The Future Snacking segment has continued to grow distribution both in the Swedish and international markets. With a strong demand driver and an ambition to drive value in the category for healthier and more sustainable food and snack products, Humble has made significant investments to expand the product offering, continued quality improvement and capacity enhancement initiatives to meet the increased demand.
Humble's investments have resulted in several brands in the Future Snacking segment growing rapidly through expanded product offerings, listings won and continued international expansion. Below are examples of some of the recent business events.
- Pändy, through a successful partnership with Humble's subsidiary First Class Brands, has quickly become a top seller at ICA in the segment since its launch in week 19, with several products reaching the top-5 in the sales charts.
- Wellibites has secured several strong listings, including at all Lifes and Dollarstore stores in Sweden, and has been launched for selected products at apotea.se, MEDS Apotek, apohem.se, Svenskt Kosttillskott, Proteinbolaget.se and selected ICA stores.
- Tweek has introduced a number of new flavors, including new product partnerships with Probrands, which have been well received by our customers. Tweek has also expanded product exposure through new listings with retailers such as Holland & Barrett, Snackfully and Epicurium in the UK and the Netherlands.
- True Gum has continued to expand its presence with new listings, including in the local market at Coop 365discount and through international expansion to Italy, Belgium, New Zealand and Germany, where True Gum's products can now be found at some of the major retailers such as Rossmann, dm-drogerie markt Deutschland, REWE Group, Countdown Supermarkets.
To accelerate the growth of sugar-reduced foods in the Swedish trade, Humble has, after the completion of the Privab acquisitions, also developed a new bulk concept "Sweets With Benefits", which means a new offering of sugar-reduced sweets where the consumer can choose. The concept will be test launched during the summer of 2023 and the aim is to roll out the concept on a larger scale during the second half of the year. The concept is the first commercial project to be launched from the Humble Incubator, where the Company aims to continuously launch new products and concepts through existing and new brands in order to drive increased organic growth and capitalize on the manufacturing and distribution platform available in the Group.
"Our products have reached a technological level where consumers no longer need to compromise on taste to indulge while avoiding high sugar and calorie intake. We continue to see a growing demand with an increasing share of total sales compared to regular confectionery and are convinced that Humble is uniquely positioned to continue to develop and accelerate the Swedish market's transition to a healthier candy. There is also great potential to drive a similar transformation in the other Nordic countries as well as other important international markets, where the potential is many times greater. Here we have an advantage in that Humble is already a leading player and owns the lion's share of the market in Sweden, and that we can use data to show how it both drives value and increases sales in the category. The global shift towards these types of snacks and confectionery products is still in its infancy and we are well positioned to continue to grow the market with innovative products through our own brands and also help external players as contract manufacturing partners." says Simon Petrén, CEO of Humble Group AB.
Humble is a leading brand owner and producer in the reduced sugar and sustainable food and snack product category. Through continuous innovation and a focus on quality and taste, Humble strives to offer products with less sugar and calories without compromising on taste, mouthfeel and texture.
For further information, please contact:
Simon Petrén, CEO, Humble Group AB
E-mail: simon.petren@humblegroup.com
The information in this press release was published through the agency of the contact person set out above, at the time stated by Humble's news distributor Cision at the publication of this press release.
ABOUT HUMBLE
Humble Group is a Swedish foodtech and FMCG group delivering the next generation of consumer products that are good for people and the planet. Humble focuses on the foodtech, eco, sustainability and vegan segments. The companies are growing through organic growth, acquisitions and leveraging synergies in the different business units: brands, distribution, manufacturing and ingredients. Humble's technologies, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve taste and texture for the next generation of sugar-reduced, sustainable and vegan products. For more information, visit www.humblegroup.com
Humble is listed on Nasdaq Stockholm, First North Growth Market, under the ticker HUMBLE. FNCA Sweden AB is Humble's certified adviser. Tel: 08-528 00 399, e-mail:info@fnca.se
