Expansion into multi-billion dollar snack bar segment represents significant growth opportunity for leading organic and plant-based company
TORONTO -- (Business Wire)
SunOpta™ Inc. (Nasdaq: STKL) (TSX: SOY), a pioneer in plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production, today announced the nationwide launch of arbor™ bar. With the arbor bar launch, SunOpta is eyeing new opportunities for growth in the multi-billion dollar snack bar segment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200803005423/en/
With five ingredients or fewer, real fruit and 0 grams of added sugar, new certified organic arbor bars are available nationwide in three delicious flavors – Apple + Berries, Apple + Blueberry and Apple + Raspberry. (Photo: Business Wire)
“Given our leadership position in organic ingredients and our fruit snacks platform, there’s no better company than SunOpta to successfully bring an organic fruit bar to the market,” said Michael Buick, Senior Vice President and General Manager at SunOpta. “Many fruit-based snacks are really faux candy, so we wanted to create a certified organic bar that elevates and celebrates the simple goodness of fruit with 0 grams of added sugar and only five ingredients or fewer.”
“Innovation is a core priority for SunOpta as we seek to accelerate the pace of bringing healthy, sustainable products to market. Adding owned brands to our current go-to-market strategy of co-manufacturing and private label gives SunOpta three options to drive more growth through innovation. In our fastest growing business unit, plant-based foods and beverages, 30 percent of our growth in the last six months has come from new products. We’re looking to bring this same innovation focus to our fruit business unit,” concluded Buick.
The health and nutrition bar segment ($1.95B) is the largest in the snack bar category, and it’s driving strong growth1. What’s more, 62 percent of consumers are monitoring their daily sugar intake2, and fruit snacks represent one of the highest growth categories in consumer packaged foods, at 12.6 percent growth in dollar sales3.
arbor bars stand out with five ingredients or fewer, real fruit and 0 grams of added sugar in a category where there are competitors with as much sugar as candy and long lists of genetically modified ingredients. The three delicious flavors – Apple + Berries, Apple + Blueberry and Apple + Raspberry – are certified organic and non-GMO Project Verified, including apples sourced in the Pacific Northwest.
“It’s incredibly challenging to innovate snack bars that are flavorful and delicious yet contain 0 grams of added sugar and five ingredients or fewer, which is why you so rarely see them on the market,” said Bryan Clark, Vice President of Research and Development at SunOpta. “When we set out to make an organic bar, we wanted the perfect pick-me-up snack that health-conscious families could feel good about eating. Our arbor bar innovation delivers, with 100 calories per bar.”
arbor bars are available in 5-ct cartons for an SRP of $6.49 and can now be purchased in more than 1,000 Walmart stores nationwide. Find more information on arbor bar online at www.arborbar.com or on Instagram @arborfruitbar.
About SunOpta Inc.
SunOpta Inc. is a leading global company focused on plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production. SunOpta specializes in the sourcing, processing and packaging of organic, natural and Non-GMO food products, integrated from seed through packaged products, with a focus on strategic vertically integrated business models.
1Nielsen AOD: Total US xAOC 52wk ending 4/18/20
2FMCG Gurus (2019, June) FMCG Gurus: Trends and Developments in Active Nutrition: New Consumer Insight
Retrieved from https://bridge2food.com/wp-content/uploads/2019/06/2019-ASN-Summit-Track-1-Day-1-4-Rooban-Princely-FMGC-Gurus.pdf
3Food Business News (2020, May 5) The snack trends predicted to persist post-pandemic
Retrieved from https://www.foodbusinessnews.net/articles/16078-the-snack-trends-predicted-to-persist-post-pandemic
View source version on businesswire.com: https://www.businesswire.com/news/home/20200803005423/en/
Haberman for SunOpta
Source: SunOpta Inc.
© 2020 Canjex Publishing Ltd. All rights reserved.