31 Oct 2018
Posted in Consumer
Mondelez’s launch of a specialist SnackFutures team is another important step towards innovation in wellbeing snacks, says GlobalData
Following the announcement of Mondelez’s new SnackFutures team,
Will Grimwade, Associate Analyst at GlobalData, a leading data and analytics company, offers his view on the company’s future:
“Mondelez’s recent Q3 results have been greeted with approval from investors and the latest announcement that they are launching a SnackFutures Innovation Hub in November to target key growth areas is an important move.
“The key growth areas; Wellbeing snacks, Premium snacks and Digital platforms, are all well-chosen and exploit the most important consumer trends in the snack space. According to our survey, conducted globally on 27,000 consumers, 82.3% say that how a food product impacts their health and wellbeing is a factor in choosing it, whilst 59.4% of consumers say how digitally advanced/smart a product is was also a factor in making their decision.
“Mondelez have recognized that their current brand portfolio, focussed in the Bakery, Savory Snacks and Confectionery sectors, is not particularly well placed to target these trends and that their stated aim in 2015 of 50% of products having a wellbeing focus by 2020 may be difficult.
“As well as the launch of SnackFutures, their recent acquisition of artisan cookie and biscuit brand Tate’s Bakeshop is a step in the right direction; artisan formulation and branding is one way of marketing products as premium and the Tate’s Gluten Free range effectively targets a prominent wellbeing trend in this sector too.
“By bringing together internal talent, external experts and making suitable acquisitions whose knowledge can be learned from, Mondelez look to be making steps to better orientate their product portfolio towards modern consumer preferences.”
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Notes to Editors:
– Data taken from GlobalData’s Q3 2016 Consumer Survey
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