foodproductdevelopment

foodproductdevelopment - The US Food Industry and Overview...

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The US Food Industry and Overview of Food Product Development (FPD) FOS 4435/5437 Spring 2010 10 January 2011
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US Food Industry
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What is the food processing industry? A branch of manufacturing that starts with raw animal, marine or plant materials Transforms them into intermediate foodstuffs or final food products Uses the application of labor, machinery, energy and scientific knowledge
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Overview of food expenditures Total sales (USDA, ERS) were approximately $1.16 trillion in 2008 At home (51.5%) and away-from-home (48.5%) Total sales have climbed steadily by 4-5% in the past 2 decades, but have slowed in the last few years ($1 trillion in 2004) Out-of-home sales (restaurants, institutions, etc.) have increased slowly but steadily as a percentage of total food sales (41% in 1984)
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Channels of distribution Producers Agriculture, aquaculture, cattle operation Intermediate processors Ingredients and supplies Final processors Finished food product manufacturers Wholesalers and distributors Independent or company owned Grocery retailers and HRI outlets Hotel, restaurant and institutional
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Growth is Achieved By New markets US geography, international sales New consumers targeted Gerber tropicals for Latin American populations Buy out another company and their customers New products!
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New Food Products Lifeblood of food company Demonstrates dominance in field Can be highly profitable if first- or best-to-market Demanding marketplace requires “new” Can be highly expensive if they fail Require, often, capital investment Can be hard to get new products onto store shelves Failure is embarrassing
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For a given company, a new food product can mean: Product has never been manufactured or distributed by company A current product is distributed to a new location New packaging, size or form An established product is marketed for a new niche
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Definitions
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This note was uploaded on 03/03/2011 for the course FOS 2001 taught by Professor Marshall during the Spring '08 term at University of Florida.

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foodproductdevelopment - The US Food Industry and Overview...

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