Scandinavia’s Fazer group records strong annual performance, and releases key new protein powered confectionery
The Scandinavian-based Fazer group, which includes strong confectionery and bakery interests has released its latest annual results, with net sales totalling €1.18 billion for 2024, up 1% year-on-year, as it continues a strong pipeline of sector innovation, reports Neill Barston.
According to the company, which also had dairy interests which were sold in 2023, it has made solid progress across its core S business units, amid ongoing market challenges that have been marked by ingredients increases and supply chain tests.
The company now operates three distinct strands, its confectionery, bakery and lifestyle foods categories, as well as having interests in grain milling within the Nordic market, that has given it a strong overall portfolio.
According to the firm, 2024 “Characterised by an increasingly demanding operational environment, where consumer continued cautiousness continued to impact the market, resulting in intensifying competition.”
The company added that there remained particular issues in relation to elevated cocoa prices, as well as Finland’s decision to place chocolate and sweets within a higher VAT bracket had created further uncertainty.
Despite this situation, the company said it had focused its product development on popular consumer favourites, backed by effective marketing strategies, as well as paying attention to customer service and maintaining cost efficiencies that had made a positive difference.
The company noted that there remained challenges within the Finnish confectionery sector, though it had noted gains for the biscuit market that was enjoying improved fortunes due to private label sales. Launches within seasonal products and gifting ranges also provided a positive uplift for the business
Future Food-Tech
The group has continued to be present at a number of key trade events around the world, including Future Food-Tech event in San Francisco today (March 13-14), where it is set to introduce its advanced Taste the Future products.
These include a chocolate snack bar and oat drinks, powered by Solein, a new pioneering ingredient produced through a fermentation process that uses thin air and electricity as its main resources, with the US being only the second country in the world where it can be sold.
As the company explained, in a world where food security is becoming an increasing challenge around the world in terms of stable supplies, the ability to generate alternative sources is becoming increasingly significant. Moreover, gaining direct consumer feedback on novel approaches to product development is highly important in its view.
Furthermore, the company is offering participants at the show event a unique opportunity to taste its key innovation made by Solar Foods, a Finnish food technology company, which is on a mission to revolutionise global food production. By producing protein from thin air, it aims to address global food availability challenges by minimising resource use and environmental impact.
“We are excited to introduce edge-cutting innovations through the Taste the Future products, reinforcing our commitment to innovating the future of food and developing sustainable food solutions that meet the needs of future generations,” says Heli Anttila, VP, New Product Development at Fazer Confectionery.
“The Future Food-Tech event in San Francisco provides us a great opportunity to offer tastings of our Taste the Future chocolate snack bar and oat drinks. The feedback we receive will be important in refining and developing these products further.”
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