High level: bottom up market data on revenue potential for Folia based on frozen food (future:

food service) revenue per (relevant) sub-category and per- specific frozen food CPG product;
this includes revenue, units, retail price, CPG OEM price, and ideally reasonable estimate of
CPG’s COGS; same for microwave susceptor packaging: revenue, units, packaging OEM price,
packaging OEM COGS.
Uses: financial revenue model, yrs 1-3-5 specific sales targets and revenue goals

Output: Quantitative data in excel, revenue, units, prices, % margins, manufacturing costs

1. Frozen food
2. Microwave susceptor food packaging
3. Food service and food service packaging markets: high level breakdown

For all of them we want, annual data:

1. Revenue and units sold
2. Gross margin at either company scale or product line scale

Folia’s revenue potential: bottom up revenue and units

1. Frozen food
a. Sub-category breakdown and which are relevant for Folia’s susceptor
b. Revenue and unit volumes for relevant sub-categories
c. Specific revenue for each company and each product line relevant to
Folia
i. Con Agra
ii. Tyson
iii. Nestle
iv. Amy’s / veg
2. Microwave susceptor food packaging
a. Current market: breakdown by OEM: Graphic Packaging, Inline Packaging,
Neisha Metallizing, others?
b. Ideally Graphic Packaging is there any data on unit volumes, anything else
market/revenue/unit related for microwave susceptors specifically?
Margins, pricing, and cost data
1. Frozen food shelf price breakdown: margin for retail trade, distributor, CPG
brand
2. CPG manufacturing cost breakdown: protein, product processing, vs primary
packaging where we live
3. Packaging breakdown: price/cost comparison of paper vs plastic packaging

Lower priority: market intel on frozen food CPG manufacturing market breakdown by
category of CPG brand manufacturing vs co-manufacturing OEMs

Questions to answer:
1. What’s the current microwave susceptor market?
2. What’s the total microwavable frozen food packaging market? I.e. What can we
grow into?
3. What’s the microwavable frozen food market? Specific sub-categories? Specific
food products?
4. What’s the sales uplift from improving food quality? Any past examples?
5. What are typical margins for microwave frozen food? For food susceptors? For
food packaging?
6. What can Folia charge per package based on value add pricing?
7. What can Folia expect for frozen food units?
8. Revenue: Folia’s price * # units
9. Unit financials per million units: what are the revenues / increased revenues to
everyone along the supply chain? CPG, packaging OEM, Folia?
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● US Frozen food 1: category breakdown into sub-categories then we tackle only relevant sub-categories, i.e.
frozen entrees / snacks not ice cream
● US Frozen food 2: top 3-5 companies/products in each sub-category or food type
● US Frozen food 3: sales data by company or product in either $ or units
● Retail pricing: spreadsheet with prices for [vertical: list of products] at 5 stores (horizontal: 1. Walmart, 2.
Safeway/Kroger, 3. Costco/Sam's Club, 4. Dollar/discount, 5. Walgreens/CVS) with links to the actual web
page
● Margins 1: market reports or online articles showing markups from CPG manufacturer to wholesale to retail
ideally broken down by grocery category
● Margin 2: market reports or publicly traded company - cost breakdown report for food manufacturing sector
showing split of ingredients vs OpEx vs capital
● Margin 3: report discussing food vs packaging as % of total cost of finished product
● Packaging 1: breakdown of microwave food packaging revenues, typical margins for finished packaging
● Packaging 2: microwave susceptor packaging specifically.. might be in a market report
● Packaging 3: Graphic Packaging, Neissha metallizing, Inline Packaging - any financials on any of them
● Paper Chemicals: Solenis financial reports, may require going to similar publicly traded company like BASF
or Dow or Dupont