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Growth Champions: The Battle for Sustained Innovation Leadership by

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CHAPTER 5

Nestlé and PepsiCo: Changing food and drink for the better

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Competition across the food and drink sector is intense. Traditional players are being confronted by new challenges around health and sustainability whilst regional players are increasing their reach and influence, particularly in emerging markets. Asia and Latin America provide the greatest attraction for both existing and new product growth, but other markets need to revise and rejuvenate their product portfolios to produce healthier but just as palatable food. Today companies such as Nestlé, General Mills, PepsiCo, Coca-Cola, Kraft, and Kellogg's have the largest market share and are battling to access new customers and provide better products for their existing ones.

Satisfying growing demand in emerging markets has become a stated priority for many of the large food and drink manufacturers. Approximately one billion new middle-class consumers will come into the market over the next decade and often one of the first things they do with their newfound wealth is to change their diet. For some this is about improving nutritional quality, increasing their protein intake, and helping their families to become healthier. For others, the attraction of cheap fast foods, convenience snacks and sodas, and more sugar-based products is an equal pull. Nutrition, health, and wellness are the buzzwords for most companies as ...

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