Following its gluten-free launch from earlier this year, Goodles launched its two deluxe flavors — an aged white cheddar Shell We Dance and mild cheddar Ched Over Heels — with a squeezable cheese pouch at Target and on the brand’s website. The product retails for $4.99 and contains 16 grams of protein and seven grams of fiber per serving.
The squeezable mac and cheese segment — i.e., the deluxe segment — accounts for 28% of the overall mac and cheese market (excluding private label), according to SPINS MULO data for the 52 weeks ending, April 24. However, the squeezable mac and cheese market has not seen the same level of innovation as dry-mix products, Zeszut noted.
Goodles will use a "parallel roadmap" from its dry-mix line to develop its deluxe portfolio, adding a combination of classic and bolder flavors, Zeszut explained. Similarly, Goodles plans to use its bold and fun promotional techniques to introduce the new deluxe product and using the phrase "your new main squeeze" in its marketing content, she added.
“This is going to be a fun one, and we do think that it has the potential to completely double our revenue because it is the exact same size market [as dry-mix mac and cheese], and it is in a category that is a little bit sleepy. There has not been a lot of innovation on the nutrition front or on the branding front in that category. So, it is teed up for Goodles to do its thing,” she said.
Better-for-you mac and cheese category grows
Over the last several years, the mac and cheese category has seen an influx of better-for-you brands with clean-label products and enhanced nutrient content. Recently, EQUII launched a complete-protein mac and cheese, and Kraft-Heinz launched a dairy-free mac and cheese in collaboration with plant-based company NotCo.
The global packaged mac and cheese market was worth $5.46 billion in 2022 and is expected to grow to $7.76 billion by 2030, growing at a 4.5% CAGR from 2022 to 2030, according to a Research and Markets report.
While “mac and cheese is not very seasonal,” Zeszut pointed out that the market should see several small spikes in sales in the coming months, including in the back-to-school and after-Thanksgiving timeframes. Goodles also sees a boost in sales at the start of the year, as consumers seek out products to support their New Year’s resolutions, she added.
Goodles' funding future: ‘We aim not to raise again’
Goodles is not slowing down on the new product innovation and expects to make a new product announcement within the next couple of months, as the company continues to see growth across its business. fact, Goodles "contributed 74% of growth in the total branded boxed [and] original sub-category of mac and cheese," according to SPINS, MULO data for the 52 weeks, ending May 19, Zeszut shared.
"We are only two and a half years in, so hitting this place and not having to fundraise again after just a series A is not easy. It is hard to navigate and to do ... We have always been focused on generating legendary business results, but there are many ways to chase that. And we have been focused on not just chasing top-line sales opportunities, so it is both the top line and the bottom line that are so important to us," she said.
She added, “We aim not to raise again — that is what we are working towards. So, we are not in the process of fundraising. We are at a place where the business is kicking off what we need to continue to grow.”