CHICAGO — Conagra Brands Inc. is focusing on the future of its frozen food brands by capitalizing on popular consumer and restaurant trends.
As part of its 2024 innovation agenda, the Chicago-based company plans to extend its brands into new eating occasions to create new opportunities.
In January 2024, Conagra entered into a partnership with Dolly Parton to develop a line of retail food items, which will include frozen products, as well as refrigerated, grocery and snack products.
“Our next step is to move Dolly into the frozen category with baked goods and frozen meals,” said Thomas M. McGough, co-chief operating officer, during a presentation at the Consumer Analyst Group of New York conference taking place in Boca Raton, Fla., Feb. 20-23. “We’re just getting started here. There’s a lot more to come in the upcoming years.”
Sales within Conagra’s Refrigerated & Frozen segment fell 8.1% to $1.20 billion as price/mix decreased 4.8% and volume decreased 3.3%, but the decline in price/mix was mostly due to investments in the frozen food business. Conagra gained dollar share in several categories, including frozen sides, frozen single-serve meals, frozen breakfast and frozen seafood.
“We are outperforming the (frozen food) market on a volume basis amidst what’s been a challenging volume environment overall,” said Sean M. Connolly, president and chief executive officer, in an April 4 earnings call. “We realized a one-point unit share gain in the total category with single-serve meals, sides and desserts driving the increase and strong performance from some of our biggest and most strategic brands like Healthy Choice, Banquet, P.F. Chang’s Home Menu and Marie Callender’s.”
In March, Conagra debuted a line of meals, vegetable sides and snacks at the Natural Products Expo West, which took place in Anaheim, Calif.
The company introduced new products across many of its brands, including Alexia, Blake’s, Evol, Frontera, Gardein and Purple Carrot.
Evol, which has been around for more than 20 years, introduced a platform for plated meals at the trade show. The line features four varieties: hot honey chicken, garlic herb steak, chicken adobo and homestyle meatballs and orzo.
“Where Blake’s is focusing on comfort-style recipes, you’ll see more of that modern restaurant, modern American-type flavors coming forward in Evol,” said Rich Campbell, brand director, frozen portfolio, at Conagra. “For us as we look at the single-serve category, there’s really a white space and a gap in food that focuses on flavor. You see a lot of single-serve meals that focus on health and lifestyle attributes — and there’s certainly a job for that — then you see stuff that focuses on a ton of indulgence, and there’s a time and place for that. But certainly, a growing pocket is food that focuses on flavor.”
