US spices and sauces maker McCormick & Co. has unveiled plans to enter the breakfast category later this year.
The group will launch a range of 18 items under the McCormick Good Morning line as part of plans to achieve US$5bn in sales for the company by the end of fiscal 2019, Brendan Foley, the president of McCormick’s global consumer business and its operations in North America, said.
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The new line will include Slow Cooker Breakfast, Breakfast Toppers, Smoothie Boosts and Breakfast Seasonings.
Foley told an investors’ day event: “Breakfast is 17% of all eating occasions. Consumers have told us that both flavour and nutrition is a major opportunity. Consumers are looking for products that can enhance their oatmeal, yogurts, pancakes and even smoothies.”
Foley said all products under the line are “clean-labelled and most of them will be gluten-free”. Initial research results into the products have been “outstanding and purchase intent has been best in class”, he added.
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“The breakfast occasion offers tremendous opportunity to leverage our flavour expertise beyond where you typically find McCormick,” Foley added.
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By GlobalDataDetails of when and where the Good Morning line will go on sale and purchase prices have yet to be announced.
In January, McCormick & Co. reported a set of “record” annual results for 2016, a year in which the US spice and sauces maker said it hit “each of our key financial targets”. The company booked a 17.6% rise in net income to $472.3m for the 12 months to 30 November. Sales growth was in part “driven by product innovation”, the company said.
