Cargill hones beverage market analysis tools
companies capture new trends and develop products in categories
they may not have tackled before.
It has developed a marketing tool called TrendCompass, designed to help beverage makers navigate their way through new and emerging market trends.
The concept also underlines the organisation's strategy of moving from simply being a bulk supplier of juices, blends and concentrates to being an ingredient partner with creative value.
"We see it as a 'marketing compass' that can either help companies create new products in line with their current brand strategy, or to develop ideas targeted at groups of consumers they haven't addressed before," said marketing manager Mirjam van Veldhuizen.
"The result is a clear 'map to market' that beverage manufacturers can use to create new products that meet the ever-changing demands of consumers and market dynamics."Cargill claims that TrendCompass is unique because unlike other tools, this service links the key elements underlying successful product development into a highly accurate predictive model.
Information about current and future global trends, market dynamics (for example, available ingredients and key developments in the beverage arena) and consumer behaviour, are analysed to identify where and how they interact. Cargill is then able to 'map' current products and identify gaps that could open up opportunities for manufacturers.
"This is not a static piece of research frozen in time but rather a living tool, which is constantly being updated to reflect current social, political and economic trends," said Van Veldhuizen. "We draw continuously on a range of published and unpublished research sources, trend watchers, country intelligence gathered through the Cargill global network and media reports.
"This material forms the basis of a highly accurate 'living' framework that can be used for the benefit of our customers."
Cargill Juice Beverage Applications says that has used its TrendCompass tool in recent work with a carbonated soft drinks customer, whose products are aimed at the youth market.
Using TrendCompass, the Cargill Juice Beverage Applications team analysed key factors affecting the market such as increased awareness among young consumers of their food and drink intake, the desire for products with health benefits and government pressure around children's obesity issues.
"Using the model we were able to show them how this could be done without losing their brand equity," said Van Veldhuizen.
"We strongly believe the TrendCompass tool to be a great demonstration to the industry that we are ready to be their strategic, creative and innovative partner in any kind of beverage development."