Combating price sensitivity: Nestle Malaysia banks on new product innovation to battle through economic challenges
Nestle Malaysia believes that its strong focus on continued new product innovation will help it combat ongoing global economic challenges and food commodity cost increases.
The Nestle Group as a whole announced its Q12023 financial results in April 2023, reporting a 5.6% increase in global sales compared to Q42022 to CHF23.5bn (US$26.4bn) but did not reveal any profits numbers in this report apart from a forecasted profits margin in 2023 to be between 17% and 17.5%.
What was highlighted was a 9.8% pricing increase overall, attributed to ongoing significant cost inflation. For the APAC region, this was broken down to be 9.1% in Zone Asia, Oceania and Africa (AOA) and 3.9% in Zone Greater China.
Upgrades and opportunities: Kraft Heinz pumps investment into Indonesia, eyes meat replacement innovation
Global food giant Kraft Heinz says investment in an upgraded facility and new sustainability pledges reaffirm its commitment to the crucial Indonesia market, while it has also revealed it is examining opportunities in the meat replacement space.
The firm’s largest production facility in the Asian region is located in Indonesia, mostly focused on the production of its ABC branded products which are a leader in terms of market share in the country.
Most recently, Kraft Heinz poured in a total of IDR 1.2 Trillion (US$ 84M) in CAPEX investment to upgrade this site, installing modernised processing equipment, solar energy and waste water management systems.
“This advancement is expected to transform the ABC Indonesia Karawang plant into a world-class factory and is an important milestone for us here in Indonesia as we pave the path for our long-term growth in Indoensia,” Kraft Heinz Indonesia-Papua New Guinea Managing Director Steven Debrabandere told FoodNavigator-Asia.
Sea-rious snacking: Taokaenoi on how health, snacking and Hallyu trends have merged to boost seaweed snacks market
Thai seaweed snacking giant Taokaenoi has highlighted a combination of healthier eating, more constant snacking and the overall Korean Hallyu trend as a major driver for seaweed snack popularity in recent years.
Taokaenoi (translated to English as ‘Little Boss’) is undoubtedly the biggest name for snacks made from seaweed in the Asia Pacific region, with not only leading market share in Thailand but also exports to almost 40 markets worldwide.
According to the brand’s International Brand and Marketing Director Chirawit Wongpitak, the firm has seen the popularity of its seaweed snacks rise in parallel with consumer demand for healthier eating, which he attributes to seaweed’s existing reputation as a nutritious food item on its own.
Fresh approach: Carlsberg, Kirin, Brass Lion on why refreshing and fruity flavours dominate APAC alcohol NPD
The creation of alcoholic beverages with a focus on refreshing or fruity flavours is increasingly dominating new product innovation efforts across multiple alcohol categories from beers to liquors in the APAC region.
In this edition of the FNA Deep Dive, we take a closer look at how the alcohol industry from major multinational brands such as Kirin and Carlsberg to smaller craft brands such as NIO Cocktails and Brass Lion are rolling out new innovations based on the refreshing or fruity flavour theme.
Kirin / Blackmores deal – Exclusive analysis: Japan giant eyes immunity growth and functional food innovation
Kirin’s is expected to double down on Blackmores’ R&D capabilities and new product development in the wake of its $1.2bn deal, according to exclusive insights from the Japanese giant and industry experts.
Blackmores might also co-develop products with another Japanese firm FANCL, in which Kirin also holds a stake in.
The Australian complementary medicines leader can expect to gain from Kirin’s R&D capabilities, especially in terms of dosage formats and environmentally friendly packaging.
The two firms have announced their acquisition plan valued at AUD$1.88bn (US$1.24 billion).