By Sharon OmahenUniversity of GeorgiaGreen and purple ketchup, mayonnaise from a squeezable bottle,soup you can eat while driving your car. New food products likethese aren’t just flights of fancy.”Food product development is critical to the survival and growth of the companies within our vast and vigorously competitive, $800billion American food industry,” said Aaron Brody. “Probably aquarter of a million different food products are available, with15,000 to 20,000 or so new items introduced annually into thecrowded mix to try to satisfy consumer desires.”Brody is an adjunct food science and technology professor withthe University of Georgia College of Agricultural andEnvironmental Sciences. He shared his knowledge of productdevelopment and packaging with food industry managers during aone-day short course June 24.The course was organized by the Food Product Innovation andCommercialization Program, formed by UGA researchers.New product development changing”In the past, and to a degree, even today, to develop new foodproducts, we went to the kitchen or laboratory or pilot plant andwhipped up a recipe, which was sent to marketing to sell,” Brodysaid. “Or we assembled a group of creative people to brainstormideas that were sent to the lab. Or we waited for farmers to growa new crop.”Today’s food industry leaders have to know the consumers’ wants,create the right packaging and generate a profit, he said.John Lord, a food product development and marketing researcherfrom St. Joseph’s University and member of the FOODPI&C program,said the high number of new products announced each year isactually much smaller than it seems.”There may be 20,000 new UPC codes … each year, but a very,very small number of these are really new to the world,” he said.”Many are just new adaptations of existing products or temporaryor seasonal products like Oreos with a different color icing.”Few new products really newOf each year’s new products, Lord said, only one-third will beconsidered successful in two years.”This is called ‘product churn,'” he said. “The industry puts alot of products out there and waits to see which ones stick.”Why do so many fail? What drives shoppers to buy new foods?”Consumers want products that taste good, are good for them andare convenient,” Lord said. “Thanks to the food industry, we nowhave cereal bars with milk in them so we can now eat theequivalent of a bowl of cereal while driving a car.”Successful new foods are being developed, too, to reduce the timewe spend cooking. “Look at bowl meals,” he said. “We can now heatit up, eat it and throw away the dishes. If you have a plasticspoon handy, there are no dishes to wash.”Indulgent products are another trend on the rise. “Ben andJerry’s ice cream and Hershey’s upscale chocolate products arebeing sold so we can reward ourselves for living stressfullives,” he said.Some products before their timeLord said some new products are introduced before their time.Cereal with freeze-dried fruit, for example.”In 1965, the technology wasn’t good enough,” he said. “By thetime the fruit was ready to eat, the cereal was too soggy.Thirty-seven years later these cereals taste great and the fruitattracts consumers because it adds a health notion.”Mark Thomas, a research chef with MDT, Ltd., and a FOODPI&Cmember, was a member of the team that made the hugely successfuldecision to add baby-back ribs to the Chili’s restaurant menu.”If you can’t get it to the consumer, it’s not a new product,”Thomas said. “To be successful, you have to be sure consumerneeds are met during the entire development process.”Thomas compared new foods to a human life.”You have to be willing to support the baby from birth toadolescence and on to maturity,” he said. “And if it dies, youperform an autopsy, evaluate what went right and what went wrongand what you could have done better. And you get ready for thenext baby.”More than 30 food industry representatives attended the UGA newfood products development seminar.
Survey finds private equity investors looking to boost renewable holdings, cut oil and gas ties FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Roughly 40% of private equity investors say they will be reducing investments in the oil and gas sector in the next five years because of climate change concerns, according to a winter outlook survey conducted by secondary market investment firm Coller Capital Ltd.“Limited partners who do expect change to their investment strategies are broadly planning to replace oil and gas exposure with investment in renewable energy and climate-friendly products and services,” Coller said in the survey’s Nov. 28 release.While 57% of the 113 limited partner investors surveyed in Europe and Asia said they were changing energy strategies in reaction to climate change, only 30% of North American limited partners said the same, according to the survey. Just 16% of those in North America expect to need to make these modifications within the next five years, the survey found. More than one-third of those surveyed said they would be reducing investment in oil and gas, 42% said they would put more money behind climate-friendly goods and services, and 40% said more investment cash would go to renewable energy, according to the survey. [Bill Holland]More ($): Concerned over climate, PE investors looking to leave oil, gas for renewables
92 Enoggera Terrace, Paddington has undergone an extraordinary restoration.Renovations come in all degrees of quality — from fast slap-and-dash flippers to museum standard restorations that set high-end projects apart from the rest.Beneath all this was a stunning home — it just took a lot of imagination, resources, time and care to unearth it.92 Enoggera Tce, Paddington falls into the latter half of that scale according to marketing consultant with Ray White Paddington, Matthew Abboud.92 Enoggera Tce Paddington was a horror show before the renovation“It’s been restored from the ground up. It was basically an unlivable shack,” he said.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago“Even down to the brass light fittings — the smallest possible detail.”The renovation was meticulous. Prior to the hard work, this is what passed for a living space.Mr Abboud said all the major renovation work was completed by 2011, with landscaping and sundries finalised in the past few years.The two-level, four-bedroom classic colonial home is positioned on 539sq m of land and includes rumpus, living room, deck and downstairs patio, so there’s plenty of space to spread out.And while the home itself is a stunner, open the front door and you’d reveal picture-frame views of the city skyline.Not exactly the “Great outdoors” before all the hard work. A view so good, it should be framed.“It’s special, isn’t it,” said Mr Abboud.“You get the full scope of it all. It’s interactive — you can see it from most rooms,” he said.The view of the back of the house wasn’t too shabby either.More impressive heritage renos…Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:39Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:39 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenAverage house? Wait till you see the extension!00:39 Related videos 00:39Average house? Wait till you see the extension!00:31Converted Homes: Jails, shops & police station 00:43Best converted homes 201700:35Dreamy Victorian Terraces 01:59Dream Home: Carlton02:35The Converted: Blacksmith