In the collective mind, soft drinks are for young and dynamic people. Major brands have always focused on the youth market -10 to 24 year olds- but the beverage industry is changing. Pioneers identify huge opportunities in targeting the growing aging population.
UK new color label has been seen on shelves for few months and is already criticized. The voluntary system means well; it will help people make healthier food choices.
The demand for gluten-free foods is booming. Some consumers are affected by celiac disease, wheat allergy or are gluten-intolerant or gluten-sensitive, but a large majority of gluten-free products consumers are in perfect health.
Even naturally gluten-free foods benefit from this new trend. Lots of manufacturers tag or label their food “gluten-free” even if it did not contain any trace of gluten originally e.g. vegetable or fish
This infographic shows some facts about gluten-free food
In food companies, products change quickly, as well as the number of competitors in the market. Innovation is important to develop and manage a coherent product portfolio that meets the ever changing consumers' trends. This enables food and beverage industries and retailers to achieve comfortable margins and benefit from a healthy growth. As time to market and finding ways of optimizing it are critical components that directly affect revenue, the ability to rapidly launch new products is a competitive advantage.
This infographic shows the advantages of reducing time to market
The following are few of the questions that professionals in the food industry or food service may ask when they do not have a PLM:
- How to create a new recipe from an existing one?
- How to generate ingredients lists in many languages?
- How to track my products (including biological and geographical origins)?
- How to be sure my labeling complies with current regulations (USDA, FDA, INCO)
- How to better adapt to new regulations?
- How to benefit from a global vision of my projects?
- How to ease collaboration with my suppliers?
- How to automatically calculate costs and risks while developing a new recipe?
- How to generate versions?
- What is the point of gathering information?
These questions are best answered by the use of a PLM.
PLM (product lifecycle management) is a key element in business success. A study has shown that an effective management tool considerably helps business to not only better manage their product portfolio but also their global strategy. Having a single data repository and using it the right way helps top performing companies to improve growth and margins.
The infographic below explains the advantages of setting up a single data repository to better manage products ranges.
Bolthouse Farms reduces delays, eliminates re-keying, and enables enterprise-wide visibility with Lascom CPG Solution
“Our goal of a single, reliable, and secure source of product information that we can all tap into has been achieved. We're very happy with the support we received from Lascom to make this project a success”
Raj Gandhi, assistant controller operations accounting at Bolthouse Farms
Innovation is a key factor in the food and beverage sector. Developing a product portfolio by surfing on new consumers' trends can enable companies to achieve improved margins and healthy growth. Quick and accurate introduction of innovative products is a competitive advantage for companies able to properly manage new product development and launch.
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.