Check out the March 2024 issue of Prepared Foods, featuring our 2024 State of the Industry New Products Annual, which looks at innovative food and beverage products across all categories.
Just in time for Thanksgiving and the holidays—came news for which food and beverage processors could be thankful. Circana (formerly IRI) and The NPD Group released a 2024 food and beverage outlook with a projection of modest volume growth this year after three consecutive years of volume declines.
The pizza category is seeing leaders embrace new toppings and crusts, along with processors—from dramatically different categories—breaking into pizza with new offerings.
2023 was a solid year for cookies and bread with launches up 6% and 5%, respectively. New cakes, pastry and sweet good introductions also were in the plus column, up 2.7% for the year. Baking ingredients and mixes posted a 1.6% decline in launches while cracker introductions dipped 4.8% in 2023.
Consumers looking for meal solutions—for any breakfast, lunch or dinner—need look no farther than the grocery meat case. There are prepared offerings to deliver meals or sides in just minutes. Moreover, the industry’s latest new products address consumer interests for global taste adventure, premium flavor, health and quick convenience.