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In This Edition of Prepared Foods e-Flash
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2008 SPIRIT OF INNOVATION AWARDS Prepared Foods' Spirit of Innovation Award recognizes product development teams for their work on exciting new products. The Spirit of Innovation Awards, sponsored by Ventura Foods, will be presented at the Prepared Foods 2008 New Products Conference in Scottsdale, Arizona, at the Fairmont Scottsdale Princess Resort. One will recognize excellence in the Retail category, while the other notes an innovative Foodservice introduction.
Nominations for Retail and Foodservice new products are now being accepted. For more information, contact William Roberts at robertsw@bnpmedia.com or visit www.bnpevents.com/PF/NPC.
NEW East Coast Applications-oriented Educational Seminar Prepared Foods' 2008 R&D Applications Seminar East will offer 80+ practical seminars to further educate bench-level R&D on solutions to specific application challenges and a better understanding of ingredient functionality April 14-15, 2008, at the Hilton East Brunswick Hotel, East brunswick, N.J. To register your team, or for seminar schedule information, visit
http://bnpevents.com/PF/RD-East/.

Add Spark to Your New Product Development Prepared Foods' 2008 New Products Conference will feature world-class speakers analyzing global new product innovations, what's hot in culinary trends, powerful emerging consumer trends, and much more. Held September 21-24, 2008, in Scottsdale, Ariz. For more information, contact Marge Whalen at 630-694-4347, whalenm@bnpmedia.com or visit
www.PreparedFoods.com/npc.
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Portion control has continued to be a growing trend for food and beverage products; the most recent illustration is by General Mills under its Betty Crocker Warm Delights Minis brand. Initially, the product was introduced in the U.S. in February 2005 with individual single-serve packaging and more than 350 calories. Consumers could conveniently prepare a "freshly baked," warm bakery item with nothing more than a microwave...
For an in-depth analysis of other products hitting store shelves, visit Prepared Foods' website. | |
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Slowdown in Chain Restaurant Growth Rates February 29/Chicago -- The 500 largest U.S. restaurant chains registered slower growth rates, posting 5.1% annual sales growth in 2007. According to data released today by Technomic Inc. in its annual reporting on the top U.S. restaurant chains, the foodservice consultancy found that U.S. systemwide sales for the Top 500 rose to an estimated $223.6 billion in 2007, up $10.7 billion over 2006.
"As the U.S. economy continued to struggle against rising fuel prices, increasing cost of labor and commodities and menu price increases, the Top 500 restaurant chains' sales growth declined to 5.1%, versus 6.1% in 2006," said Ron Paul, president of Technomic. "Current economic conditions have caused many chains to scale back their U.S. unit expansion with unit growth rates for 2007 of 2.4% compared with 3.8% a year ago."
Significant growth continued to come from the limited-service beverage, bakery café and chicken categories with Starbucks, Panera Bread and Chick-fil-A posting estimated 2007 double-digit sales growth of 21.5%, 17.6% and 16.1%. McDonald's, the largest U.S. restaurant chain, grew an estimated 6.1%, with sales exceeding $28.7 billion. Subway continued to dominate the growing other sandwich segment with 6.4% sales growth and total sales of $8.2 billion.
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For the remainder of this release, or for information on ordering the report, contact: Technomic Inc. Chris Urban 312-506-3929 curban@technomic.com www.technomic.com
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