Larry Hand Protein Technologies

Resources Reviewed

Factsheets

New Product Guidelines

Publish Date: 06/03/2006

Overwhelmingly, most industry executives will agree that new product development is the key to economic viability and survival. A review of new product introductions during the past decade gives credence to the fact that everyone is searching to meet consumer demand through product innovation. Last year alone, over 25,000 new products were introduced to the marketplace according to industry sources. These products target a wide variety, but growing number of consumer groups, each looking to fill a niche. Recently, new product introductions have been focused on satisfying consumer demands for improved nutritional content, ease of preparation, eat-on-the-go, taste, health benefits, etc. Two of the hottest trends today target ethnic cuisines and functional foods or nutraceuticals. These two broad areas of potential pursue two vastly different demands; one aimed at taste and the other at health. The influx into the United States of immigrants from all over the world has lead to a melting of various distinct flavors and preparation methods. Not only are these foods demanded by ethnic groups, but their acceptance by adventurous eaters have led to the development of a major market for Latin, Asian, European, and many other cuisines. In addition, the development and demand for functional foods that meet a specific purpose, health or otherwise, is continuing to grow at a rapid pace.


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