New Product Development (NPD) is critical to a food businesses growth and success.
Food NPD has brought about a multitude of new products. This has led to the continuous introduction of new varieties, new types, and forms of food.
The criteria for developing most of these new products is based around specific NPD procedures. New food products are developed primarily in small and medium-sized enterprises, which account for the largest proportion of food manufacturers in most developed countries.
Product Development needs, can vary from sector to sector, but it it is widely accepted that the common areas are based on:
The process of new product development is based around creating a new food product to fill a gap or create a new market. Conversely most new food products are a reformulated version or a new version of a product on the market.
Could your new food product be the next "Jimini's" who are using insect powder to enrich their granolas, protein and energy bars formulated using cricket powder or high-protein pasta. So successful are their products they can be found in major retail chains in France, Germany and Spain.
2 billion human beings eat insects in their daily diet! Isn't that a food and market size rich in NPD and innovation potential.