Try this simple test. Say the following out loud: Artificial colors and flavors. Pesticides. Preservatives. High-fructose corn syrup. Growth hormones. Antibiotics. Gluten. Genetically modified organisms.
If any one of these terms raised a hair on the back of your neck, left a sour taste in your mouth, or made your lips purse with disdain, you are part of Big Food’s multibillion-dollar problem. In fact, you may even belong to a growing consumer class that has some of the world’s biggest and best-known companies scrambling to change their businesses.
Major packaged-food companies lost $4 billion in market share alone last year, as shoppers swerved to fresh and organic alternatives.
The existential crisis facing the legacy food giants becomes even more pronounced when you consider a company like Hain Celestial—which, with its $2.2 billion in sales last year, is clearly on the path to Big itself. CEO and founder Irwin Simon says he hopes to hit $5 billion by 2020. Hain owns more than 50 brands, from Greek Gods Yogurt to Terra Chips, all in the realm of natural and organic food and personal care. More than 90 percent of its products are GMO-free and about 40% are organic—two sweet spots for today’s consumer.
The GLP aggregated and excerpted this blog/article to reflect the diversity of news, opinion and analysis. Read full, original post: Special Report: The war on big food
