Prepared Foods - August 2008 - (Page 36)

new product trends market watch Inflated and Deflated t the Restaurants 2008: Trends & Directions Conference, Technomic gathered experts and economists to explore the current foodservice market and the state of the U.S. economy, in general. Opening the conference, Ron Paul, Technomic founder, president and CEO, explained, “Chains were responsible for the bulk of industry growth in 2007. That year’s growth had slowed [from the prior year] and has slowed further in 2008.” Fiscal 2007 was a down year, as consumers began trading down (venturing more into limited-service restaurants [LSR] than full-service restaurants [FSR]), a trend that has continued. As for the economy, it is hard to find any improved areas. Paul expects a boost from the economic stimulus package in May and June statistics; however, this is likely to have little effect on the foodservice industry, as 34% of consumers plan to put their rebate checks in the bank, and a quarter plan to pay off credit card or other debts, according to Technomic’s “April 2008 Consumer Sentiment Survey.” Paul notes barely positive growth in 1Q 2008, and consumer confidence is low. Making matters worse, real growth of restaurant sales (when evaluating the 12-month moving average) was only 1.5% in December 2007 (a distinct drop from the 3.6% in December 2006) and had dropped further to 1.4% in May 2008. All of these numbers have been A adjusted for inflation, and Paul has observed that, historically, this measurement goes down before a recession, but it also goes up before an economic comeback. “The mood is poor, and consumers are feeling even poorer about the next six months,” Paul reports. “Confidence is at a 35-year low, as gas and grocery prices take a toll. Even LSRs are not immune.” For 2008, Paul foresees slow if not declining GDP, less spending and higher inflation, costs and unemployment. The few positives are not terribly uplifting: a cheap dollar means more international tourists, as prices are attractive for foreign travelers to visit the U.S. In addition, consumers will become more value-oriented, turning to LSRs, THE IN BOX: For daily industry news updates, see the homepage of www.PreparedFoods.com and www.NutraSolutions.com. CP Kelco U.S. Inc. and Fluxome Sciences A/S entered into an agreement to develop and commercialize fermentation-derived resveratrol for the dietary supplement, food, beverage and cosmetics markets. Cargill opened a new Snacks and Cereal Product Innovation Center in Minneapolis, Minn. MGP Ingredients Inc. reorganized certain top-level management positions: Don Coffey, Ph.D., is in the newly created position of vice president of the company’s ingredient solutions business segment; Randy Schrick assumes the new role of corporate director of manufacturing for the distillery products business segment, while also continuing to serve as vice president of engineering; Scott Phillips becomes corporate director of manufacturing for the ingredient solutions business segment; and Asif Malik is manager of MGPI’s distillery co-products technology platform. Dave Linne joined ConAgra Foods as senior vice president of advertising, Global Marketing Strategy. Bunge Limited and Corn Products International Inc. entered into a definitive agreement in which Bunge will acquire Corn Products in an all-stock transaction. Bunge also announced an agreement to acquire the international sugar trading and marketing division of Tate & Lyle PLC. David Michael & Co.'s Strategic Alliance Advisory Board added a new member: Myron Feinstein is an executive consultant specializing in strategy development/implementation and large-scale change management, leading high-profile project and process work with major corporations. Belgian brewer InBev plans to purchase AnheuserBusch for $52 billion, the Associated Press reports, to become the world’s largest brewery conglomerate. Campbell Soup Company acquired the Wolfgang Puck soup business from Country Gourmet Foods. Soyatech LLC formed a strategic business partnership with HealthFocus International (HFI) to market and distribute HFI’s proprietary market analyses through the Soyatech website, www.soyatech.com. 36 August 2008 ● www.PreparedFoods.com http://www.PreparedFoods.com http://www.NutraSolutions.com http://www.soyatech.com http://www.PreparedFoods.com

Table of Contents Feed for the Digital Edition of Prepared Foods - August 2008

Prepared Foods - August 2008 Table of Contents Hitting the Shelves Promoting Craveable Foods and Beverages It’s a Small World MarketWatch Regulations: Safety Dance A Taste of Southeast Asia Flavor Secrets: Asian Five-spice Flavor Secrets: The Well-seasoned Potato On the National Menu To Serve and Protect: Flavor and Nutrition Protection Fat Applications in Transition: Creation of Good vs. Bad Fats A Tasteful Formulation Balance Nutrient Density and Dairy Foods R and D Applications Seminar: Formulation Information R and D Applications: Some Flavors Like it Hot R and D Applications: Prebiotics from a Conifer? R and D Applications: Seeing Red (Foods) R and D Applications: A Probiotic with Survival Skills Abstracts

Prepared Foods - August 2008

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