominent sector is expected to develop.

Asia remains the dominant player in global skin care sales​, amassing 51% of the world’s value sales and 6% compound annual growth rate (CAGR) between 2012-2017.

Current dominating trend
cosmeticsdesign-asia.com •

Amorepacific’s Aestura sells Cleviel

Medical beauty business, Aestura, is selling off its filler brand Cleviel to Pharma Research Products. The move comes as Amorepacific develops its inroads in the anti-ageing and regenerative medicine sectors.

Headed up by Lim Woonsup, CEO, the Amorepacific Group affiliate has entered into an MOU with Pharma Research Products, led by CEOs Jung Sangsoo and Ahn Wonjun.

Signed on 11th January 2018, the recent agreement will see the two Asia heavyweights formally conclude the transfer of Clevial by
cosmeticsdesign-asia.com •

Online spending in China is at its peak

Commenting on why online spending is currently so high, Matthew Crabbe, Regional Trends Director, Asia Pacific, at Mintel held that it is a combination of factors including a rapid surge in economic growth, rises in spending power and choice along with greater urbanisation, the large-scale shift of labour from manufacturing to services, the investment and development of logistics, growth in an online (and especially mobile online) population, uptake in online/cashless payments, and growth in tra
cosmeticsdesign-asia.com •

Asianification strengthens multicultural beauty market

Multi-generational beauty buyers, emerging innovations from APAC markets, the competition between niche indie brands and multinationals, along with increasing disposable incomes are all helping brands to explore possibilities in the multicultural beauty sector.

Far from experiencing exclusion from the multicultural beauty market due to the preferences for skin whitening in the West compared with skin tanning in the East, the skin care sector is seeing growth through adopting natural, sustainabl
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