![]() New products: Cookie dough bites and dairy-free options “Now you walk into a lot of retailers that have these mochi bars and they have realized that this is really where the big sales and profitability is coming from in this category, so it’s very attractive for retailers as well as consumers.” The appealing thing about the grab & go mochi pioneered by Whole Foods, is that consumers can try the product for the first time without buying a whole pack, and test out new flavors before heading to the frozen food aisle to purchase their multipacks, said Schaffer. ![]() Mochi bars great for trial and discovery In measured US retail channels the market has grown from around $10m to $32m over the past two years, but once you include retailers such as Whole Foods, Target, Costco and others that don’t share their data, and add in foodservice sales (restaurants, casinos etc) and retailers’ mochi bar sales in bakery (where the bites are sold individually from branded freezers), the total category is probably closer to $200m, claimed Schaffer. So what’s the size of the prize for mochi in the US? “One thing you’ll notice is that other mochi brands have a lot of flour dust in and around the product that stops the mochi dough from sticking to the plastic whereas we don’t need that because we freeze them in the nitrogen tunnel individually rather than in the plastic trays.” air takes up a smaller percentage of the volume).Īnother difference that consumers often notice is that there is less powder in a box of Bubbies because of the way they are frozen, claimed Schaffer. So are all mochi makers basically selling the same thing, or are there differences between the key players beyond branding?įlavors and ingredients vary between brands, and Bubbies’ mochi are slightly smaller than My/Mo Mochi Ice Cream, weighing in at 35g with 90 calories per bite vs My/Mo’s 43g and 110 calories per bite, but one key difference – according to Schaffer – is that the ice cream in Bubbies’ mochi has a denser, creamier, texture owing to its higher butterfat content and lower air overrun levels (ie. “It’s significantly larger than the plant in Hawaii and makes all of the product we sell outside of Hawaii.” Denser, creamier texture ![]() We opened a new state of the art factory in Phoenix in the first quarter of 2018 with a proprietary manufacturing process unique in this industry. He added: “The Hawaii plant wasn’t capable of meeting demand and the owner wanted to retire, so Kenex saw an opportunity with a high growth company operating in a high-growth category. And we’re still just scratching the surface when it comes to unlocking the potential of this market.” This year our business will be four times larger than when we acquired the company two years ago in dollar volume. “The whole category is growing, and My/Mo is a great product, but we’re outpacing the category growth significantly. Right now, the mochi market is dominated by two brands, Bubbies and My/Mo Mochi Ice Cream, said Schaffer, who took the helm at Bubbies just before the Hawaii-based firm was acquired by private equity firm Kenex Holdings in late 2016/early 2017, and has steered it through a period of dramatic expansion. ![]() Emulsifiers, stabilizers, hydrocolloids.Chocolate and confectionery ingredients.Carbohydrates and fibers (sugar, starches).Plant-based, alt proteins, precision fermentation.
0 Comments
Leave a Reply. |