Dive Brief:
- With eyes fixed on faster growth, General Mills has gone about making a number of changes to its wide-ranging portfolio of brands and plans to continue on that path in the near future.
- At the Barclays Global Consumer Staples Conference last week, Jeff Harmening, executive vice-president and COO of General Mills' U.S. retail division, outlined four strategies for the company's growth, including”accelerati谷物销售增长ng performance in yogurt and snacks, driving double-digit growth in the natural and organic portfolio, and improving value on select brands," BakingBusiness.com reported.
- Some of the company's most recent moves include pledges to remove artificial ingredients fromcerealsandfruit snacks,divestitureofGreen Giant to B&G Foods, and the recent introduction ofnew productslike The Good Table dinner kits.
Dive Insight:
As far as the cereal industry goes, Harmening said, "First, branded manufacturers need to renovate established brands to keep them relevant with today's consumers. Second, the branded players need to bring new innovation that addresses areas of growing consumer interest, like higher protein, less processed, and gluten-free foods. And third, manufacturers need to increase consumer investment to grow cereal's share of voice versus competing breakfast categories."
General Mills has already retooledCheeriosand most recentlyLucky Charmsto be gluten-free, as well as releasing aprotein-packedversion of Cheerios and removing artificial ingredients from its cereal lines.
At the same time General Mills is trying to help its cereal portfolio regain market share, the company removed artificial colors and flavors from Yoplait,after which the brand saw double-digit growth. General Mills also is venturing deeper intoGreek yogurtand hasexplored expanding itssnacksportfolio.
General Mills is also moving to increase the value of some of its center store products, such as dry dinners, dessert mixes, and soups, to regain some of the market share the company has lost in recent years.
