Candy Industry
  Home
  Subscribe to Candy Industry
  Subscribe to Sweet & Healthy eNewsletter
  Subscription Customer Service
  Online
  Breaking News
  General News
  Industry Trends
  Ingredient Intelligence
  New Product Marketplace
  Packaging & Processing Technologies
  Personal Perspectives
  Podcasts
  Profiles
  Special Reports
  Supplier News
  Sweet & Healthy eNewsletter
  Webinars
  Current Issue
  Digital Edition
  Resources
  Archives
  Buyers Guide
  Calendar
  Classifieds
  Industry Links
  Market Research
  Events
  Food Safety & Security Summit
  Kettle Awards
  Packaging That Sells Conference
  Info
  Contact Us
  Media Kit
  Reprints
  List Rentals
Search in: EditorialProductsCompanies
Recession Slows Down Product Launches

October 28, 2009

ARTICLE TOOLS
EmailEmailPrintPrintReprintsReprintsshareShare



Granted, the fourth quarter typically represents boon time for confectionery sales. It also opens the door for a slew of seasonal new product launches. Consequently, Mintel’s update on new product launches provides a snapshot that’s only 75% complete.

Currently, through September 2009, there were 1,231 new confectionery products introduced, 728 of which were chocolate and 503 of which came from the sugar and gum confectionery sectors.

Nevertheless, those numbers suggest a significant falloff in product development. Extrapolating current new product launches till the end of the year produces a measly 1,775 total, which constitutes a 55% plunge from the 2,761 confections launched last year.

Even if the fourth quarter unleashed an extraordinary amount of new products, it’s hard to imagine that manufacturers would double the number of 1,231 products launched to date. Even that wouldn’t suffice to rival 2008’s total.Every sub-category listed by Mintel indicates significant drop-offs in new product launches, with chocolate tablets, non-individually wrapped chocolate pieces, other chocolate confectionery, pastilles, gums, jellies and chews, and toffees, caramels and nougats seemingly holding their own.

And while expected year-end totals for new product launches will improve, it’s clear that research and development resources were channeled toward more long-term projects and/or postponed as companies trimmed costs in light of lagging sales.

With regards to new product claims, kosher remains a strong consumer draw in chocolate, less so in sugar and confectionery. Touting premium within the chocolate segment continues to appeal to chocolate manufacturers, while low/no/reduced sugar remains a leading claim amongst sugar and gum confectioners.

Word has it that there will be an upshot of new product launches in 2010. Whether those numbers will rival 2007 or 2008 totals remain to be seen.

Surely, one hopes the creative juices will be flowing and outpace what at this stage of the game seems a sluggish 2009 for new products.


|PrintEmail

Did you enjoy this article? Click here to subscribe to the magazine.



















BNP Media
© 2010 BNP Media. All rights reserved. | Privacy Policy