Baking & Snack - July 2022 - 8

editorial
Paying a premium
M
Many players across the baking industry have been running
near or at capacity for two years, simply trying to
fill orders for their best-selling products. New products
have been far from the minds of many as production lines
didn't have the space to accommodate a run of a product
that may not succeed. As the industry emerges (hopefully?)
from
the coronavirus (COVID-19) pandemic,
however, and adapts to today's challenges, R&D teams are
getting back to work ... if they ever really stopped working
in the first place.
These are the findings of our first-ever Trends in
Industrial Baking Industry Innovation & Development
Study, conducted by Cypress Research. We asked bakers
how their priorities regarding new products evolved
since 2018, and you can read all about the findings
in my report in this issue. Spoiler: The baking
industry's product development appetite is definitely
returning but with a taste for moderate
risk and finding ways to save.
For those baking companies looking for
inspiration, there was plenty to be found
at the International Dairy, Deli, Bakery
Association (IDDBA)'s annual
show, held
in Atlanta last month. Some companies never
stopped innovating, like Aspire Bakeries, Los
Angeles, which debuted its line of Decadent Classic
Cookies. These cookies are meant to push the envelope
of indulgence with the most premium inclusions and
ingredients.
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Contributing Editors:
EDITORIAL
Charlotte Atchley
Dan Malovany
Keith Moore
Michelle Smith
Lucas Cuni-Mertz
Taryn Parker
Donna Berry
Beth Day
Laurie Gorton
" These cookies are for adults, not children, " said Chris
Prociv, senior vice president of marketing, innovation
and R&D at Aspire.
While
there has been concern that
inflation may
prompt consumers to trade down from premium selections,
Jonna Parker, team leader for fresh at IRI, reported
that belt tightening is more likely to come from restaurant
spend rather than grocery. And similar to the start of the
pandemic, consumers will be looking to recreate the restaurant
experience at home.
While we will see an increase in consumers shopping
the sales, Ms. Parker said, when entertaining and celebrating,
more consumers will be doing that at home.
Forty-seven percent said they plan to gather at home the
same or more often than they did in 2021, and 70% plan
to host family and friends.
" When it comes to entertaining, we definitely see people
wanting to impress their families, and this means that
entertaining isn't about getting a quarter sheet cake like
back in the day, " Ms. Parker explained.
To impress and recreate the restaurant experience, consumers
are looking for premium and are willing to spend
on their food. And this was echoed on the show floor by
bakers selling those high-end products. While their prices
may be going up, sometimes by as much as 10%, consumers
are still buying those products because when they
want premium, they'll pay for it.
- Charlotte Atchley, Editor
catchley@sosland.com
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Baking & Snack - July 2022

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