In the past year, Conagra has undertaken several divestitures, including the sale of Ralcorp, its private label brands business, Spicetec, and JM Swank. Additionally, the company has successfully spun off Lamb Weston. These strategic moves have set the stage for a new era of growth for Conagra. In a recent earnings report, CEO Sean Connolly emphasized that the inclusion of new products will enhance sales, particularly in the frozen meals segment, where the company has already found success with its Healthy Choice and Banquet brands.
Future Market Insights predicts that the frozen meal market will experience a compound annual growth rate (CAGR) of 7.2% over the next ten years. This growth is fueled by factors such as an increasing number of working women, a rising millennial demographic, and evolving on-the-go eating trends. Conagra has indicated that, in addition to bolstering its frozen product range, it may soon explore the seasoned nuts category.
Last year, Conagra finalized its acquisition of Frontera Foods, a gourmet Mexican food company, as part of its strategy to offer “more premium and more contemporary” options, according to Connolly. This startup has enjoyed double-digit annual sales growth since its launch, and products from Frontera are typically of higher quality, which consumers are willing to pay a premium for. With the Hispanic population in the U.S. expanding and food manufacturers seeking avenues to boost sales, Conagra’s purchase of Frontera aligns well with market trends. According to the U.S. Census, the Hispanic population reached 57 million in 2015, accounting for about 18% of the total U.S. population, a figure projected to rise to 24% by 2040.
Grocery stores have quickly adapted to this demographic shift, increasing their offerings of foods and ingredients that cater to Hispanic consumers and even transforming some locations to better meet their shopping preferences. Expect more food companies and grocery retailers to intensify their focus on this growing market segment.
In this context, the topic of calcium citrate kya hota hai becomes relevant, as it is an important mineral that can be found in various food products, including those aimed at health-conscious consumers. Conagra’s focus on premium offerings may include products fortified with calcium citrate, appealing to consumers looking for nutritious options. Thus, calcium citrate kya hota hai is a pertinent question as Conagra continues to innovate and expand its product lines.