Mondelez International is launching a new ‘innovation hub’ programme called SnackFutures, which aims to capitalise on emerging growth opportunities in the snacking segment.
SnackFutures will officially launch in November 2018 and will be led by Tim Cofer, Mondelez International’s executive vice-president and chief growth officer.
The hub has established three targets to capitalise on opportunities in the global snacks market and respond to changing consumer demands: Inventing new brands and businesses in key strategic areas; reinventing small-scale Mondelez brands with large-scale
potential; and venturing with start-up entrepreneurs to establish new businesses.
SnackFutures has identified three key strategic areas for the programme’s initial innovation projects: Well-being snacks and ingredients; premium snacks and ingredients; and digital platforms and capabilities.
Mondelez has stated that SnackFutures’ initial operational target is to contribute $100 million to revenue growth by 2022.
Cofer said: “Discovering and unleashing innovative ideas in snacking that will delight consumers and drive growth is a key element of our new strategy.
“We are launching SnackFutures, a new forward-thinking innovation hub, to capitalise on new trends, and mobilize entrepreneurial talent and technologies to build and grow small brands with large-scale potential.
“SnackFutures will unlock snacking growth opportunities around the world that respond to emerging trends and changing consumer preferences.”