With little to risk and a lot to gain, PepsiCo is the latest CPG company to get into the incubator game. Already, many of its peers in the food space, including Kraft Heinz, Kellogg, Campbell Soup, Nestlé and Conagra have already undertaken similar initiatives.
PepsiCo's decision to enter the incubator space signals that small, nimble food startups have made inroads into interesting, unique and healthy products that food and beverage companies need more of in the face of growing competition and slumping sales. Statistically, this trend is backed by data showing that the share of retail sales held by the top 25 food manufacturers in U.S. food and beverages declined from 66% in 2012 to 63% in 2015, according to a study from A.T. Kearney and The Hartman Group.
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