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March 5, 2019

Mars latest food giant to launch accelerator

Another of the world's largest food companies has launched an accelerator in which it aims to work with fledgling companies.

By Dean Best

Mars has become the latest food major to launch an accelerator scheme to work with fledgling peers.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

The Snickers chocolate and Dolmio cooking sauce maker said its accelerator initiative would “help early-stage food-focused companies fast-track growth and live their purpose to build a healthier and more sustainable future”.

Mars, which has named its accelerator after organic-food brand Seeds of Change, is looking to select six companies in the US and four in Australia, which the privately-owned giant said are “among the largest markets” for its food operations.

In a statement provided to just-food on why Mars had chosen the US and Australia, the company said: “The food space is moving at an incredible pace today: consumers’ tastes and wants are changing faster and more frequently than ever, and certainly that’s true within the US and Australia markets as in others. Mars gains value in leveraging the accelerator as an external innovation tool and an opportunity to take a wider view across the food ecosystem to move the business and our purpose toward the front line of rapidly-evolving trends.”

Mars said it will give a grant of up to US$50,000 to each company that takes part in the accelerator. The firms will take part in a four-month programme to “scale” their operations, Mars added.

The accelerator is being led by Gary Arora, who is the global lead of open innovation at Launchpad for Mars, a unit at the company that already looks to work with start-ups. He said: “The Seeds of Change brand is a prime example of the power of starting small and growing strong,” Arora said. “Seeds of Change was founded nearly 30 years ago to preserve the biodiversity of seeds and to make these organically grown seeds more readily available to gardens and farmers. By helping start-ups tackle practical business challenges, such as scaling a product and brand storytelling, and giving them access to our extended network of mentors and advisors, we’re nurturing the next generation of fresh ideas that will shape and enhance the meals of tomorrow.”

Start-ups have until 31 May to apply to join the accelerator.

just-food guide: Hatching new ideas – Big Food’s incubator and accelerator programmes

just-food deep-dive: How is Big Food using accelerators and incubators?

Interview from September 2018: “We’ve got to be part of a wider ecosystem to succeed” – PepsiCo’s Daniel Grubbs on why the Nutrition Greenhouse accelerator is hitting North America

Related Companies

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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