The November issue of “Food Business Insights – Newsletter from Sathguru” focuses on Indian Dairy industry, growth opportunities, evolving business models, and emerging technologies in the dairy segment.
McDonald’s claims it sources nearly all its paper packaging, globally, from sustainable and recycled fiber :
The global burger chain said in its annual sustainability report that in 2020 99.6% of the paper bags, food wrappers, napkins, cup carriers and other fiber-based materials it used to package meals for customers came from recycled or certified sustainable fiber sources, up from 92% in 2019. McDonald's has set a larger goal for all of its customer packaging to come from renewable, recycled or certified sources by 2025.
Amazon Retail launches agronomy services to empower farmers with technology :
Amazon Retail has launched its agronomy services to empower farmers through an initiative that gives them timely advice and enables them to make accurate decisions on actions required for their crops. This includes introducing machine learning technology for better produce and build a robust supply chain infrastructure. As part of the agronomy service launch, Amazon Retail has built an ecosystem through a combination of Agronomist driven field interventions, and farm management tool to track the impact of interventions.
Britannia ties up with Accenture for digital operations :
Biscuits and bakery maker Britannia Industries has announced a tie-up with strategy and consulting firm Accenture for digital acceleration of its operations, reducing IT operational costs and unlocking capital. The project will help streamline procurement and supply chain management, expedite digital onboarding, contract management and procurement processes.
Jubilant Foodworks acquires 25% stake in nutrition company Wellversed :
Jubilant Foodworks Ltd (JFL), a quick service restaurants operator and master franchise of brands such as Domino's Pizza and Dunkin' Donuts, has acquired 25% stake in Gurugram-based nutrition company Wellversed Health. Wellversed is a nutrition company offering a variety of food products tailored for specific nutrition and dietary needs including keto, gluten-free, vegan, high-protein, diabetic and immunity. This investment reflects the company’s intent of making strategic investments in promising startups and emerging businesses, and is in line with the stated goal of building a multi-brand and multi-country food business powered by technology.
Parle to foray into breakfast cereals category :
Parle Products, the country's biggest foods company, plans to launch breakfast cereals, entering a segment dominated by Kellogg's, PepsiCo, Nestle and Baggry's. Demand in the ready-to-eat products category has been growing amid the coronavirus-led restrictions that have kept most people at home. The company will launch ‘Hide and Seek Fills’ and target the country's growing appetite for ready-to-eat products.
India formulates draft regulations for vegan food products :
The new draft regulation by FSSAI for “Vegan Food” now stipulates various compliance requirements by processors/ FBOs. Key aspects include definition and general conditions for processing, handling, and selling vegan food; Facility inspection by the designated authority, traceability and product testing requirements; and Packaging and Labelling requirements with the new logo. Vegan food companies should look out for the final regulation to assess their compliance and for any subsequent changes in the process or product design.
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