L0008 New Product Concepts in Cereals
The objective of this project was to provide some new product concepts. The company presently manufacturers a variety of bread and cereal-based consumer products. Although the market for breads and cereals is relatively conservative, compared for example, to beverages or dairy desserts, a number of trends are affecting consumer preferences at present.
New product concepts and indications of trends can be obtained in part by looking at what others are making and selling. This study did this by surveying some of the products presently in supermarkets in seven sites in the US and one site in the UK. Products included in the survey included breakfast dry and cooked cereals, breads, pasta etc. Prices and ingredients were obtained. Survey staff were asked to look for new products. The survey form, the statistical results and some conclusions are provided in the report. Where novel products were found, product literature was obtained.
Three exhibitions were visited to find out about new products to be launched onto the market. The Food and Drink Expo was a mainstream exhibition with some product launches, but mostly current product ranges on show. The Food and Bake Expo was similar. The Natural and Organic Products Conference showed mostly organic products and the overall breadth of exhibitors and products demonstrated how widespread organic products had become. There were many organic cereal products on show and a selection of the most promising products available currently around Europe has been listed. In addition, enquiries were made to product development staff within other companies. Several other opportunities were identified during the course of this study.
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