Ken Research announced recent publication on, “Failure: V8 Protein Shakes and Bars“. This is a successes and failures market research report. It examines the details of and reasons behind the breakdown of V8’s protein range. It delivers the critical “what?”, “why?”, and “so what?” analysis to teach clients decisive lessons that increase business chances to launch captivating products, especially within an over saturated marketplace. It provides detailed account of methods to avoid and reduce the risk of failure by learning from brands/products that have under-performed. Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really influencing the industry. One gets complete understanding of the incentives of broader appreciation of the fast-moving consumer goods industry by acquisition of insights from both within and outside of protein food sector. Likewise, it successfully provides valuable strategic take-outs to help straight prospect decision-making and inform new product development lines.
The longing among consumers to lead healthier lifestyles has led to the proliferation of protein products in the food and drink category. The V8 juice line has been gradually growing and now has branched into the enticing bars category where consumers come to for none other than more protein. However, as protein is now well established in food and drink products, brands often find it difficult to stand out in the marketplace. It is no longer sufficient for brands to simply rely on the inclusion of high concentrations of protein to entice consumers. Instead, consumer and industry trends must be recognized and acted upon in order to succeed.
The failure in this industry is seen as an outcome of one of the following:
- Failed innovation- it can severely impact profit and reputation.
- New product line extensions should not be viewed upon as a remedy for core business problems. (In V8’s case, core beverage operations began to decrease and a protein line extension was essentially an attempt to offset this decline by tapping into the growing protein trend)
- Consumer willingness to experiment with new formats and flavours when it comes to food and drink also means that products that lack aspects of differentiation will not catch consumers’ interest (In the over saturated marketplace of protein products, this was especially evident with V8’s protein range)
- Treating protein as a stagnant macronutrient is also risky-Protein trends are shifting to include “trendier” protein sources including plant proteins. This can result in less research based brands being left behind.
Campbell has developed a line of nutrition shakes and bars under the V8 brand that deliver rewarding vigour from ingredients consumers know and conviction. The V8 brand has expanded through innovation, blending vegetable nutrition with other ingredients to deliver healthier solutions for the “on-the-go active health explorer.” V8 Protein shakes are available in chocolate, vanilla, chocolate raspberry varieties, while the bars are offered in chocolate peanut butter, oatmeal raisin, chocolate pomegranate with cranberries flavours etc. Consumers can’t find bars and shakes made with real fruit and vegetables and without artificial sweeteners, particularly in the nutrition shakes category although, V8 brand is posed to fill that void with satisfying energy from a blend of proteins, a quarter cup of vegetables, and sweetness from honey to deliver more wholesome products which consumers can trust. The innovated product would contain essential vitamins and minerals delivered with real ingredients with no artificial sweeteners, ¼ cup of vegetables in each serving and many such alluring qualities. V8 Protein is meant to turn around sales declines for Campbell’s shelf-stable juices and the time after time substandard presentation of its U.S. Beverages unit. Company’s key learning was that these shakes and bars were not differentiating enough to thrive in a crowded and cutthroat landscape. Campbell Soup first announced plans for the juice brand’s foray into the fast-growing adult on-the-go nutrition market in July 2014. V8 Protein was part of the company’s answer to a lethargic shelf-stable juice category and continued weakness in its U.S. Beverages business.
The products, which debuted included explicit ingredients including carrot and sweet potato, using honey as a sweetener, milk protein concentrate, soy protein isolate, pea protein isolate, whole grain brown rice protein concentrate and quinoa flour. Resultantly, V8 saw strong consumer interest and distribution of protein Bars and Shakes in 2015.
The discontinuation of V8 Protein comes at a time when consumer demand for high-protein food and beverage products remains strong. Plant protein in particular is gaining traction among Americans. Developing products based on trends is never a guarantee for success. Campbell may have gone wrong is not necessarily due to the trending ingredient. It is instead about how the company went about using protein in its V8 line. Manufacturers, particularly start-ups, are finding new and exciting protein ingredients; Campbell went with milk, soy, and pea proteins. Campbell’s V8 Protein line wasn’t able to stand out or take advantage of on consumers’ protein preferences.
Topics Covered in The Report
- Global protein shakes market
- Global v8 protein shake market research
- Global v8 protein bars market
- v8 protein bars chocolate pomegranate market worldwide
- Global v8 protein barschocolate peanut butter consumption
- Global v8 protein shakes and bars consumption
- Global Energy drinks market
- Global protein bar industry
- Global v8 protein shake market future outlook
- Global nutritional supplements market research
- Global v8 protein shake market growth
- Global v8 protein shake market future
- Global v8 protein shake market Trends
- Global v8 protein shake market share
- Global v8 protein shake market analysis
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Ankur Gupta, Head Marketing & Communications