Huge drop in product launches last year
As market research firm Mintel reports, there were 30% less product launches in the US food and beverage industry in 2009, compared to 2008. A number of small companies have slowed down product introductions due to the economic situation, whereas some segments have become over-saturated. This is the biggest decline in the last decade. Despite the trend, some categories experienced growth, for example ethical and environmental claims increased from 9% to 17% of all product launches in 2009. Products boasting an economy claim have increased by 72% compared to the previous year.