‘Innovation Trends in Gourmet & Specialty Food & Drink: The marriage of health and indulgence’ provides an analysis of innovation trends in gourmet and specialty food & drink products across seven key product categories in Europe, Asia-Pacific and the US. The report provides detailed insights into the key issues facing gourmet manufacturers & the key trends driving innovation. rbcg0150
Features and benefits
- Annual growth of specialty food sales in the US between 2004 and 2005 is expected to outpace that in Europe by 0.9 percentage points.
- The value of the specialty food and drinks market in Europe and the US is forecast to grow by 5% in the years to 2009 to be worth almost $120bn
- Between 2003 and 2006, the share of new product launches in gourmet and specialty food and drink grew across all categories except bakery and cereals.
- 2 key trends are occurring in gourmet and specialty food and drink innovation: super-premium ingredients and indulgence combined with health.
- 3 key trends are occuring in innovative packaging: portability, flavor release and design aesthetics.
The democratization of premium goods has created everyday luxury and begun to erode the premium proposition requiring gourmet and specialty food and drink manufacturers to be constant innovators and driving gourmet and specialty food and drink upscale to super-premium.
For manufacturers of gourmet and specialty food and drink capturing and maintaining a premium position is critical but increasingly difficult as the mass market follows quickly to emulate premium propositions. As soon as the premium position is assailed by products which replicate the benefits the proposition is lost.
Consumers are increasingly looking to their food and drink to deliver a ‘hit’ or benefit. Rising disposable incomes and exposure to foreign foods are creating demand for gourmet, premium, ethnic and exotic products which deliver sensory benefits but gourmet and specialty foods are increasingly using health to enhance their proposition.
Your key questions answered
- What are the key innovations in gourmet and specialty food and drinks which will be significant in the next five years?
- Which companies are driving innovation in gourmet and specialty food and drinks?
- Why do manufacturers need to review the development of healthy indulgence products to keep them in line with consumer behaviour?
- How are gourmet manufacturers replicating the wellbeing benefits offered by personal care and beauty products?
- What new functional ingredients are delivering health and wellbeing within gourmet?