Posts tagged with "Label Insight"

Will this food trigger allergies? Label Insight discloses the ingredients

March 26, 2019

Label Insight, a Chicago-based firm that “decodes” and “interprets” food label data for retailers—and, in turn, for U.S. shoppers who want to know more about the ingredients they will be consuming—has raised $21 million in new funding, The Chicago Tribune reports.

The series C round brings the company’s total funding to roughly $35 million; the company closed its last round in January 2016, The Chicago Tribune notes. Delta-v Capital led the round alongside River Cities Capital Funds. Delta-v managing partner David Schaller joins Label Insight’s board along with the deal.

The company—which was founded by brothers Dagan and Anton Zavier in 2008 in order to increase transparency in food, pet, and personal care marketing and enable customers to make more-informed purchasing decisions—claims to offer “more than 22,000 high-order attributes per product.”

Thus, a shopper with an allergy can ask a store rep and quickly figure out what products to avoid. Retailers get a tool to help customers understand what they’re buying, while companies can offer more information to sway ingredient-conscious shoppers.

The company says it works with top brands like Unilever, Conagra, L’Oreal, and Ocean Spray, and its database has information on more than 400,000 products. It provides that information to retailers like AlbertsonsMeijer, and Raley’s.

Earlier this year, Label Insight announced it was expanding into products like pet food, over-the-counter medicine, vitamins and supplements, and personal care items. CEO Paul Schaut said Label Insight plans on building its database to one million items with the new funding.

The series C round brings the company’s total funding to roughly $35 million; the company closed its last round in January 2016, The Chicago Tribune notes. Delta-v Capital led the round alongside River Cities Capital Funds. Delta-v managing partner David Schaller joins Label Insight’s board along with the deal.

“The consumer’s mandate for more information doesn’t stop with what they eat—it includes what they put on their bodies, personal care; it includes what they feed their pets, pet food; or their babies, baby food,” Schaut told the news outlet. “It’s not going to stop at what they buy at the grocery store. You get on a plane, you go to a restaurant, you’re going to want to know more about what you’re eating. Our business is just to support the industry any place the consumer is asking for more information.”

Schaut said Label Insight currently employs about 115 people, split evenly between its Chicago and St. Louis offices. With the funding, it plans to bring that number to 170 within the next 12 months. The hires will be focused on the company’s data science team,s as well as its sales and marketing teams, he said.

Research contact: bmeyerson@chicagotribune.com

We are what we eat: Fads and fundamentals for 2018

February 20, 2018

Healthy, socially conscious food purchases will be a priority for 67% of Americans this year, according to a recent survey by Label Insight, a strategic Nielsen partner that specializes in ingredient and attribute data analysis.

When it comes to additives, 68% of U.S. consumers that they are looking for products that are “free from” certain undesirable ingredients—from artificial colors to malt flour to sulphur dioxide—across the store, including dairy, grocery, dog food, and various non-food categories.

Shoppers also are looking for healthful ingredients that are being substituted for those that are not so good for you. For example, sales of products containing cauliflower as an ingredient grew 71% in dollars in the last year, while products with kale and cranberries also experienced positive dollar growth (13% and 9%, respectively).

Vegetables also are being substituted for meat and dairy protein sources. Sales of plant-based protein options are growing across the store, with 20.7% dollar growth in frozen prepared foods that are plant-based, 18.9% dollar growth for fully cooked plant-based meats and 14.1% dollar growth for plant-based diet and nutrition products.

What’s more, Americans increasingly are turning to food as a form of medicine, leveraging the health benefits that certain ingredients bring to the table. In the beverages category, for example, ingredients described as an “excellent source of protein,” “cold-pressed,” and “probiotic” are driving significant.

And it doesn’t end with edibles: shampoos and conditioners containing strawberries as an ingredient grew 107% in the last year.

Finally, there is one other ingredient that shoppers are avoiding: sugar. Nationwide, 22% of Americans say they already are taking matters into their own hands by restricting their sugar intake, and 50% of Americans say they are planning to eat less sugar or buy “no sugar added” products this year, according to a survey by Label Insight. And at the shelf, how products are sweetened matters. Notably, sales of products that contain non-caloric sweeteners and are free from artificial sweeteners grew 16% in dollars in the last year.

Research contact: genevieve.aronson@nielsen.com