It placed third in the 2021 Dairy 100. It placed second in the 2022 Dairy 100. This year it is No. 1. Other companies saw major growth. Moving 33 spaces, Valley Queen Cheese Factory Inc., Milbank., S.D., No. 87 in 2021 net revenue, moved to No. 54 with a 2022 net revenue of $600 million.
Food prices rose 7.7% between April 2022 and April 2023.
May 18, 2023
To manage their food spending, U.S. consumers are finding ways to manage higher food costs by shopping at value retailers, spending less on non-food purchases, switching to store brands, and canceling committed expenses, like subscriptions, reports Circana.
Refrigerated ready-to-drink (RTD) coffee and tea were red hot, with percolating sales of nearly $949 million and $1.44 billion, respectively, in multi-outlets for the 52 weeks ending July 10, IRI data states. Percentage-wise, coffee saw a 27% sales increase, while tea added year-over-year sales of 11%.
If sales data are any indication, more consumers are saying goodbye to coffee filters, tea bags and the long wait to brew. According to data from Chicago-based market research firm IRI, dollar sales within the shelf-stable ready-to-drink (RTD) tea and coffee category shot up 9.5% during the 52 weeks ending Aug. 8, 2021, to $7,647.5 million. Unit sales increased 3.0% to 3,044.1 million.
When we last reported on sales within the U.S. refrigerated retail milk category back in our February issue, the situation was quite rosy. Dollar sales had risen significantly during the 52-week reporting period, and unit sales growth was solid, too.
When we last covered sales within the retail ice cream/sherbet category (in our January 2021 issue), the segment was enjoying double-digit growth in both dollars and units. Eight months later — with stay-at-home dictates over and many consumers no longer indulging in as many comfort foods — retail ice cream/sherbet sales are not soaring quite as high.
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