Image Source: New York Times
Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
Plant-based food continues to be on the rise. New research by SPINS has found that US sales of plant-based foods rose 11.4% last year, for a total market value of $5 billion. Category drivers were plant-based milks, meat, dairy alternatives and plant-based meals.
The stunning cancellation of food industry trade shows – Expo West, Shoptalk, and Inspired Home – reflect the chaos that the coronavirus is causing across the business world. All the while, food delivery companies and retailers are scrambling to prepare for changes to consumers’ response.
DoorDash quietly filed for an IPO amidst financial loss, fierce competition and lawsuits. Amazon Go has opened its expanded grocery model in Seattle, and an LA tech investor has reached out to Blue Apron about a potential sale.
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Plant-based dairy and meat were the biggest growth drivers as the segment’s sales grew 11.4% last year.
The food delivery app is losing money, battling rivals, facing lawsuits — and trying to go public. What could go wrong?
Expo West has been canceled. The event’s drawn-out demise offers a snapshot into the chaos the global outbreak is causing across the business world.
The new store is modeled after a standard Amazon Go location, but has expanded to include an array of grocery items you’d find at Whole Foods. It joins the nearly 20 Go stores currently open throughout the country.
New Hope seems to be forcing companies to choose between having to lose what to many of them is the largest investment of the year or to face what could turn out to be a potential threat to their health and wellbeing.
The #expowest2020 situation is massive and especially devastating for earliest stage brands looking to build and be discovered. Foraker offers his perspective to ways in which New Hope, retailers and industry veterans can help.
Tai Lopez, an investor in Farmers Box and owner of more than 700 acres of farmland in Virginia, declined to say how much he’s willing to pay, but claims he has big plans about how to revive it.
The deal underscores a significant cut in the 11-year-old Indian firm’s valuation, which was reported to be worth $3b when it disclosed a $150m fresh investment earlier this year.
The Amazon could turn into a source of carbon in the atmosphere, as soon as the next decade, owing to the damage caused by loggers and farming interests.
NextWorld led the round. The company aims to add 6 more retail stores in 2020.
As soon as next month, Walmart plans to start publicly testing a new membership program that is a rebrand of its Delivery Unlimited program. It could include a feature that would allow customers to use text messaging to place orders.
Breakthrough Energy Ventures is leading an investment of $20m for C16 Biosciences, which uses microbes to convert food waste and industrial byproducts into a sustainable alternative. Funding will be used to grow the team and scale the technology.
US Representative Chellie Pingree’s Agriculture Resilience Act would incentivize and support farmers to address the climate crisis in the face of USDA inaction.
Another trade show has gone down due to the coronavirus.
In a reversal of last week’s confirmation, the retail conference will be held in place of its sibling event, Groceryshop, which is rescheduled to next spring.