Prepared Foods R&D Applications Seminar presentation 6-26-11 mm(mr)#403_mmandeltort WB1.pdf

 Finding The Next Big Thing: An Inductive Analytical Framework Presented by: Mathew Mandeltort Company Name: Technomic, Inc. Date: 8/3/11

Introduction

Today’s Agenda Introduction A “Next Big Thing” An Inductive Analytic Framework  Trend Markers  Chef Influence  Consumer Awareness  Market Presence  Sourcing & Development Suggested Methodology Conclusion

A “Next Big Thing”

Case Study: Greek Yogurt After the first imports hit the shelves in 1998, Greek Yogurt today accounts for 19% of all yogurt sales Independent brands currently have 70% market share Greek Yogurt Sales ($M)

Case Study: Hummus With barely $5M in sales in 1995, Hummus now dominates the ‘refrigerated spreads’ category Hummus Sales ($M)

Cautionary Tales Peruvian is the new Thai Ancient Grains Bacon Sweets Sous Vide

An InductiveAnalytic Framework

A Five Node Model

Trend Markers Health & Wellness Lifestyle Values Flavor Profiles

Pomegranate Multiple health benefits: Nutra-ceutical $10 million funding medical research that shows how pomegranate juice is good for the heart. Top selling super premium juice

Chef Influence Early Adopters Menu Applications Chain Appeal

Offal-ly Good Variety Meats Leading Chef: Chris Cosentino of Incanto Ethnic outlets

Consumer Awareness Mainstream Media Social Media Demographic & Ethnic Influences

What’s the Buzz?

Market Presence Ethnic & Specialty Markets Independent Grocery stores Mainstream

Sriracha on the Shelf Created 1980’s Los Angeles Huy Fong Foods: More than 10 million bottles produced annually. Sell 80% of product to Asian companies, for distribution through Asian channels Only 17 Top 500 Chains menu mentions

Sourcing & Development Ingredient Sourcing Breadth of Applications Regulatory Limitations

Got Goat? 3.1 million goats: 820,000 were for market (26%). The average farm herd size of meat goats in the U.S. is between 28 and 30 goats. U.S. is more than 750,000 head deficient in meeting current demands for goat meat. No USDA quality or yield grades.

SuggestedMethodology

A Six Step Approach Menu Mining Field Research Raw Data & Text Mining Initial Screening Chain Evaluation Perspective Final Analysis

OutcomeCulinary Trend Market Chef Consumer Sourcing &Component Overall Markers Presence Influence Awareness DevelopmentFregola Pasta      Pho      Bhaji Flour      Chimichurri      Burrata Cheese      

Conclusion

Conclusion Identifying opportunities within trends is much more than evaluating a single data point or marker A broad based inductive model helps increase chances of identifying opportunities within trends A successful inductive model will include both aesthetic and pragmatic criteria

Contact Mathew Mandeltort  Sr. Consultant, Technomic, Inc.  v. 312.506.3917  c. 847.217.5660  f. 312.876.1158  Email: Mmandeltort@technomic.com  Blog: http://epicureancandidate.wordpress.com/

 Leading strategic consulting and research firm dedicated to the food industry Over 40 years of food industry focus Experience in virtually every channel and product category Broad contact network Professional staff with direct industry experience Unparalleled resource center

Sample of Technomic Clients

Prepared Foods R&D Applications Seminar presentation 6-26-11 mm(mr)#403_mmandeltort WB1.pdf

by mmandeltort on Aug 04, 2011

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Prepared Foods R&D Applications Seminar presentation 6-26-11 mm(mr)#403_mmandeltort WB1.pdf — Presentation Transcript