Friel highlights changing food industry

KERRY GROUP boss Hugh Friel stressed the rapidly-changing nature of the food industry when he announced first half results in Dublin yesterday.

His comments embraced the future geographic spread of the operations, including building a strong base in China.

His comments centred on the changing nature of our lifestyles. Mr Friel made clear the drive to healthier lifestyles will see a continuing focus on an entire new range of foods. The future for a large slice of the population will be on “wellness” he said.

It will be linked to products that will have health benefits as well as basic nutritional value.

This dramatic shift in attitude envisages a whole range of products with low fat, no additive, low calorie, low cholesterol, low-carbohydrate and low sodium content.

These come into the ‘food minus’ category in the new strategic marketing taking place across the global food market where groups like Kraft and others are jostling for position.

In another key category are ‘food plus’ foods, including: added fibre, organic foods, all-natural and high protein.

Outlining how he sees the market going Mr Friel continued with the now firmly-established theme of consumers being cash rich but time poor.

Mr Friel believes the purchase of Quest from ICI adds a critical strategic string to Kerry’s considerable bow at this time. Quest has the scientific base to allow companies to stand up the medical and nutritional claims for their products.

In the years ahead he believes this will be crucial because “wellness has gone top of the agenda”. And this is where Quest, with the six new technologies it brings to Kerry, will fit like a hand in a glove in the years ahead, he said.