The Rise of the foodie Consumer and the Effect on NPD
By 2013, 70% of UK consumers will class themselves as foodies according to research undertaken by food industry website just-food.com. This estimation will allow huge scope for food manufacturers and retailers in terms of new product development (NPD).
Bromsgrove, UK (PRWEB) November 22, 2007 -- By 2013, 70% of UK consumers will class themselves as foodies according to research undertaken by food industry website just-food.com (www.just-food.com). This estimation will allow huge scope for food manufacturers and retailers in terms of new product development (NPD).
The increasingly recognised consumer group/target market known as 'foodies' typically have a passionate interest in food, drink, cooking, eating out and food issues. Characteristically they like to try new products, visit different types of bars and restaurants, enjoy reading about food, regularly purchase recipe books and watch the growing number of food-related television programmes.
Foodies are also keen to jump on the latest food-fad bandwagon, in a survey undertaken by Heinz Salad Cream, following food fads costs UK consumers GBP11.2bn (US$20.9bn) each year.
The prominent role of the foodie within the global food industry is having an impact on NPD, there are rising numbers of foodie consumers buying high-quality and premium products to impress friends and family and as a well earned treat for themselves. This is creating a premium market with huge NPD potential.
Many organisations claim to conduct consumer research and apply consumer insight techniques to their product development process; however, high failure rate implies otherwise. Specialist in New Product Development's Dolby told just-food: "NPD is an instinct with science to back it up. People who produce food are not usually marketers and vice versa. If you've got a lot of money to throw at NPD or you're a high-risk taker then you could well make a killing. However, if you're a small start-up company then it's unlikely you'll have the huge resources required to make your new product work overnight."
Within the second edition of 'Global Market Review of new product development strategies in the food and drink industry - forecasts to 2013' just-food introduce the NPD process including the drivers and regulations, key trends within the consumer and foodservice markets, an exploration into the importance of NPD strategy along with the 'next big thing' in food and drink. just-food also predict the ten major NPD trends to watch over the next five years, based on primary and secondary research undertaken specifically for this report.
The full just-food report 'Global Market Review of new product development strategies in the food and drink industry - forecasts to 2013' is available to purchase from just-food's online research store at http://www.just-food.com/npd2008
About just-food
Since 1999, www.just-food.com has developed into the leading and most respected growing food industry trade sites globally. The site's unique news and research content is produced and sourced via a dedicated editorial team, worldwide network of correspondents and content partnerships. In addition, the http://www.just-food.com research store provides instant access to over 4,000 market research reports.
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