Nestlé USA has revealed a partnership with three start-ups which, it says, “represent the future of food” as part of the Terra Food & Agriculture Accelerator founded by RocketSpace and Rabobank.
The world’s largest food company is working with: Here, a manufacturer of cold-pressed juices, dips, spreads and salad dressings; Jackson’s Honest, which makes tortilla chips and potato crisps; and Miyoko’s, which makes cheese and butter from plants.
Nestlé said each of the brands is creating on-trend foods focused on plant-based nutrition, simple labels and fresh ingredients.
The Terra scheme was launched last year and sees around 20 start-ups supported over the duration of two six-month programmes. Nestlé hopes the initiative will provide fresh thinking from outside the company to keep it at the forefront of the rapidly-changing food market.
Ashlee Adams, Nestlé head of open innovation, said: “These companies represent the future of food. Our open innovation efforts are focused on meeting companies where they are in their stage of growth and designing win-win partnerships that accelerate that growth.
“We look forward to working with these companies to share learnings, develop new capabilities and create something better together as we bring people more options in categories that are in high demand – healthy snacking and plant-based foods.”
Nestlé said its innovation strategy focuses on reinvigorating its base brands, using new internal incubation models to launch products quickly, and leveraging strategic partnerships with emerging growth brands – like those in the Terra programme.
Nestlé has come under increasing pressure from activist investor Third Point to overhaul its business and quickly respond to shifts in consumer behaviour after it bought a 1.25% stake in the company last year.
In July, Nestlé highlighted the “swift and decisive” action it is taking to deliver results. It drew attention to the acquisition of nutritional health product supplier Atrium Innovations and investment in brands such as Freshly, Sweet Earth, Blue Bottle Coffee, Chameleon Cold-Brew and Terrafertil.
By: Contributoron
Source: Food Bev Media
Kerry’s 2023 flavor insights report reveals the latest foodservice flavor trends consumers are seeking, including new combinations of traditional tastes, indulgence, and younger consumers seeking unconventional mashups of food and beverages they grew up with in combination with emerging flavors from other regions.
Stephanie Pullings Hart has been named deputy head of operations at Nestle SA, effective July 1. She will succeed Magdi Batato, who is set to retire after a 30-plus-year career at Nestle. Ms. Pullings Hart is currently senior vice president of operations at Warby Parker, where she is responsible for manufacturing, supply chain and customer experience.
Customer Foresight can identify early indications about impending future shifts that will impact the food and beverage industry. According to Givaudan, it is designed to support customers in understanding, planning for and addressing disruptive changes in consumer desires, guiding strategic planning, and leading to co-creation opportunities.