Consumers are increasingly making their voices heard. They are demanding more healthy food choices, increased product transparency, and new innovative packaging. They expect food companies to make immediate adjustments to meet their needs. Regulatory bodies are also putting pressure on food companies in some of these same areas including restrictions on unhealthy product ingredients, product labeling, food safety, and traceability. To meet these demands and further direct the business as a whole, food companies must collect and analyze data from many sources – suppliers, wholesalers, retailers and consumers – to ultimately translate this data into action.
This trends paper highlights four key trends impacting food companies and provides guidance on how to successfully navigate each.
ABOUT THE AUTHORS
Tom Finegan has guided Clarkston’s vision since co-founding the firm 20 years ago. Tom is a recognized expert in business corporate, business unit, and transformational strategy development for global Life Sciences and Consumer Products companies.
Maggie Seeds is a Food and Beverage consultant, enthusiastic about applying her insights and experiences to move the industry forward. Maggie’s cross-functional background leaves her interested in a myriad of issues faced by the industry, from technical opportunities to strategic ventures and global concerns.