Market in Motion: Food & Beverage Innovation Worth Watching
They say that “less is more.” Yet unfortunately in the world of new prepared foods and beverages—last year was a case where less was indeed, less. The unfortunate truth is that many shoppers have found grocery store shelves temporarily bare in certain categories.
Entering a third year of the global COVID pandemic, shoppers and consumer packaged goods companies face issues of rising inflationary prices, supply chain disruptions and shortages of key ingredients or other materials. And throughout this year’s “State of the Industry” New Products Annual, there are several references to declining year-to-year new product introductions as tracked by Innova Market Insights.