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Future Innovations in Food and Drinks to 2006: Forward-focused NPD and consumer trends
Business Insights, Sep 2004, Pages: 116
It is well documented that more than 90% of all new product development (NPD) in the food and beverages industry fails – some claim the figure is in fact closer to 98%, a sobering thought if ever there was one. But the 2% that is successful accounts for billions of pounds, dollars, yen and Euros worth of business everyday, which begs the question: Is the risk a worthy one? The aim of this report is to demystify some of the techniques behind successful NPD and innovation. It pulls together research into consumer trends from around the world and interprets those trends as opportunities for food and drinks companies to convert into successful NPD. Discover what will be the next ‘big thing’ in food and drink and examine winning formulas for NPD with this new strategic management report.
This new report will provide you with:
- Key world trends to 2006 driving NPD and flavours that could be the next ‘big thing’ for food and drink manufacturers and retailers such as exotic flavours and herbs.
- Best practice case-studies revealing the USPs of products launched this year from food and drink companies such as: Qibla Cola, Bowland Fresh Milk, Vitsmart, Tiger White and Magnum 7 Deadly Sins.
- Results from a survey of over 4000 executives in the global food and drink industry revealing the most import drivers, sources of inspiration and most profitable consumer groups for implementing successful NPD strategies in food and drink.
- Actionable strategies based on the top 13 future innovation trends in food and drink
Benefit from expert insight and analysis, enabling you to:
- Increase the success rate of your NPD strategies by incorporating the changing needs of your consumers into your strategies such as ‘demand for greater moral and social responsibility’.
- Maximise your product sales by profiting from new concepts such as ‘masstige’ and learn why hot issues such as ‘functional food becoming more scientific’ and ‘media fragmentation’ should be taken seriously over the next two years.
- Forecast the future with confidence with industry opinion from key executives operating in the UK, US, South America, Europe and Asia-Pacific from leading food and drink companies such as Unilever, Arla Foods, Interbrew and Heinz.
- Discover how innovation is taking shape for your food or drink product by identifying the biggest global trends and break throughs in NPD.
The answers to your questions...
- What are the main consumer trends in the global food and drink market and how are brands meeting these challenges?
- Is there a right or wrong way to approach NPD in food and drink, if so how can you implement or avoid these strategies?
- Which countries have the most innovative NPD strategies in food and drink and what are they?
- What food and drink products will be appearing on our shelves in the next two years?
- How are mature food and drink categories coping with the pace of change and what are the protection strategies in place?
Key findings from the report...
- Fresh Fruit and exotic and surprising flavour combinations will play a significant role in NPD of the future and functional foods will grow in importance.
- The Future Innovations in Food and Drink to 2006 Industry Opinion Survey found that 100% of respondents believe that consumer tastes and preferences are vital to successful NPD
- Manufacturers and retailers must be aware of the growing ethical movement amongst consumers who are demanding greater moral and social responsibility for corporate business.
- Consumers want to be spoken to by brands on an individual level. They expect NPD to cater for their direct needs.
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