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An analysis and comparison of successful companies within the novel food industry and their use of success models
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School of Business |
Bachelor's thesis
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en
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41
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Abstract
Objectives
The main objective of this study was to explore what factors contribute to the success of novel food companies. In addition, the study investigated whether there were substantial similarities and differences between the success factors of the three companies being looked at : Oatly, Beyond Meat and Impossible Foods. Finally, to ensure the relevance of the research for the long term too, the last objective was to investigate what food ingredients and products are likely to be popular in the future. This information would help provide guidance as to what areas are worth investing in, to increase the likelihood of future success and market dominance.
Summary
The study interviewed five individuals with different backgrounds and relations to the food industry and/or Oatly products. To support the interviewee responses as well as provide more extensive information, secondary resources were also used. The aim of this was to provide a comprehensive overview of what made the three chosen companies successful and why.
Conclusions
Based on the research collected, the main novel food company success components fall into five main categories : corporate social responsibility, awareness, customer, development and other, with ‘other’ indicating the potential existence of other success factors not researched within this study. These components were merged into one simple model, with subcomponents for each category included, to make the model more comprehensive. Lastly, the most likely future trend is a shift towards sustainable plant derived protein sources