By Simon Callender, creative planning director at Initials2021-04-28T09:19:00+01:00
Source: Unsplash
With the prospect of better times ahead, there will likely be an avalanche of new product launches in 2021
The pandemic has had a marked impact on product launches, with budgets cut, briefs slashed and NPD projects stymied.
With the prospect of better times ahead, there will likely be an avalanche of new product launches in 2021. But as competition increases, so too does failure. According to Nielsen, 76% of all fmcg brand launches flop.
At the same time, how, when and where we shop has fundamentally changed.
McKinsey has shown 36% of consumers are actively trying new brands, while shoppers spent £1bn more with supermarket brands in January 2021 than they did in January 2020.
Healthy crisps, meat alternatives and a bevy of sweet treats and desserts all feature in this round-up of new product developments from food and drink manufacturers.
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Magic mushrooms: the next big thing in beverages? The shroom boom is in full effect. Many US consumers have readily embraced adaptogenic mushrooms – known for boosting immunity, relieving stress and other health benefits. Now these functional fungi are sprouting up across the beverage category, which is in the midst of an innovation explosion. Here’s why a mushroom-based beverage just might end up in your refrigerator soon.
The beverage category is becoming a veritable forest full of mushroom lattes, coffees, seltzers and energy shots. Adaptogenic mushrooms are in vogue right now. So is beverage innovation and exploration. The younger generations’ willingness to seek out and try functional, non-alcoholic beverages (including those laced with CBD) is driving the creation of a flurry of new products, all vying to become the next big thing.