Kraft Foods Group, Inc. has revved up its innovation pipeline to bring more than 40 exciting foods and beverages to the table. This is the first comprehensive new products launch since Kraft became an independent public company in October.
Big break-up headlines rocked the food industry in 2011. But the market overall reported growth across the board. Expect big changes on this list next year.
The most successful new products include Hormel party trays, Hormel Natural Choice deli meats, Hormel Compleats microwave meals and Jennie-O Turkey Store oven ready items and turkey burgers.
Approximately 80 percent of the $19 billion in revenues from the newly spun food & beverage company comes from categories in which it holds the No. 1 or No. 2 market position.
The packaged food giant has already eliminated the equivalent of 14 million pounds of salt, or 1 billion teaspoons, from the North American diet annually.
Most recently, the spin off's Chief Innovation Officer served as global vice president, marketing, writing and creative expression GBU at Newell Rubbermaid, Inc.
Along with the naming announcement, Sara Lee revealed its strategy for its North American foods business, Hillshire Brands Company, which emphasized new product development, marketing investment and disciplined cost control.
New products generated 10.5 percent of net revenue in 2011, up from 7.4 percent in 2009. And as Kraft Foods plans to divide into two independent public companies, the company's R&D team has a robust development pipeline that's already delivered more than 70 new products in the past year.
