Innovation is one of the driving growth factors for any organization to succeed. The food industry has one of the most exciting tasks of serving current consumer demands and predicting new ones. Digital advancements, new packaging developments, and cross-industry initiatives are changing the face of food production. Some organizations have successfully cracked the code of balancing fresh ideas with profitable business growth models.
The Taste of Crate & Barrel
Crate & Barrel has already made a recognizable name for themselves within the retail industry. Now, the company has made strides to branch out into unfamiliar territory. The Table at Crate, Crate & Barrel’s first restaurant, opened last week near Chicago. The organization partnered with Chef Bill Kim, with influences from Korea and Puerto Rico. Crate & Barrel’s partnership with Chef Bill Kim is poised to broaden the reach of their brand 1 into an entirely new industry.
A New Source of Protein
As consumers have become more health-conscious, various forms of protein sources have increased in the marketplace. Now, plant-based alternatives are taking the place of meat to support vegetarian and vegan diets. However, the demand is growing by leaps and bounds which is depleting the available supply. Solar Foods is making strides for offering yet another protein source, from thin air. The company is creating Solein, their version of protein, from gas-based fermentation 2. The new protein will be available in a powder form to use in food production.
KFC’s Global Strategy
KFC operates in 135 countries, with over 22,000 restaurants. For this reason, they have mastered the development of cultural tastes that satisfy each location’s consumer demand. The restaurant chain has a vast array of offerings such as shrimp doughnuts (Thailand), egg tarts (Singapore) and nachos boxes (Australia), for instance. As a result of meeting demands of consumers with various menu options, KFC has continued to experience immense growth and success 3.
Traditional methods for consumer packaged goods and restaurant operations have changed dramatically. As a result, organizations are expanding their capabilities to find success in new sectors. Consequently, the food industry has grown tremendously, with fresh ideas that push boundaries and exceed demands before they even arise.
1 Crate & Barrel Wanted A Restaurant; Chicago Chef Bill Kim Jumped In by Micheline Maynard
2 Making Protein From Thin Air? Yes, Start Ups Are Doing It. by Brian Frank
3 A Look At The Menu Innovation Driving KFC Global’s Sales Momemntum by Alicia Kelso