- MARKET INSIGHTS
In the last few years, private label food and beverage launches have increased significantly around the world. With the economy in a recession, consumers are turning more toward private label products, due to their reasonable prices combined with quality ingredients. Consumers want better value for their money and tend to favor lower cost items rather than expensive brand names.
Some of the areas where this trend appears to be prominent are in restaurant-quality foods, culinary aids and ingredients, and out-of-home products. Consumers are focusing more on staying in and cooking their own meals, rather than going out to dinner, so many private labels are creating healthy prepared food items, as well as fresh uncooked ingredients to help in creating quality meals at home. Many private labels are targeting consumers looking to cut back on spending money on lunch while at work, so portable convenience foods that rival most cheap lunchtime locations are becoming more popular.
Morrisons Food Fusions, a U.K.-based company, has a range inspired by classic ingredients combined with the latest styles. The line is comprised of easy-to-use ingredients to help create dishes at home. The latest product launched this year was its Breadcrumb Range, available in exotic varieties, such as Thai, Chilli & Coconut Crumb; Lemon & Pepper Crust; Tortilla Crust; and Mixed Seed Crust. The breadcrumbs have interesting flavors that contribute to creating restaurant-quality meals at home.
Information in this column is from the Global New Products Database, the premier source of global product intelligence, published by Mintel International Group; 351 W. Hubbard, 8th Floor; Chicago, IL 60610; call: 312-932-0600; fax: 312-932-0474; or e-mail email@example.com.