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Global Market Review of New Product Development Strategies in the Food and Drink Industry - Forecasts to 2012Published by: just-food Published: Apr. 30, 2006 - 88 Pages Table of Contents
Introduction Chapter 1 - Supply and demand - what comes first? Retailers inject innovation and interest into the food and drink industry Responding to regulation changes and government campaigns Smaller, independent companies versus large multinationals Chapter 2 - Getting to grips with a best-practice NPD process Stage one: Idea generation Innovation workshops Actionable recommendations to establish innovation workshops in your company Creating a 'flash of inspiration' in the office environment Supermarket Sweep Stage two: Filtering the good from the bad Stage three: Consumer insight Consumer research techniques implemented at stage three Case study: Kettle Foods in the US - asking the consumer Best-practice consumer research techniques New product launch - consumer insight case study: My Dolmio Product background Consumer insights and solutions Consumer research Stage four: Getting the whole team on board Stage five: Putting the theory into practice Stage six: Checking with the consumers Stage seven: Product launch and promotion Point of sale Identifying unique promotional opportunities Stage eight: Evaluation of product success NPD hyperventilation Chapter 3 - The most important NPD strategy - consumer insight Ethnic food Insight & analysis: the US Hispanic foods market Insight & analysis: the European ethnic foods market Emerging trends in European and US ethnic food sectors The next big thing in ethnic food Organic NPD highlights Organic NPD opportunities by category Retailers responding to consumer demands for more organic products - at realistic prices Company case study: RDA Organic Ethical and fairtrade Buying local Glycemic Index - whole foods NPD opportunities The next big diet… from Australia Healthy indulgence NPD opportunities Real food for real kids More, more, more NPD targeting the 'more, more, more' trend Superfoods Focus on açai - the fruit from the Brazilian rainforest Über convenience NPD highlights Regional trends in convenience Chapter 4 - NPD trends in Asia and North America North America NPD inspiration from the melting pot culture Goya Foods: leading Hispanic food company Asia-Pacific Emerging NPD opportunities More, more, more…vitamins and minerals Organic food in demand for its health benefits Chilled food increasing its appeal: fresh, healthy, convenient Focus on China Chapter 5 - Improving your chances of success The best and worst performers in 2005 Best performers by category Worst performers by category Healthy products driving value growth in the top product categories Kit Kat revamp in response to decline in sales Mr Kipling wakes up to the potential of the healthy indulgence trend Frozen continues to suffer from negative image in the UK Exceptional star performers The three underperformers Ten NPD 'strategies' to avoid Best-practice strategies Jump on prime marketing opportunities Provide a solution to a problem Top eight strategies to improve your chances of success Chapter 6 - The next big thing NPD opportunities to 2012 Confectionery Dairy Drinks Chilled and frozen food Packaged food Conclusions: the nine NPD trends to 2012 List of tables Table 1: Matching promotional opportunities with your product's consumer insights and proposition Table 2: Ethnic packaged food market value, 2000 to 2012 Table 3: The top ten destinations for travel from the UK, 2004-2005 Table 4: Travel and tourism demand, 2007-2016 (% annualised real growth) Table 5: Recent organic NPD highlights Table 6: Organic food market value sales, 2005 to 2012, US$bn Table 7: Global average versus US consumers' propensity to purchase organic food, percentage of 21,100 respondents surveyed in 38 markets worldwide Table 8: Recent fairtrade and ethical NPD highlights Table 9: Global fairtrade market value 2005 to 2012, US$bn Table 10: Recent wholefood NPD highlights Table 11: Recent healthy indulgence NPD highlights Table 12: Recent children's NPD highlights Table 13: Leading superfoods for future NPD Table 14: Recent uber convenience NPD highlights Table 15: Ready meals market value by major country, 2004 to 2012, US$m Table 16: Asian organic food market value, 2004 to 2012, US$bn Table 17: Asia Pacific pre-prepared/pre-packaged chilled foods market value, 2004 to 2012, US$bn Table 18: China population demographics, 2000 to 2015, % of total population Table 19: China household composition, 2000 to 2015, % of total population Table 20: Obesity levels in China, 2000 to 2003, % of total population Table 21: Top 30 new product star performers, value growth 2004 to 2005 compared to 2005 value, UK Table 22: Decline in market value of 30 previously high-performing new product launches, value growth 2004 to 2005 compared to 2005 value, UK List of figures Figure 1: Firefly's premium range of mood enhancing soft drinks Figure 2: Dolmio's pouch packs combine convenience and tweenage appeal Figure 3: Mr. Kipling's Delightful, healthy indulgence range Figure 4: New product star performers, value growth 2004 to 2005 compared to 2005 value Figure 5: Decline in market value of 30 previously high-performing new product launches, value growth 2004 to 2005 compared to 2005 value, UK Figure 6: NPD potential of the nine just-food trends to 2012 AbstractThis industry report assesses the reasons behind the high failure rate of new products with insights from industry executives, NPD specialists and branding/marketing specialists. It considers realistic NPD strategies and provides actionable recommendations that can be immediately integrated into your NPD process. Use this report to understand the essential elements in a successful product development procedure. Ultimately, it will help you define and refine your corporate strategy in terms of new product development.This is not just another report telling you that around 90% of new products fail within the first six months of launch. Everyone is now well aware of the various failure rates that are bandied around in conferences and boardrooms. It will not just highlight the good, the bad and the ugly of new product launches in the food and drink industry (although it addresses these in light of best and worst practice scenarios). It provides realistic NPD strategies through to 2012. Executive summary Introduction Chapter 1 Supply and demand - what comes first? What comes first in NPD? Does the industry instigate new trends, such as the whole food revolution, or do the consumers lead it? Are manufacturers and retailers supplying new products to consumers to meet a general rather than a specific need, or are consumers demanding - and getting just what they asked for? This chapter assesses how retailers inject innovation and interest into the food and drink industry, and how they are responding to regulation changes and government campaigns. It also considers smaller, independent companies versus large multinationals. Are smaller, independent companies more proficient at meeting consumer demands than the larger multinationals? Chapter 2 Getting to grips with a best-practice NPD process This chapter identifies tried and tested idea generation methods, and offers insight into best and worst practice. The aim of this chapter is to inspire you to make that big bang in the industry. Following insight from a number of NPD experts and industry executives the chapter is segmented into eight unique stages with actionable recommendations to encourage implementation in your company. Stage one: Idea generation Stage two: Filtering the good from the bad Stage three: Consumer insight Case study: Kettle Foods in the US - asking the consumer Stage four: Getting the whole team on board Stage five: Putting the theory into practice Stage six: Checking with the consumers Stage seven: Product launch and promotion Stage eight: Evaluation of product success Chapter 3 The most important NPD strategy - consumer insight The industry cannot and should not ignore consumer trends - whether they appear to be fads or not. Value and volume sales growth to 2012 will depend on the success of new product launches. just-food has selected nine top consumer trends that are expected to influence NPD in the global food and drinks market to 2012. This chapter will answer the following questions: What are the top consumer trends in the global food market that are anticipated to influence NPD to 2012? Which markets should we target in particular? How important will the three megatrends of health, convenience and indulgence be by 2012? Chapter 4 NPD trends in Asia and North America One-size does not fit all in the case of food and drink around the world. There are clear regional variations in terms of consumers' perceptions of food, eating habits and purchase influencers. A new product launched for the Asian market typically needs tweaking before expansion into Europe or the United States. This chapter analyses key emerging NPD opportunities specific to the Asia-Pacific and North American regions such as the influence of immigration and ethnic cuisines, health, organic food, and the importance of trust in the Chinese food industry. Chapter 5 Improving your chances of success This chapter assesses successful strategies and disasters. It offers insight into the next generation of product development, branding and marketing techniques, and aims to improve your chance of success. It highlights the best and worst performers in 2005 and provides ten NPD 'strategies' to avoid and eight top strategies to improve your chances of success Chapter 6 The next big thing More and more new products are launched every year. Launching the 'next big thing' in food and drink is the ultimate goal of all NPD departments. The opportunities are endless; the difficult part is matching a niche to your company's skills and expertise, and following a best-practice NPD process to improve your chances of success in this hugely competitive environment. The final chapter highlights NPD opportunities to 2012 covering: Confectionery, dairy, drinks, chilled and frozen food and packaged food and gives conclusions with nine NPD trends to 2012. 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