Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber
Andrea Montagna, CEO of Bonduelle Fresh Americas

Fresh cut, a complicated market

The situation in the fresh cut market is complicated all over the world and in Italy there have been several plant closures. But also in the US the situation has to be assessed day by day. "At the macro level – says Andrea Montagna, CEO of Bonduelle Fresh Americas - the combined effects of the COVID pandemic, rising inflation, and labor shortages have certainly created challenges for many players within the U.S. fresh produce market. We are aware of some companies attempting to sell themselves or merge with other companies to try and bolster their financial situation".

"Some of those deals are mired in antitrust litigation while others simply haven't found bidders for their business. In the short term, the turbulence is creating some reluctance in the trade to have too much of their supply consolidated amongst one or two large players. This has been working in our favor and makes Bonduelle Fresh Americas an attractive partner given our growing market share, strong relationships, and global backing by Bonduelle Group".

The Inflation is increasing in Italy and in the USA the situation is not very good. Montagna says: "Inflation continues to be a concern for consumers and for businesses in the U.S. According to the most recent update by the U.S. Bureau of Labor Statistics, U.S. Consumer Price Inflation increased 0.2 percent, seasonally adjusted, and rose 3.2 percent over the last 12 months, not seasonally adjusted. Within the Food at Home category, inflation ran at 3.6 percent with the fruits and vegetables sub-category showing an increase of 2.9 percent year over year through July.

Across the industry, we are seeing cost increases across all categories of expenditure from product supply to labor. Similar to our competitors we have had to raise prices and that has impacted the overall category for bowls and kits. We've been able to raise prices and while the overall category has seen declines, we have increased our market share for our Ready Pac Bistro product line. This is a testament to the freshness and flavors of our products, that consumers love and to the level of service we provide for our customers, which they appreciate".

But there are some product innovations. "Bonduelle Fresh Americas – comments Montagna - just announced the West Coast launch of our Ready Pac Bistro Meal Kits. These plant-rich meals deliver restaurant-quality flavor and visual appeal and are available in three delicious flavors - Teriyaki & Rice, Chipotle & Quinoa, and Basil Pesto & Pasta. Each kit includes generous portions of fresh vegetables and rice, quinoa or pasta, along with a rich and flavorful sauce and a topping to add the final touch.

The new Ready Pac Bistro Meal Kits are incredibly versatile and are generously portioned, making them perfect for a main course for two or as a side for the whole family. Ready Pac Bistro Meal Kits include all the ingredients needed to make each recipe in five minutes. Consumers can just heat and eat exactly as they are or get creative and customize their meal by adding a choice of protein".

"We believe that the introduction of the Ready Pac Bistro Meal Kits comes at the perfect time. Our research showed that consumers want more vegetable-based, plant-rich food options that they can purchase locally for themselves and their families for easy dinner solutions.
77% of consumers would like a larger selection of fresh, plant-rich meal solutions available at their local grocery store. 79% of consumers would like healthy plant-rich options that appeal to and can feed their whole family. Consumers cite that in a typical week, 96% of their total meal includes fresh vegetables as the main part or the side, all or most of the time."

"In December of 2022, Bonduelle Fresh Americas announced it became the first Bonduelle business unit to become a Certified B Corp, earning us the distinction of becoming the first fresh produce company in the U.S. to achieve B Corp certification. Being a B Corp, which provides a trusted and independent verification of the work we do and how we do it, differentiates us in the market with our growers and as a trusted supplier. It is a real source of pride for all of us at Bonduelle. In the commoditized fresh produce market in the U.S., our B Corp certification also provides us with a competitive advantage and allows us to stand out and more closely align with our customers' own sustainability agendas," Montagna concludes.

For more information:
Bonduelle
https://www.bonduelle.com/en/