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Future Innovations in Food and Drinks to 2012

NPD, Trend Convergence and Emerging Growth Opportunities

Publication Date February 2007
Publisher Business Insights
Product Type Report
Pages 112
ISBN Number not applicable
Product Code RBI00197
Price

£995.00
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Summary

Innovation is the most important factor for building competitive advantage in the global food and drinks market. However, most industry executives are unsatisfied with returns on investment achieved on their new products. Although breakthrough innovation is generally perceived to be the most profitable, incremental innovation and category repositioning could prove more effective strategies.

Future Innovations in Food and Drinks to 2012: NPD, trend convergence and emerging growth opportunities is a new management report published by Business Insights based on extensive analysis of over 75,000 new product launches and an exclusive global panel survey. The report explores the key trends in the global food and drinks market, assesses the most innovative models, analyzes the most innovative products and provides actionable recommendations for increasing innovation success rates.

Create more effective new product development strategies and increase returns on investment with this new report.

This new report will enable you to...

  • Enhance the effectiveness of your innovation strategies with this report's analysis of the innovation models of leading food and drink manufacturers, including Procter & Gamble and Nestl, and actionable recommendations for choosing an innovation strategy.
  • Assess the key trends in food and drinks innovation based upon this report's analysis of Productscan data from over 75,000 product launches between 2003 and 2006 detailing regional contribution, category coverage and product claims.
  • Benchmark leading executives opinions on the future of food and drinks innovation using this report's analysis of our proprietary global survey detailing the key issues affecting the future of NPD and innovation in the food and drinks market.
  • Identify new and emerging market opportunities using this report's extensive analysis of the most innovative new product launches, trends in NPD and convergence.

Key issues examined in this report...

  • Improving return on investment. Industry surveys show that the majority of food and drink executives are dissatisfied with the return on their investment in innovation.
  • Understanding changing market trends. The increasing convergence of "health", "premium" and "convenience", combined with the emergence of "ethical" in the food and drinks market is reshaping product innovation. This report explores the direct impact of convergence on NPD.
  • Choosing the right innovation strategy. Many companies place too much emphasis on line extensions. This report explores the effectiveness of different strategies, their usage and gives concrete examples of recently launched products.
  • Leveraging external sources. The report analyzes the potential for developing partnerships with external sources, such as suppliers, research centers, universities and private individuals.

Some key findings from this report...

  • Consumer health will continue to dominate innovation. 39.1% of all products launched between 2004 and 2006 had a healthy proposition.
  • External sources of innovation may be quicker and more cost effective, in spite of this the industry relies heavily on internal sources.
  • Convergence of the health, premium, convenience and ethical trends is set to intensify with an increasing number of new products positioned in two or more trends over the next five years.
  • The premium trend will be driven by super premium and guiltless gourmet amid increasing competition from "me toos" and own label imitators.
  • Packaging is expected to play an increasingly important role, especially in nutrient/flavor preservation in spite of the dominance of formulation-led innovation.

Your questions answered...

  • What are the key industry issues affecting the future of food and drinks new product development?
  • Which factors are driving the key developments in food and drinks innovation?
  • Who are the innovation leaders and what lessons can be learned from them?
  • How are food and drink companies improving their return on investment in innovation?
  • Which innovation strategies are the most effective?
  • What regions are leading innovation in the global food and drinks market?

Content

  • Executive Summary
    • Trend convergence
    • Developments in innovation
    • Types of innovation
    • Global NPD evolution
    • Future innovation trends
    • Conclusion
  • Chapter 1 Trend convergence
  • Summary
    • Introduction
    • Increasing convergence of key market trends
    • Healthy food and drinks
    • Indulgent food and drinks
    • Convenience
    • Ethical food and drinks
  • Chapter 2 Developments in innovation
  • Summary
    • Introduction
    • NPD and building competitive advantage
    • Key drivers for future NPD
    • The innovation challenge
    • Solutions to innovation challenges - the Procter & Gamble case study
    • Re-inventing the innovation model
    • Consumer rather than R&D driven
    • A global network of external innovation partners
    • Proprietary network
    • Open network
    • Portfolio management
    • Adapting the culture
    • Illustration: Pringles Print
    • Conclusion
    • Enhancing innovation through strategic partnerships
    • Innovation partnership management at Nestl
    • Tapping into technology centers
    • The role of ingredients' suppliers
    • Partnering with media companies
    • Engaging consumers in product innovation - the net revolution
  • Chapter 3 Types of innovation
  • Summary
    • Introduction
    • The NPD cycle
    • Innovation success metrics
    • Types of innovation
    • Introduction
    • Breakthrough innovation
    • Incremental innovation
    • Category repositioning
    • Line extension
    • Importance of the types of innovation
  • Chapter 4 Global NPD evolution
  • Summary
    • Introduction
    • The evolution of NPD by product category
    • The evolution of NPD by region
    • The evolution of NPD by product tag
    • Innovation levels by product category
    • Innovation levels by region
    • Innovation levels by type
    • Innovation by formulation
    • Innovation by positioning
    • Innovation by technology
    • Innovation by packaging benefit
    • Most innovative food and drinks companies
  • Chapter 5 Future innovation trends
  • Summary
    • Introduction
    • Health
    • Wellness and wellbeing
    • Weight management
    • Energy and vitality
    • Targeted nutrition
    • Nutraceutical foods and drinks
    • Premium/gourmet
    • Guiltless gourmet (low cal/low fat gourmet)
    • Super-premium
    • Authenticity
    • Novel flavor combinations
    • Ethnic food repositioned
    • Convenience
    • On-the-go
    • Freshly prepared
    • Innovative packaging for flavor/nutrition preservation
  • Chapter 6 Conclusions
  • Summary
    • Introduction
    • The importance of innovation
    • Developing adequate innovation models
    • Key product innovation trends
    • Index
  • List of Figures
    • Figure 1.1: Convergence of the major trends
    • Figure 1.2: Organic, premium, healthy and ethical olives
    • Figure 2.3: Areas of investment important for building a competitive position over the next 5 years
    • Figure 2.4: The importance of key drivers for NPD over the next 5 years
    • Figure 2.5: Obstacles to innovation
    • Figure 2.6: Pringles Print Trivial Pursuit
    • Figure 2.7: Key future sources of product innovation for food and drinks companies over the next
    • 5 years
    • Figure 2.8: Green Mountain's fair trade PBS Blend
    • Figure 2.9: Kettle Chips' "Crave-O-Meter" consumer feedback platform
    • Figure 2.10: Consumers pick the next Danette flavor
    • Figure 3.11: Present and future NPD cycle
    • Figure 3.12: Most important metrics for measuring innovation success in food and drinks industry
    • Figure 3.13: Innovation/product attribute matrix
    • Figure 3.14: OMU yogurt drink
    • Figure 3.15: Flora Inc.'s super-premium Omega Truffles bar
    • Figure 3.16: Kellogg's cereal products' category repositioning
    • Figure 3.17: Rosenborg's Pear and Cranberry blue cheese lines
    • Figure 3.18: The types of innovation most important for food and drinks NPD today and in the
    • next 5 years
    • Figure 4.19: New product launches by category, 2004-2006 (% of overall product launches)
    • Figure 4.20: New product launches by region, 2004-2006 (% of overall product launches)
    • Figure 4.21: Percentage of food and drinks products launched in each category that were classed as
    • innovative, 2004-2006
    • Figure 4.22: Percentage of food and drinks products launched in each region that were classed as
    • innovative, 2004-2006
    • Figure 4.23: The region that will have the most innovative companies over the next 5 years
    • Figure 4.24: Innovation by type, 2004-2006 (%)
    • Figure 4.25: Danone's Danino "brain health" yogurts for kids
    • Figure 5.26: Share of products launched in each overall trend, 2004-2006
    • Figure 5.27: Most important trends for future food and drinks NPD
    • Figure 5.28: Most important health trends for future NPD
    • Figure 5.29: Nativa Yerba Mate's "wellness" herbs
    • Figure 5.30: Nutrition for the body, mind and soul
    • Figure 5.31: Enviga, the "calorie burner" sparkling green tea
    • Figure 5.32: The new FRS Antioxidant Energy Drink
    • Figure 5.33: Energy drink for teenagers from Stonyfield Farm Organic
    • Figure 5.34: Yoplait's Essence "wellness" drinkable yogurt range
    • Figure 5.35: Most important indulgent trends for future NPD
    • Figure 5.36: Whole grain bread that tastes like white bread
    • Figure 5.37: Paradise Coffee's Kopi Luwak super-premium blend
    • Figure 5.38: Caranda Teas' Organic African Gourmet Iced Blends
    • Figure 5.39: Ehrmann's sweet and sour flavored cheese desserts
    • Figure 5.40: Alcohol flavored food products
    • Figure 5.41: Giacomo "Bombay Style" Green Tea-Lime premium yoghurt drink
    • Figure 5.42: Most important convenience trends for future NPD
    • Figure 5.43: Molkerei Lanz' dual-consumption yogurt
    • Figure 5.44: Lifestream's Pie Oh My! microwaveable pies
    • Figure 5.45: Emmi Schweiz AG's Lacto Tab Q10
  • List of Tables
    • Table 4.1: Top 20 product tags on innovative products, 2004-2006
    • Table 4.2: Most innovative food and drinks companies