Food & Beverages

Identifying the next new and novel ingredient trends to shape new product development in the Food and Soft Drinks industries

  • CAN167509
  • 79 Pages
  • January 2015
  • Food & Beverages
Summary
Identifying the next new and novel ingredients to shape new product development in the Food and Soft Drinks industries helps suppliers and ingredients manufacturers identify the key trends that will determine ingredient demand over the next five years. This will help determine which areas research and development investment should focus on, and helps suppliers proactively approach new clients to help them identify gaps in the market.

From ingredients manufacturers to retailers, it is important to realize the relevant consumer trends and exactly what it is that is motivating consumption. Grouping current influences in the ingredients market into seven 'hot trends' summarizes the immediate and evolving demandsof different consumer groups. Ingredients and end product examples highlight the importance of each trend, as does an estimation of the trend's worth in the global market.

Key Findings
- As consumers become increasingly busy, they are seeking convenient ways to eat healthier. As such the demand for 'magic-bullet' health solutions, and products enriched with health-enhancing ingredients, is steadily increasing. Similarly, the busiest consumers are seeking the most convenient food and beverage options the market has to offer. The lowest preparation and cooking times possible - the better for these consumers.
- There are many opportunities to target consumers with experimental and novel food and drinks. Millennials have been dubbed the generation of restless palettes, many are always seeking the next new and exciting flavor. Faced with a wide array of choice, these consumers look to further push the boundaries with new tastes and experiences from international cuisines. Furthermore, many consumers are seeking new and novel experiences to accompany their consumption, such as a nostalgic connection or unusual flavor.
- Modern media has paid much attention to popular ingredients that are deemed 'bad for you', which presents food, beverages and ingredients manufacturers with the opportunity of providing a sufficient alternative.
- There are many opportunities for new energizing and relaxing ingredients. Consumers are increasingly reliant on FMCG products to get them through the day. Both energizing and relaxing products are growing in popularity with consumers seeking the most effective natural and chemical ingredients.

Synopsis
Consumer need stakes are continually evolving, in terms of what they want, when they want it, and in what form they want it. Identifying the next new and novel ingredients to shape new product development in the Food and Soft Drinks industriesfocuses on how current trends are influencing the formulations and specific ingredients that are in demand from consumers, following the following structure:
- An introduction to seven key trends that indicate the current ingredients related demands of consumers
- Identification of exactly how the trends are manifesting in the market and what is already being done to target the trend
- Quantification of how important each trend is globally
- Identification of key consumer groups for each trend, including key age groups, gender, wealth group, and leisure time group
- Best practice product examples for each trend
- Analysis of how the trend will develop in future

ReasonsToBuy
This report offers companies at every stage in the manufacturing process detailed insight into the current, and evolving ingredients demands of consumers. Food and ingredients manufacturers will benefit from a structured and in-depth report, covering seven key trends that are influencing the formulation demands of consumers.

Irrespective of industry, size of brand, heritage, or market share, it is crucial that all brands keep ahead of consumer trends in ingredients. This report marries theory with practice, providing both a comprehensive conceptual understanding of consumer behaviors, and recommended actions and product examples to show how these trends should be targeted.
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