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Global Market Review of New Product Development Strategies in the Food and Drink Industry - Forecasts to 2013Published by: just-food Published: Nov. 30, 2007 - 85 Pages Table of ContentsPreface Report methodology The author Aims of the report Executive summary Chapter 1 Introduction to the NPD process: Drivers and regulations Introduction Supply and demand: Chicken and egg What prompts the development of a new food or drink product? Responding to regulatory changes and government campaigns The impact of the EU health and nutrition claims regulation on healthy NPD The difference between health and nutrition claims Chapter 2 NPD trends in foodservice and their influence on the retail market Introduction One size does not fit all Celebrity chefs Foodservice adopts an innovative approach Trends inspiring NPD in the global foodservice market Super-healthy Premium and speciality foods The culture of food Authentic indulgence The El Bulli influence Chapter 3 Best-practice NPD strategies Introduction Stage one: Idea generation Stage two: Filtering the good from the bad Stage three: Know your market Case study: Modernising an established brand New product launch - consumer insight case study: Magic Masala Bombay Mix Consumer insights and solutions Stage four: Check the idea with the logical crew as well as the sales and marketing division Stage five: Avoiding traffic jams in the project pipeline by creating a ‘test’ product Stage six: Checking with the consumers Stage seven: Understanding the role of retailers Sampling for success Stage eight: Convincing the retailer to stock your new product Gaining the approval of the buyer Stage nine: Identifying unique merchandising opportunities Stage ten: Ongoing evaluation of product success Chapter 4 Consumer trends driving NPD Introduction The prominent role of the foodie Ethnic food Product and line extension opportunities are rife in ethnic foods Targeting Polish and Muslim communities Free-from foods Understanding your new product’s carbon footprint Healthy indulgence Chapter 5 The next big thing by category and region Introduction Asia-Pacific Eastern Europe North America Western Europe Latin America Bakery Chilled food Confectionery Case study: Tangerine Frozen food Sweet and savoury snacks Chapter 6 The ten major NPD trends to watch Introduction Premiumisation and speciality foods Europe Facing the tide of change - anti-additives On-the-go convenience AbstractNew product development is a costly business but it is essential to the growth of the food industry. Embarking on the development of a new food brand can be time-consuming, expensive and disappointing. It can also be the best thing that has ever happened to a company/manager as it propels the business into rapid growth and profitability. Failure to innovate will result in an out-of-date brand that shrinks into the background within a highly competitive food market.The rate of NPD continues to rise year-on-year in the majority of food and drink categories, despite the significant resources required to launch a new product, and growing competition. Consumer awareness of nutrition and healthy eating has resulted in a raft of 'better for you' products in recent years. Meanwhile, healthy indulgent products are also making their mark, particularly in countries with a fast-growing functional food sector, and in regions where consumers demonstrate a growing interest in added value products. Premium products are also encouraging value sales growth and prompting investment in NPD, particularly in sectors such as chilled food and bakery. This second edition study provides further insight into best practice NPD strategies in the fast-paced global food and drink market. The report focuses on trends, drivers, innovation and marketing in major regions and primary food categories around the world, providing market forecasts to 2013. Report coverage: Identifying the other trends and developments that companies are investing in can be a great source of inspiration. Chapter two pinpoints the key NPD trends in foodservice and their influence on the retail market, including the impact of celebrity chefs, super-healthy products and authentic indulgence. NPD processes vary from company to company based on budget, resources and personal preference. Chapter 3 identifies tried and tested idea generation methods, and offers insight into best and worst practice NPD strategies. Using insights from a number of NPD experts and industry executives, we identify ten unique stages - from idea generation to evaluation of product success - with actionable recommendations to encourage efficient implementation in your company. Launching the 'next big thing' in food and drink, gaining first-mover advantage and inspiring customers to purchase your brand over those of your competitors are the primary aims of new product launches. Chapter 5 pinpoints global profit hotspots by category and region, including analysis of market growth and potential by value and volume 2003-2013 for five major food sectors: bakery and cereals, chilled food, confectionery, frozen food, and sweet and savoury snacks. Chapter 6 predicts the ten major NPD trends to watch globally over the next five years, based on primary and secondary research conducted specifically for this report. This concluding section summarises the key trends already touched upon through the report, with a detailed spotlight on the top three: anti-additives, on-the-go convenience and premiumisation and speciality foods. Get Full Details About This Report >> |
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