New product development can be undertaken for a host of reasons but capitalising on major market trends, such as organic, health and wellness and convenience, has arguably become the key driver for new product development...
The fastest growing grocery brands in the UK are those that claim health benefits, with other major trends including the prolific rise of premium, indulgence and convenience products, the latest Top 100 Grocery Brands 2005 Report from ACNielsen and Checkout concludes.
Productscan, the new product development database published by analysts Datamonitor, has predicted an active year for new products in 2006, after a year of transition for many packaged goods marketers in 2005. There are some new trends to watch for.
Innovation is king – or is it? Fear of legislation or simple lack of imagination has depressed innovation in the food sector for a couple of years. Brand extensions and me-too copycats are not the same as truly innovative products that can get consumers excited. Have we really run out of good ideas for new things to eat? Hugh Westbrook investigates.