   Finding The Next Big Thing:    An Inductive Analytical    Framework   Presented by: Mathew Mandeltort    Company Name...
Introduction
Today’s Agenda   Introduction   A “Next Big Thing”   An Inductive Analytic Framework       Trend Markers       Chef I...
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...
Case Study: Hummus   With barely $5M in sales in 1995, Hummus    now dominates the ‘refrigerated spreads’    category    ...
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 pomegran...
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 annu...
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....
SuggestedMethodology
A Six Step Approach   Menu Mining   Field Research   Raw Data & Text Mining   Initial Screening   Chain Evaluation Pe...
OutcomeCulinary                    Trend     Market      Chef      Consumer     Sourcing &Component        Overall   Marke...
Conclusion
Conclusion   Identifying opportunities within trends is    much more than evaluating a single data    point or marker   ...
Contact   Mathew Mandeltort       Sr. Consultant, Technomic, Inc.       v. 312.506.3917       c. 847.217.5660       f...
   Leading strategic consulting    and research firm dedicated    to the food industry   Over 40 years of food industry ...
Sample of Technomic Clients
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Prepared Foods R&D Applications Seminar presentation 6-26-11 mm(mr)#403_mmandeltort WB1.pdf

  1. 1.  Finding The Next Big Thing: An Inductive Analytical Framework Presented by: Mathew Mandeltort Company Name: Technomic, Inc. Date: 8/3/11
  2. 2. Introduction
  3. 3. 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
  4. 4. A “Next Big Thing”
  5. 5. 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)
  6. 6. Case Study: Hummus With barely $5M in sales in 1995, Hummus now dominates the ‘refrigerated spreads’ category Hummus Sales ($M)
  7. 7. Cautionary Tales Peruvian is the new Thai Ancient Grains Bacon Sweets Sous Vide
  8. 8. An InductiveAnalytic Framework
  9. 9. A Five Node Model
  10. 10. Trend Markers Health & Wellness Lifestyle Values Flavor Profiles
  11. 11. 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
  12. 12. Chef Influence Early Adopters Menu Applications Chain Appeal
  13. 13. Offal-ly Good Variety Meats Leading Chef: Chris Cosentino of Incanto Ethnic outlets
  14. 14. Consumer Awareness Mainstream Media Social Media Demographic & Ethnic Influences
  15. 15. What’s the Buzz?
  16. 16. Market Presence Ethnic & Specialty Markets Independent Grocery stores Mainstream
  17. 17. 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
  18. 18. Sourcing & Development Ingredient Sourcing Breadth of Applications Regulatory Limitations
  19. 19. 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.
  20. 20. SuggestedMethodology
  21. 21. A Six Step Approach Menu Mining Field Research Raw Data & Text Mining Initial Screening Chain Evaluation Perspective Final Analysis
  22. 22. OutcomeCulinary Trend Market Chef Consumer Sourcing &Component Overall Markers Presence Influence Awareness DevelopmentFregola Pasta      Pho      Bhaji Flour      Chimichurri      Burrata Cheese      
  23. 23. Conclusion
  24. 24. 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
  25. 25. 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/
  26. 26.  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
  27. 27. Sample of Technomic Clients

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