Top 10 Processed Food Companies | Preparation, Preservation or Modification
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Table of Contents
Processed Food Market Overview
Processed foods encompass a wide range of food items that have undergone various forms of preparation, preservation, or modification before reaching consumers. These methods include canning, freezing, dehydrating, and adding preservatives and additives. Processed foods are convenient and readily available but can vary in nutritional quality.
While some processing enhances food safety and shelf life, heavily processed items may contain high salt, sugar, and additives. It’s crucial to read food labels and opt for products with fewer additives and lower salt and sugar content when incorporating processed foods into one’s diet. Nonetheless, a diet primarily based on minimally processed, whole foods like fruits, vegetables, whole grains, and lean proteins is generally considered the healthiest choice for overall well-being.
Several key factors drive the global processed food market. Firstly, changing consumer lifestyles, characterized by busier schedules and a growing preference for convenience, have increased demand for processed and ready-to-eat food products. Additionally, urbanization and the expansion of the middle class in emerging economies have boosted the consumption of processed foods. Technological advancements in food processing techniques and packaging have improved product shelf life and quality, further contributing to market growth.
Moreover, the globalization of food supply chains has expanded the availability of various processed foods, catering to diverse tastes and preferences. Health and wellness trends have also influenced the market, developing healthier processed food options and products with cleaner labels. Lastly, food companies’ marketing and advertising strategies significantly shape consumer choices and drive market growth by promoting new products and innovations.
The global processed food market, estimated at USD 1,991.3 billion in 2022, is anticipated to grow significantly, reaching approximately USD 2,557.9 billion by 2027. This growth trajectory is projected to be driven by a compound annual growth rate (CAGR) of 5.3% in market value from 2022 to 2027.
Processed Food Market: Top Players
|Key Management||Paul Bulcke (chairman)|
|Revenue (US$ Bn)||$ 102.13 billion (2022)|
|Headcount||~ 275,000 (2022)|
Nestlé S.A. is a globally renowned multinational food and beverage conglomerate headquartered in Vevey, Switzerland. Founded in 1866, Nestlé has become one of the industry’s largest and most influential companies. The company’s diverse product portfolio spans various categories, including beverages (such as Nescafé coffee and Nesquik), dairy products (like Nestlé milk and yogurt brands), breakfast cereals (including Cheerios and Chocapic), confectionery (Kit Kat and Smarties), and even pet care items (Purina).
Beyond its extensive product range, Nestlé is recognized for its nutrition, health, and wellness commitment. The company invests heavily in research and development to create innovative, nutritious, and delicious products while emphasizing responsible sourcing, sustainability, and environmental stewardship throughout its supply chain. Nestlé’s global reach ensures that its products are available in almost every corner of the world, making it a significant player in the global food and beverage market.
Nestlé S.A. maintains a global footprint, conducting business in more than 180 countries across various regions, including Europe, the Americas, Asia, Oceania, and Africa.
- In 2022, Nestlé Health Science completed the acquisition of Puravida, a Brazilian brand focused on nutrition and lifestyle.
- In 2021, Nestlé acquired Nuun, a brand specializing in functional hydration products.
|Key Management||Ramon Laguarta (Chairman & CEO)|
|Revenue (US$ Bn)||$86.4 billion (2022)|
|Headcount||~ 315,000 (2022)|
PepsiCo, Inc. is a multinational food and beverage powerhouse headquartered in Purchase, New York. Founded in 1965 through the merger of Pepsi-Cola and Frito-Lay, PepsiCo has become one of the world’s largest and most influential companies. The company boasts a vast and diversified product portfolio that includes renowned brands such as Pepsi, Lay’s, Gatorade, Quaker Oats, Tropicana, Doritos, and numerous other snack, beverage, and food offerings. PepsiCo operates globally, with a presence in over 200 countries, and it is known for its commitment to consumer satisfaction, innovation, and sustainability.
Beyond its iconic brands, the company has expanded into healthier product categories, responding to consumer demand for better-for-you options. Additionally, PepsiCo actively promotes sustainability initiatives, emphasizing responsible sourcing, reducing environmental impact, and fostering social responsibility throughout its supply chain, making it a significant player in the food and beverage industry and in corporate social responsibility efforts worldwide.
PepsiCo, Inc. has a global presence with operations spanning multiple regions, including North America, Latin America, Europe, Asia, and Africa.
- In March 2023, PepsiCo unveiled a multi-year investment of $216 million in strategic, long-term partnership agreements with three organizations focused on farmers. This initiative aims to promote the adoption of regenerative agriculture practices throughout the United States.
- In August 2022, PepsiCo invested $550 million in Celsius Holdings, Inc. as a net cash investment, acquiring convertible preferred stock in return.
|Key Management||James Quincey (CEO)|
|Revenue (US$ Bn)||$43.0 billion (2022)|
|Headcount||~ 82,500 (2022)|
The Coca-Cola Company, headquartered in Atlanta, Georgia, is one of the world’s largest and most renowned beverage companies. Established in 1886, Coca-Cola is celebrated for its iconic portfolio of beverage brands, including Coca-Cola, Diet Coke, Fanta, Sprite, and many others. It operates globally and offers various non-alcoholic beverages, ranging from carbonated soft drinks and juices to tea, coffee, and energy drinks. Beyond its beverage products, Coca-Cola is recognized for its commitment to innovation, sustainability, and corporate social responsibility.
The company has consistently adapted to evolving consumer preferences by introducing new products and expanding into various markets. Additionally, Coca-Cola strongly emphasizes sustainability efforts, including responsible sourcing, water conservation, and recycling initiatives, making it a prominent player not only in the beverage industry but also in global sustainability and community engagement.
Coca-Cola has a worldwide reach, with operations spanning more than 200 nations globally, encompassing North America, Latin America, Europe, Asia-Pacific, and Africa.
- In June 2023, data indicates that Coca-Cola HBC, a strategic bottling partner of The Coca-Cola Company, executed a significant acquisition through its wholly-owned subsidiary, CC Beverages Holdings II BV, by adding the premium spirits brand Finlandia Vodka to its portfolio.
- In January 2022, The Coca-Cola Company disclosed acquiring the remaining ownership interest in Fairlife LLC from its collaborative partner, Select Milk Producers. As a result, Coca-Cola now possesses full ownership, having increased its previous minority stake of 42.5% to 100%. The specific financial details of this transaction were not publicly disclosed.
|Key Management||Miguel Patricio (Chairman & CEO)|
|Revenue (US$ Bn)||$26.04 billion (2021)|
|Headcount||~ 38,757 (2020)|
The Kraft Heinz Company is a prominent multinational food and beverage conglomerate headquartered in Chicago, Illinois. Formed through the merger of Kraft Foods and H.J. Heinz Company in 2015, it has established itself as one of the world’s largest and most recognized consumer packaged goods companies.
With a diverse product portfolio that includes iconic brands such as Kraft, Heinz, Oscar Mayer, and Philadelphia, among others, the company offers a wide range of food and beverage products, spanning from condiments, sauces, and dairy products to snacks, frozen foods, and infant nutrition. The Kraft Heinz Company operates globally and is committed to innovation and sustainability, responding to evolving consumer preferences while remaining a significant player in the global food industry.
The Kraft Heinz Company has a global reach, with operations extending to numerous countries worldwide, covering regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East.
- In September 2022, Kraft Heinz teamed up with agri-food tech accelerator StartLife to help meet consumer expectations across its product portfolio.
|Key Management||Dirk Van de Put (Chairman and CEO)|
|Revenue (US$ Bn)||$28.72 billion (2021)|
|Headcount||~ 79,000 (2021)|
Mondelēz International, Inc. is a renowned multinational snack and confectionery company headquartered in Deerfield, Illinois. As a global leader in the industry, Mondelēz boasts a vast and diverse portfolio of beloved brands, including Oreo, Cadbury, Toblerone, Ritz, and Trident, among others. The company operates worldwide and offers various snack products ranging from chocolates, biscuits, and candies to gum and savory snacks.
With a rich heritage and a commitment to innovation, Mondelēz consistently adapts to changing consumer preferences, emphasizing quality, taste, and responsible sourcing. Mondelēz International is a significant player in the global snacking industry, continually introducing new products and focusing on sustainability and community engagement to drive its success.
Mondelēz International, Inc. has a global footprint, operating in numerous countries worldwide, including the United States, Canada, Mexico, Brazil, the United Kingdom, France, Germany, India, China, Australia, and many others, making it a prominent presence in both established and emerging markets across the Americas, Europe, Asia, and beyond.
- In May 2023, Mondelēz International invested approximately $50 million to establish a new Global R&D Innovation Center. This center is dedicated to advancing product, process, and packaging development for beloved consumer snacks such as OREO, Ritz, and Sour Patch.
- In February 2023, Mondelēz International plans to expand its geographic footprint and unlock cost synergies, including line automation, network optimization, waste reduction, and media efficiencies, following the acquisition of Chipita.
|Key Management||Jeffrey Harmening (Chairman and CEO)|
|Revenue (US$ Bn)||$17.63 billion (2020)|
General Mills, Inc. is a well-established multinational food and beverage company headquartered in Minneapolis, Minnesota. With a history of over 150 years, General Mills has grown into a global leader in the industry. The company’s extensive product portfolio includes many beloved brands, such as Cheerios, Betty Crocker, Pillsbury, Yoplait, and Nature Valley. General Mills operates globally, offering various food products spanning cereal, baking mixes, snacks, dairy, and more.
Known for its commitment to innovation and consumer well-being, General Mills continuously adapts to changing consumer preferences, emphasizing healthier and more sustainable choices in its product offerings. Additionally, the company prioritizes sustainability and responsible sourcing, aiming to reduce its environmental impact and contribute to the communities it serves. General Mills plays a significant role in the global food industry, serving millions of consumers with quality and convenience in mind.
General Mills, Inc. operates globally in numerous countries and regions, including North America, Europe, Latin America, Asia-Pacific, and Africa.
- In July 2023, General Mills invested approximately $50 million to establish a new Global R&D Innovation Center. This center is dedicated to advancing product, process, and packaging development for popular consumer snacks, including OREO, Ritz, and Sour Patch.
- In February 2022, General Mills adopted an ongoing acquisition strategy, part of its accelerated strategy, to achieve 2-3% annual organic net sales growth. They seek accretive acquisitions in core markets, focusing on growth areas where their capabilities can create value.
|Key Management||Steven Cahillane (Chairman & CEO)|
|Revenue (US$ Bn)||$13.547 billion (2018)|
|Headcount||~ 34,000 (2018)|
Kellogg’s, founded by Will Keith Kellogg in 1906, is a prominent multinational food company headquartered in Battle Creek, Michigan. With a rich heritage of over a century, Kellogg’s is known for its iconic breakfast cereal brands such as Kellogg’s Corn Flakes, Rice Krispies, and Special K. The company has expanded its product portfolio to include a wide range of snacks, frozen foods, and convenience foods.
Operating globally, Kellogg’s offers diverse food products catering to various consumer preferences. Committed to innovation and addressing changing dietary trends, Kellogg’s provides healthier options while focusing on sustainability. With a strong emphasis on nutrition and wellness, Kellogg’s continues to be a significant player in the global food industry, offering convenient and nutritious choices to consumers worldwide.
Kellogg’s is a global company conducting operations in numerous countries worldwide, including the United States, Canada, the United Kingdom, Australia, India, and others. The company maintains a global footprint across multiple regions, including North America, Europe, Latin America, Asia-Pacific, and the Middle East.
- In October 2023, Kellogg’s Churros, introduced in the markets of Mexico and Colombia, pay homage to Latin America’s rich artisanal baking traditions. These delectable fried pastry treats come in various variants, including plain and sugar or cinnamon-sugar-coated options. They are traditionally enjoyed during breakfast, often with hot chocolate or coffee.
- In 2019, the Ferrero Group completed the acquisition of Kellogg’s cookie businesses.
|Key Management||Antoine Bernard de Saint-Affrique (CEO)|
|Revenue (US$ Bn)||$28.4 billion (2019)|
|Headcount||~ 102,449 (2019)|
Danone S.A. is a leading multinational food company headquartered in Paris, France, with a history that dates back to 1919. As one of the world’s foremost dairy and nutrition companies, Danone is renowned for its diverse product portfolio, including dairy products, plant-based alternatives, specialized nutrition, and bottled water brands like Danone, Activia, Alpro, and Evian.
The company operates globally and is committed to promoting health through its products, emphasizing innovation and sustainability. With a strong focus on fostering healthier eating habits and sustainable practices, Danone remains a significant player in the global food and beverage industry, providing consumers with nutritious and environmentally responsible choices worldwide.
Danone S.A. has a global presence, with operations in numerous countries worldwide, including France, the United States, China, Russia, and many others.
- In September 2023, Danone established three fresh partnerships and a joint business development strategy with Chr. Hansen, a bioscience company. This collaborative initiative is set to facilitate Danone’s pursuit of groundbreaking innovation in the dairy and plant-based sectors, harnessing Chr. Hansen’s cutting-edge bio-solutions expertise and drawing upon the extensive culture collections of both companies.
- In February 2021, Danone expanded its plant-based portfolio by acquiring Follow Your Heart, a pioneering company in the plant-based food sector. This acquisition complements Danone’s plant-based brands, including Silk and So Delicious.
|Key Management||Hein Schumacher (CEO)|
|Revenue (US$ Bn)||€60.073 billion (2022)|
Unilever plc is a renowned multinational consumer goods company with a global presence, headquartered in London, United Kingdom. Established in 1929, the company has evolved into one of the world’s largest and most diverse producers of consumer products. Unilever’s extensive portfolio includes a wide range of well-known brands spanning various categories, such as food and beverages (including brands like Knorr and Lipton), home and personal care (Dove, Axe, and Persil), and skincare (Vaseline and Simple), among many others.
Operating in numerous countries and regions across the globe, Unilever is committed to sustainability and corporate social responsibility, aiming to reduce its environmental footprint and improve the well-being of communities through various initiatives. With a focus on innovation and consumer well-being, Unilever continues to be a significant player in the global consumer goods industry, offering products that cater to a wide range of consumer needs and preferences.
Unilever plc has a significant worldwide presence, with operations spanning numerous countries and regions, including North America, Europe, Latin America, Asia-Pacific, Africa, and the Middle East. This encompasses key markets such as the United Kingdom, the United States, India, Brazil, and China.
- In August 2023, Unilever confirmed the completion of its acquisition of Yasso, a high-quality frozen Greek yogurt brand in the United States, as previously announced on June 14th.
- In May 2022, Unilever is set to secure a controlling interest in Nutrafol through an acquisition.
|Key Management||Michele Buck (Chairman, President and CEO)|
|Revenue (US$ Bn)||$8.97 billion (2021)|
|Headcount||~ 16,620 (2021)|
The Hershey Company, headquartered in Hershey, Pennsylvania, has been a renowned multinational confectionery and snack food company since 1894. As one of the largest and most recognizable players in the industry, Hershey is known for its diverse product portfolio, which includes iconic brands such as Hershey’s, Reese’s, Kit Kat, and Twizzlers, among many others.
This Processed Food company operates globally and offers a wide range of chocolate, candy, and snack products. Hershey is committed to innovation and has adapted to evolving consumer preferences, offering a mix of classic favorites and new treats. Beyond its product offerings, Hershey actively promotes responsible sourcing, sustainability, and community engagement, making it a significant player in the confectionery industry and corporate social responsibility efforts worldwide.
The Hershey Company has a worldwide presence, conducting operations in numerous countries across the globe. This encompasses key regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East, including significant markets like the United States, Canada, Mexico, Brazil, the United Kingdom, China, India, and others.
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He has been helping in business of varied scales, with key strategic decisions. He is a specialist in healthcare, medical devices, and life-science, and has accurately predicted the trends in the market. Anurag is a fervent traveller, and is passionate in exploring untouched places and locations. In his free time, he loves to introspect and plan ahead.
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