With changes coming so fast, it can be tough to stay ahead of the game. However, marketers and other beverage industry executives searching for competing products in the consumer packaged goods (CPG) market might have a new tool to make things easier.
According to the U.S. Department of Agriculture (USDA), New York-based Datamonitor reported that new food and beverage product introductions in U.S. retail outlets have risen somewhat steadily since the early 1990s. New product introductions averaged 16,324 each year between 1992 and 2010 and 20,883 each year from 2005 to 2010, including a slight decline in the 2008-2009 timeframe during the heart of the recession, according to the USDA.