The food industry is in the eye of a hurricane named Disruption.
Sweeping consolidation has turned the traditional food industry on its head, leaving major companies like Heinz, Kraft and Unilever feeling under siege. Other major players are working to “redefine” themselves before they become acquisition targets. Taste preferences have evolved and weekday sit-down meals are no longer a mainstay as families are increasingly on-the-go. Therefore, convenience is the name of the game.
Big companies are being challenged by upstart brands: Chobani challenged Yoplait and Dannon, long-time leaders in the yogurt market, and KIND bars have become one of the fastest-selling snack bars on Amazon. Neither company existed at the beginning of the 21st Century! Is the “slow and steady wins the race” mantra of the food industry on the way out?