A number of food companies have taken the opportunity to highlight new product development (NPD) at the important Consumer Analyst Group of New York (CAGNY) investor conference in Boca Raton in the US. Here we round up the most eye-catching initiatives.
Tyson Foods to create product range following Tajin tie up
Tyson Foods has launched an exclusive partnership with Mexican spice brand Tajin which will result in the launch of a new portfolio of products.
Meat giant Tyson, the US’s largest food firm, said it will “leverage its protein know-how, culinary capability and brand building expertise with Tajin” through a portfolio of new products including Tajin-spiced meatballs, smoked sausage with mango and boneless chicken bites.
Tyson also revealed a range of new products it is looking to sell in the US including Jimmy Dean Egg’wiches, a line of frozen breakfast sandwiches without the bread.
It is also launching a brand called Green Street, which it said is in line with consumer demand for ready-to-eat meals. Its first foray will be protein-rich grab-and-go bowls that are 100% plant-based.
And through its Tyson Innovation Lab, which is about exploring new approaches to accelerate the pace of innovation, the company is finding opportunity in wasted food. Utilising what goes unused in the food supply chain as ingredients, it is developing a line of protein snacks branded “YAPPAH”.
PepsiCo to bring Red Rock Deli crisps to the US
PepsiCo took the opportunity at CAGNY to announce a move to launch another savoury snacks products in its home market of the US.
The food and beverage giant is to take the Red Rock Deli brand from Australia to the US.
Vivek Sankaran, president and COO of PepsiCo’s Frito-Lay North America division, said: “You can expect to see later this year a brand called Red Rock Deli. Red Rock is a brand we are importing from our Australia business.
“It’s been a big hit in Australia. It’s probably the best potato chip ever made with an amazing crunch and artisanal flavours, and it’s made in what we call a continuous kettle process, something we are bringing for the first time into the US We expect this one to be a big hit, too.”
Campbell Soup Co. announces V8 and soup product initiatives
Campbell Soup Co. CEO Denise Morrison revealed product plans to the CAGNY audience across its V8 vegetable juice and soup ranges.
She said: “With V8, we’re investing to reinvigorate the brand. We’re extending the reach of our V8 original beverages to new consumers and expanding V8 +Energy, which provides better-for-you energy through green tea.
“We’re excited about the upcoming innovation in our core soup business as we continue to meet the changing needs of consumers. Let me share with you some introductions that we’re planning. First, we’ll launch a premium broth, which we’re calling Swanson Crafted, that brings bold roasted flavours and homemade quality to the broth category. Another example of soup innovation is snackable soups, connected to the way people eat today. In June of this year, we’ll build on the success of our Well Yes! clean-label soups with five varieties of Well Yes! sipping soups that satisfy those mini-meal cravings.”
JM Smucker launches Jif Power Ups
Jam-to-coffee business JM Smucker is boosting its snacking portfolio with the launch of Jif Power Ups. Described as healthy snacks for kids, their largest ingredient is peanuts.
They will be available in five flavours of granola bar and three varieties of creamy clusters from May.
CEO Mark Smucker said the product should appeal to both parents worried about their children’s health and kids who love tasty snacks.
JM Smucker is also launching a peanut-butter coated popcorn snack under the Jif brand. Jif Poppers will be available in peanut butter, chocolate and strawberry varieties.
And the company revealed at CAGNY it will be launching a no-stir, organic version of its Santa Cruz peanut butter.
“Innovation is critical to our growth strategy and it must encompass larger product platforms which will drive growth for years to come,” Smucker said.
General Mills to launch Oui yogurt-type product in UK
Yoplait and Cheerios owner General Mills told the audience at CAGNY that it plans to launch a product in the UK similar to the Oui yogurt it markets in its domestic market.
CEO Jeff Harmening said the new product – set to be sold under the company’s Liberté brand – was an example of its strategy of taking “product ideas” from one market to other countries.
“We launched Oui yogurt in July this past year in the US. It’s now 10% of our US business. It’s the best selling yogurt in the US yogurt category for the last many years. But I also want to tell you, we’re watching something very similar to that in the UK next month.”
McCormick to expand Frank RedHot and French’s ranges
Sauces and flavourings business McCormick & Co. is expanding its Frank’s RedHot sauce brand into new product categories. New products will include refrigerated dips, seasoning blends and recipe mixes.
CEO Lawrence Kurzius told te CAGNY audience: “We’re increasing the fuel to further drive this very strong brand. Despite being number one in hot sauce, there remains significant upside for Frank’s in awareness, trial and household penetration.”
In the coming months, McCormick is launching Frank’s RedHot refrigerated dips in buffalo chicken and jalapeño popper varieties; seasoning blends in buffalo ranch and original varieties; recipe mixes including ranch dip and queso and new sauce flavours such as honey garlic and chilli lime.
McCormick also plans to extend its French’s mustards brand.
“In 2018, we’re launching honey mustard dipping sauce and stone ground Dijon mustard,” Kurzius said.
“Premium and speciality mustards are growing segments, and French’s will drive increased innovation in these areas.”