Danone CEO: Millennial parents are 'agents of change' that are forcing massive shifts at the $48 billion company
- The world is undergoing a "food revolution," according to Emmanuel Faber, the CEO of $48 billion food company Danone.
- "Millennials are changing the way everyone eats and drinks," Faber told Business Insider.
- As millennials grow up and have children of their own, they have a new set of concerns centered on what their kids are eating and drinking.
Millennials have created massive shifts in countless industries.
Beards are in, hurting razor makers. Golf is out, worrying equipment manufacturers. And, sugar is public enemy number one, resulting in some massive shift in the food industry.
It's part of a change that Emmanuel Faber, CEO of the massive food company Danone, calls the "food revolution."
"These millennials are changing the way everyone eats and drinks," Faber told Business Insider in a recent interview.
With Faber at the helm, Danone - which has a market cap of $47.7 billion - hopes to cash in on the revolution instead of being left in the dust.
"They're turning away from the older brands that the previous generation, their parents, thought were there for granted, and they're reconsidering completely their options," Faber said.
Much of the media coverage of millennials has focused on the generation's youth, pointing to their indifference towards marriage and buying homes as evidence that many aren't ready to grow up. Now, however, as the eldest millennials are solidly in their mid-30s, they're having children of their own. And, that means new industries are being impacted by the generation's whims, and new generations are being shaped by the millennial mindset.
"We ... see parents becoming agents of change," Faber said. "When you are a millennial and you have a child, you reconsider how you feed your family."
The predominant trends are both culinary, such as a preference for higher-protein and lower-sugar options, as well as ethical, like a growing emphasis on sustainability and a desire for clarity in food production. Now that millennials are having children of their own, new industries are being hit by these demands.
The baby-food business, for example, is undergoing a seismic shift as more millennials have kids.
Instead of embracing the convenience of preservative-packed jars of baby food, millennial parents are seeking out options with fewer ingredients and more information on sourcing. Danone recently overhauled two of its baby-food brands, which make up a massive part of its business, to emphasize their use of natural ingredients.
Watch Business Insider's full conversation with Faber here: