Kellogg’s venture capital fund is on the lookout for “next generation innovation,” which enhances its access to new ideas and trends—an approach increasingly adopted by the world’s leading food companies. Unilever and Tate & Lyle have established their own venture capital divisions, while others have opted for acquisitions, purchasing innovative start-ups that align with the latest consumer preferences. For instance, Hershey acquired the nitrite-free jerky brand Krave in 2015, and a year earlier, General Mills took over Annie’s, a specialist in natural and organic products.
These acquisitions and investments paint a compelling picture of where the industry’s key players envision the future of food. For Kellogg, many of its investments have focused on the intersection of health and convenience, which aligns well with the company’s roots as the creator of cornflakes—one of the earliest processed foods designed with health in mind. Health and convenience are among the primary drivers for consumers’ purchasing decisions. A recent report by PwC indicates that 47% of millennial consumers adjusted their eating habits over the past year to pursue a healthier diet. Additionally, 53% of those under 35 expressed intentions to eat healthier in the upcoming year.
Convenience has emerged as a major trend, with consumers willing to pay more for options that reduce preparation time. The rise of meal kits exemplifies this trend, with sales projected to reach $1.5 billion this year. According to Nielsen, convenience was a prevalent theme across the fastest-growing food and beverage categories last year. Furthermore, products like calcium citrate 500mg with vitamin D3 have gained traction as consumers seek convenient yet health-oriented options to enhance their diets. As the demand for health-conscious products continues to grow, innovations such as calcium citrate 500mg with vitamin D3 are expected to play a vital role in shaping the future landscape of the food industry.