Tuesday, 10 December 2013

Business Innovation and the FiE Awards

On the 19th of November this year the most recent FiE Excellence awards took place in Messe Frankfurt. The awards are held every two years and reward the major innovations in the food industry based upon seven categories and judged by a panel of industry experts. Innovation is incredibly important for the future of the food and beverage industry, and highlighting the companies who are paving the way in innovation-led business indicates who the key players are going to be as we move forward into the next couple of years.

ROQUETTE won the overall innovative food ingredient award as well as the equivalent award in the Bakery category for their Microalgae High Lipid Algal Flour. The flour contains 50% lipids, and has been used to successfully bake goods without eggs or butter, with reported similar tastes and textures. This has the potential to completely change the face of the bakery market in the next decade, particularly in our health-conscious society.

Taking home the Beverage innovation award, Tate & Lyle are proving big names in the future of the industry with their Soluble Gluco Fibre PROMITOR®. The company states that it is committed to responding to the growing consumer demand for products with health benefits, which is where their creation of this dietary fibre stemmed.

There was a heavy focus on the health and functionality of future foods at the awards, with other winners including Chr. Hansen – SaltLite, which can help reduce sodium levels in cheese by 50% without affecting taste and texture, and IOI-Loders Croklaan - CristalGreen®, a product which eliminates the need for hydrogenated fats in confectionery.

What these awards demonstrate is that the food industry is dedicated to continued growth, and aims to produce what the consumer wants. Ongoing technological innovations is an indication that the industry is confident about the future of the food and beverage market, and that there are opportunities for further expansion.

Knowing where the food and beverage industry’s business confidence is at is essential for understanding the market, and realising the potential for the future. The Industry Report Store has an invaluable market intelligence report which details food and beverage business confidence from Q4 this year. It confirms the overall optimistic trends of the industry, illustrated by a 2% increase in net revenue growth for PepsiCo. Both PepsiCo and Coca-Cola are intending to leverage growing health trends by expanding their range of functional beverage products, perhaps using innovations launched by the winners of the FiE awards.

Alongside detailed economic profiling and analysis of impacting factors, such as austerity measures, this report highlights the key areas for future growth and how both business and consumer confidence will affect it. It’s an insightful source of business intelligence for any company wishing to know more about where the food and beverage industry is currently standing, and absolutely integral for those wishing to keep their business strategies in line with the latest information.

Find out more about this report here:Food and Beverage Business Confidence Report Q4 2013


Contact us if you’d like to know more or if you want to request some sample pages.  

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Elizabeth Ryan
Marketing

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