US food giant General Mills has unveiled a host of new product launches for the summer, as it bids to tap into a number of “consumer-driven food trends”.
Many of the new products closely align with an increasing interest in portion control, convenience and snacking – including new Yoplait Greek 2% Whips!, Nature Valley nut and seed crunchy granola bars, Annie’s organic cereal, Old El Paso mini taco boats, Totino’s pizza sticks and Häägen-Dazs stick bars.
“We’re in a period of very rapid change in the food industry,” said General Mills chairman and chief executive officer Ken Powell. “Consumers are very clear about what they want – simple ingredient lists, free from artificial colours and flavours, free from gluten, less sugar, less sodium, more convenience. This translates into very a clear set of growth opportunities for us. We’ve challenged ourselves to go out and really understand our consumers, get into their homes, shop alongside them and listen to what they want. These interactions allow us to build greater intuition, which helps us move much faster. Our new product line-up demonstrates our ability to listen and respond.”
To keep pace with the changing needs of consumers and to deliver new products to market faster than before, General Mills has disrupted its approach to innovation.
“In order to support the growth we’ve planned, we have moved toward a more entrepreneurial approach to new product development, which not only speeds innovation, but helps us put our consumers first and deliver exciting, relevant new products that meet consumer needs and drive topline growth,” said Peter Erickson, executive vice-president of innovation, technology and quality.
One of the ways in which the company is doing this is through so-called “lemonade stands”, where product development teams will go into business for a day with a product concept to test its viability.
In many cases the company’s new development processes have increased speed to market from about 24 months to less than 12.
General Mills’ new products in full
The portfolio of products announced today by the Minneapolis-based company is characterised by a focus on wellness, and in particular on natural and organic foods. Its newly announced product lines include:
It has also launched a number of “mealtime shortcuts”, such as:
General Mills is also introducing a host of snacks – from indulgent all the way to better-for-you – to meet consumer’s cravings regardless of the time of day or occasion:
Finally, General Mills will also launch a range of products that appeal to younger consumers and discerning teenagers that prefer differentiated products.
© FoodBev Media Ltd 2022
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