New Kids On The Block: Why CPG Entrepreneurs Are Gravitating Towards Puffed And Extruded Snacks [Forbes]
Amazon.com, Inc. (AMZN)
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Source: Forbes
LOS ANGELES, CA - APRIL 08: Hippeas at Kinder Ready & Elementary Wise Academic Classes on April 8,... [+]2018 in Los Angeles, California. (Photo by Tasia Wells/Getty Images for Kinder Ready, Inc. )The $9 billion puffed and extruded snacks category in the U.S., which has been dominated by brands such as Cheetos owned by food and beverage giant PepsiCo and Pirate Brands, acquired by Hershey for $420 million in 2018, is bracing for an increasing number of new players, who believe the segment urgently needs to be reinvented with better ingredients.HIPPEAS, the brainchild of Italian entrepreneur Livio Bisterzo, and PeaTos created by Nick Desai have separately entered the market over the recent years and reported exponential growth.“We are growing [by] triple digits annually and our growth has accelerated,” Desai wrote me via email, noting PeaTos is their newest brand and product line under the Snack It Forward umbrella.He said the company is on a mission to upgrade America’s favorite snack
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