The changes come as the food giant cut its growth outlook for the full year and warned of sluggish consumer demand as consumers pull back on spending.

New product formulations and technological advancements in food processing are leading to an increase in confectionery product consumption.

The agreement between Hershey and nine cooperatives in Côte d’Ivoire seeks to partner with growers as a way to standardize cocoa cultivation and improve profits.

In other beverage news, cannabis drink brands launched a trade group this week with Washington, D.C. lobbyists in order to influence federal legislation.

The French food tech company aims to increase demand for its plant-based product, marketed as a one-for-one substitute for traditional chicken.