PepsiCo accelerator brand Hilo Life launches keto-friendly tortilla chips
- Hilo Life, a company of PepsiCo’s Hive accelerator, launched an almond flour tortilla chip targeting keto and carb eaters, according to a press release.
- The crisps are made with defatted almond flour to provide more protein than traditional almond flour without increasing the fat content. They contain 3 grams of net carbs and 9 grams of protein per serving, and come in three flavors: nacho cheese, ranch and spicy salsa.
- The keto-friendly segment continues to accelerate us as Hilo Life’s latest product joins other snack debuts over the past year including General Mills’ Ratio line and Swedish brand Nick’s Keto Cereal bar.
Hilo Life’s latest addition expands its portfolio of keto-friendly snacks, which also includes a mix of cheese and nut snacks presented in individual packs.
As consumers continue to explore different dietary approaches, from low-carb diets to plant-based diets, keto has become a popular option. High-fat diets saw the biggest increase in popularity between 2018 and 2019, according to Statistical, the total number of subscribers jumping 3%. The global keto diet market could reach a value of $ 1.11 billion by the end of 2023, Technavio reports.
But the high-fat, low-carb meal plan can make it difficult for dieters to find packaged products that fit the bill. However, a number of brands are launching keto-friendly products. Just last week, Swedish brand Nick’s launched Keto Snack Bars, while in September General Mills launched its first keto-friendly line, Ratio, which includes crunchy bars and dairy yogurt snacks. Conagra has also introduced keto-friendly versions of its Duncan Hines branded products, while healthier ice cream maker Halo Top has released seven flavors of keto.
PepsiCo has strived to add better-for-you brands to its offerings over the past few years, most recently through its Brand Accelerator The Beehive. TThe manufacturer of snacks and beverages recorded an increase in turnover in the better-for-you segment, from 38% of total turnover in 2006 to 50% in 2017. The following year, the company launched The Hive. The first brand to join was a manufacturer of plant-based protein bars, mixes and snacks. Health warrior in 2018 through an acquisition. He added a baked fruit and vegetable snack maker Naked to the line later that year and also acquired a probiotic drink maker KeVita. In 2019, he got carried away BFY brands, the creator of PopCorners.
The Hive offers PepsiCo a way to develop niche brands, which often require a different approach to marketing and distribution than conventional products. The company is also focusing on identifying which brands it can acquire to meet consumer demand instead of investing more time and money to create new brands in-house.
With such a large market opportunity, however, there are many more CPGs on PepsiCo’s heels. Kraft Heinz, Campbell Soup, Nestle and Conagra engage in similar brand acquisition and acceleration efforts. While this benefits consumers through increased product offering, it makes competition fierce among manufacturers.