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July 1, 2020

PigOut plant-based snacks owner Outstanding Foods in new financing round

Outstanding Foods, the plant-based snacks business in the US behind the PigOut brand, has attracted new finance.

By Dean Best

Outstanding Foods, a plant-based snacks business in the US behind the PigOut brand, has attracted new finance after it received an undisclosed investment from rapper Snoop Dogg earlier in the year.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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New York-based private-equity fund SternAegis Ventures led the US$5m round, with participation from another celebrity, L.A. Lakers basketball player JaVale McGee.

Outstanding Foods, which was formed in 2015 by former Hampton Creek co-founder and Beyond Meat product developer Dave Anderson, along with chief executive Bill Glaser, will invest the funds in research and development, marketing and to expand into retail, according to a statement.

The company recently launched its plant-based PigOut Pigless Pork Rinds, claimed to have the same protein content as beef, which are available from Outstanding Foods online. It is also planning to roll out further new products aided by the funding in line with its gluten, soy, GMO and cholesterol-free credentials. 

Glaser said: “This funding provides us with the opportunity to reach more consumers and give them more ways to snack on great tasting, healthy, plant-based snacks.” 

Last summer, the company, then known as PigOut, received an undisclosed investment from Katjesgreenfood, the venture fund of German confectionery group Katjes, followed in April this year by Snoop Dogg, whose real name is Calvin Cordozar Broadus Jr. 

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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