When discussing predictions about the future of any market, it is always wise to also ponder the present. Joe Derochowski, director of business development for NPD Foodworld, offered a look at the past, present and future in “Eating Patterns in America.” One important lesson to learn, said Derochowski, is the relative weight to give trends in the market when making decisions.
The FDA certainly knows how to make an impression. Less than a year after the agency dictated trans fat levels appear on product packaging, grocery aisles are full of products proudly proclaiming 0g of trans fat. What impact is the label expected to have? Within three years, FDA estimates, the food labels alone could prevent 600 to 1,200 cases of heart disease and as many as 500 deaths a year.
Responding to foodservice consumers' demands for a wider selection of natural items, Hormel Foods implemented a new technology to present a natural line of sliced meats and, in the process, displayed the teamwork and innovativeness that were key to its 2006 Spirit of Innovation Award—Foodservice.
Soft drinks may not be compared to fine wine very often, but there is a move to offer soft drink suggestions for specific menu items. Soft drink manufacturers should hope the move is a success, since their offerings are now out of most school systems and boast a variety of beverages aimed at improving the health of young people. Those consumers, however, seem more motivated by the modern coffee shop, and that may well bode ill for this portion of the segment.
After a strong showing in the 2005 Spirit of Innovation Awards, FGF Brands returned in 2006, determined to make its mark and depending upon strong, knowledgeable teams to refine a formulation, scale up and commercialize a product that would require an entirely innovative manufacturing process.
Foods with functional benefits have emerged as a key market for manufacturers in recent years, as time-struggling yet health-conscious consumers seek a quick, convenient means to maintain their overall health. Functional foods would seem to fit the bill perfectly; however, manufacturers be warned: consumers may not embrace claim-touting new products.