Gummy industry leader Haribo is pushing its halal and multipack strategies to drive growth amid regulatory and economic headwinds.
Despite its clout in the sector, the brand is facing increasing challenges arising from inflationary price hikes as well as rapidly changing regulations.
“For us inflation has hit key ingredient supplies such as gelatine and sugar, and there is overall a shortage of ingredients due to the war as well as logistics and other rising costs from various contingent issues,” Haribo Senior Trade Marketing Specialist Gabriele Scotti told FoodNavigator-Asia.
Brand story, healthier alternatives, and sensory characteristics to underline beer innovation – Asahi
Beer giant Asahi is tweaking the taste and packaging of its long-time product, the Asahi Super Dry, and says that today’s consumers are seeking out an “elevated experience” through a brand story, healthier options, and flavour innovations.
Asahi recently rolled out a new version of its flagship product, Asahi Super Dry, in Asia-Pacific markets including China, Hong Kong, Taiwan and China.
New Asahi Super Dry featured changes made to its beer recipe and packaging design. Its press statement highlighted that this is its first recipe refinement since introducing the beer in 1987.
The India market and increased innovation in health and functional trends hold the key to improved financial performances, claims Korean heavyweight Lotte.
Lotte recently announced its Q2FY2023 financial results, combinedly reporting 5.9% sales growth year-on-year to KRW3.87tn (US$2.92bn) across its consolidated businesses including food, beverages, retail, chemicals and more, but an overall 9% year-on-year decline in operating profits to KRW159bn (US$120.2mn).
Carlsberg Malaysia believes the end of its exclusive distribution partnership with Asahi is risk-free, and will use the opportunity to double down on its premiumisation strategy.
Carlsberg has held the sole exclusive distribution rights to the Asahi brand in Malaysia for over 10 years, but both brands announced earlier this year that they had mutually agreed not to renew this agreement starting 2024.
Hindustan Unilever Limited (HUL) has highlighted it will be proceeding cautiously in managing its food business for the rest of the year despite positive results in Q2FY2023, citing continued volatile climate changes and inflationary pressures.
HUL recently announced its Q2FY2023 financial results, reporting a 6.4% year-on-year revenue growth to INR153.3bn (US$1.85bn) and 8% year-on-year net profits growth to INR24.7bn (US$298.8mn).