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Category Archives: New Product Development and Innovation

Market innovation: Whole grain trend

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According to a 2014 General Mills survey, US people eat 48% more whole grains now than in 2009. It is an impressive rise to compare with the less than 1% growth shown between 2000 and 2004. A whole grain stamp has been created and is appended on nearly 10,000 products. The whole grains movement is driving demand for ancient grains such as amaranth, buckwheat, quinoa, couscous, sorghum, teff or brown rice.

First innovation products were composed of quinoa grains. According to Innova Market Insight, global launches of new products made with quinoa rose 50% last year and among them, 38% promoted their gluten-free properties.

Bakery, breakfast cereals and snacks now account for the largest number of new product introductions composed of whole grains, with side dishes and meals gaining quickly.

whole grain trends

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Innovation in dairy product : The Greek yogurt star

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innovation in dairy productsConsumer buying behavior has changed tremendously in industrialized countries. Food industries try their best to adapt but raw material price increases, tighter regulations, higher energy and labor cost and health scandals make the challenge extremely difficult to overcome. Most food industries and new businesses focus now on entry-level products, especially in countries with high consumer debt (USA, UK, Spain, Denmark, Europe…). Some other food industries choose to turn to quality or niche products with aggressive marketing campaigns enabling them to limit the decline in sales volumes and remain profitable. For these companies, innovation is key to keep high margins. A good example is the Greek Yogurt trend, which shows a double digit growth for a few years.

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Being innovative is not only having a great idea

By | New Product Development and Innovation | No Comments

At 2014 NRA Show (THE INTERNATIONAL FOODSERVICE MARKETPLACE), in Chicago last month, I discovered many new trends and products.

To quote a few:

– Neat® offers a new 100% veggie, soy free, gluten free meat alternative

This new product is great for intolerant or allergic consumers. Most companies know they have to enter this new market, but need to do so carefully. This innovation also surfs on the vegetarian wave. Consumers are more reluctant to eat meat than before due to recent scandals, rising cost and health concerns.

– Schmacon® is delicious crispy bacon made of beef instead of pork

A growing portion of population does not eat pork based products due to religious concerns. Innovating on this niche market allows companies to gain new consumer. Companies can increase revenue by focusing on consumers' very precise needs.

– Ice beer® responds to consumer needs and wants to have a foamy fresh beer

 

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