Check out our rundown of how the biggest US food producers are using venture funds, partnerships, innovation hubs, and other strategies to formalize the process of innovation.
Food industry leaders face a growing range of threats: increased competition from grocers’ private label products, activist shareholders pushing out executives, smaller brands stealing market share, and more.
Major food conglomerates hope innovation can help them adapt.
However, innovation is easier said than done.
Especially for large, global companies in legacy industries, trying to create a more innovative corporate culture can feel like trying to turn the Titanic in the face of the iceberg.
To stay competitive, large companies are using various strategies to carve out space for innovation, and to make sure the most creative teams can get a hand on the wheel.
We analyzed 15 of the largest branded food and beverage producers to understand how they’re changing their corporate structures to formalize processes for innovation.