Future of Hormel Foods
CATEGORIES
- Asset Performance
- Innovation assets and pipeline
- Disruption vulnerability
- Company headlines
- Company’s future prospects
DATA ACCESS
Hormel Foods Corporation is a US food company based in Austin, Minnesota. It was established in Austin by George A. Hormel in 1891 as George A. Hormel & Company. It changed its name to Hormel Foods in 1993. Hormel sells food under many brands, including Chi-Chi's, Farmer John, Jennie-O, Lloyd's, Skippy, La Victoria and Wholly Guacamole brands, the Applegate, Dinty Moore, Herdez, Justin's, Muscle Milk, Spam, Stagg, as well as under its own name.
Innovation assets and Pipeline
All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page.
DISRUPTION VULNERABILITY
Belonging to the food, beverages and tobacco sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:
*First off, by 2050, the world’s population will balloon far past nine billion people; feeding that many people will keep the food and beverage industry growing into the foreseeable future. However, providing the food necessary to feed that many people is beyond the world’s current capacity, especially if all nine billion demand a Western-style diet.
*Meanwhile, climate change will continue to push global temperatures upward, eventually far beyond the optimal growing temperatures/climate of the world’s staple plants, like wheat and rice—a scenario that can endanger the food security of billions.
*As a result of the two factors above, this sector will collaborate with the top names in agribusiness to create novel GMO plants and animals that grow faster, are climate resistant, are more nutritious, and can ultimately produce far greater yields.
*By the late 2020s, venture capital will begin investing heavily in vertical and underground farms (and aquaculture fisheries) that are located close to urban centers. These projects will be the future of ‘buying local' and have the potential to significantly increase the food supply to support the world's future population.
*The early 2030s will see the in-vitro meat industry mature, particularly when they can grow lab-grown meat at a price less than naturally raised meat. The resulting product will eventually be cheaper to produce, far less energy intensive and damaging to the environment, and will produce significantly safer and more nutritious meats/protein.
*The early 2030s will also see food substitutes/alternatives become a booming industry. This will include a larger and cheaper range plant-based meat substitutes, algae-based food, soylent-type, drinkable meal replacements, and high protein, insect-based foods.