GA Trade Nov-Dec interactive - page 26

G T A I I N D U S T R Y T A L K
traditional food industry is rapidly
increasing. Companies of the latter
sector are starting to replace tradi-
tionally used foods in their product
lines with ingredients that are typical
for the Asian and Latin-American
cuisine. For example, Campbell Soup
Company, the industry giant, has
launched a new chicken noodle soup
product line in 2013, replacing
noodles with quinoa. Several niche
products in the area of ethnic food,
such as quinoa and lemongrass, have
the potential to become bestselling
products within the space of a few
years, according tomarket experts.
Some typical Mexican dishes such as
tacos and burritos have already
arrived in that segment.
Demand for New
PackagingDesign
This development is highly relevant
for the packaging industry, since
specific packaging is more andmore
in demand. Such packaging is to
attract the targeted consumer groups
with its design. Analysts also notice
a progressive blending of trends
regarding ethnic and convenience
foods. According to Packaged
Facts, a high dynamic can be seen
when the respective products
are introduced into themarket. Here,
the food industry is searching for
new packaging options tomeet such
demand. Campbell Soup Company,
for example, has launched a new “to
go” soup that can be prepared in one
minute. Various variations of this
soup contain amongst other things
ingredients such as soy, coconut milk
and green chili peppers. Experts
notice a persistent growth potential
for products that combine classic
Asian as well as Hispanic recipes and
ingredients. Thus, dishes such as
sushirrito (sushi wrapped in a
burrito) gain a lot of interest.
According toMintel Group,
predominantly young adults drive
themarket in this segment. A
strong interest in new product
creations using tastes unknown to
those young adults is noticeable,
says themarket research institute.
n
GTAI
INDUSTRY TALK
Detailed industry reports, written by the U.S.
correspondents of German Trade and Invest
(GTAI), the official German foreign trade and
inward investment agency.
About theAuthor
Christian Janetzke
Director, Germany Trade and Invest
75Broad Street, 21st Floor
New York, NY 10004
T 212-584-9717
26
GermanAmerican TradeNov/Dec 2014
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