Reasons for Developing Food Products
Consumers often become bored with products and are quickly distracted by new products. For a company that continues to market 'the same old thing' this distraction could mean the loss of profits as consumers spend their money elsewhere.
Companies devote large quantities budgets to developing new products in order to stay competitive, and satisfy consumer demand.
Changes in the law can force food companies to alter their products. Sometimes the changes required may be relatively minor, such as a labelling requirement (for example declarations that the product may contain traces of nuts), but sometimes food companies can be required to alter the content of a product, for example to remove certain additives from certain foods.
Market Concerns
It is said that consumers today are better informed about their health and nutrition than ever before. With this clearly in mind, food companies develop food products that target this awareness. Companies promote foods that are modified versions of their regular product lines, for example for example foods for which the recipe has been altered to make them low in fat, salt-reduced or high in fibre.
Technological Developments
Technological developments affect food product development. For example, the high level of microwave ownership resulted in the development of specifically microwavable products. As microwave technology developed, so did the products. For example, as microwave ovens have become more powerful, products, packaging and cooking times have changed accordingly. The resurgence of slow cookers and popularity of espresso coffee makers for the home have created a market for manufacturers of speciality recipe bases and boutique-style ground coffee.
Increasing company success
A great deal of money is invested in product development. Companies can be hesitant to invest huge amounts of money in developing a new product because of the risk of financial loss if it is not successful
Innovative Products
Innovative products are the result of completely new ideas.
Line Enhancements
Copy Cat Products
Consumer Demand
Product Tampering
Special Applications
(Defence force ration packs, Camping supplies, space foods, airline foods, medical foods)
Target market changes
Ageing
Reduced size household
Multicultural
Companies devote large quantities budgets to developing new products in order to stay competitive, and satisfy consumer demand.
Changes in the law can force food companies to alter their products. Sometimes the changes required may be relatively minor, such as a labelling requirement (for example declarations that the product may contain traces of nuts), but sometimes food companies can be required to alter the content of a product, for example to remove certain additives from certain foods.
Market Concerns
It is said that consumers today are better informed about their health and nutrition than ever before. With this clearly in mind, food companies develop food products that target this awareness. Companies promote foods that are modified versions of their regular product lines, for example for example foods for which the recipe has been altered to make them low in fat, salt-reduced or high in fibre.
Technological Developments
Technological developments affect food product development. For example, the high level of microwave ownership resulted in the development of specifically microwavable products. As microwave technology developed, so did the products. For example, as microwave ovens have become more powerful, products, packaging and cooking times have changed accordingly. The resurgence of slow cookers and popularity of espresso coffee makers for the home have created a market for manufacturers of speciality recipe bases and boutique-style ground coffee.
Increasing company success
A great deal of money is invested in product development. Companies can be hesitant to invest huge amounts of money in developing a new product because of the risk of financial loss if it is not successful
Innovative Products
Innovative products are the result of completely new ideas.
Line Enhancements
Copy Cat Products
Consumer Demand
Product Tampering
Special Applications
(Defence force ration packs, Camping supplies, space foods, airline foods, medical foods)
Target market changes
Ageing
Reduced size household
Multicultural