New Product Pacesetters Build Consumer Connections
CHICAGO — Products that deliver convenience, compelling brand stories and enhanced functionality were among the most groundbreaking innovators across the food, beverage, and nonfood consumer packaged goods sectors, according to Circana LLC's "2024 New Product Pacesetters" report.
The 30th annual report underscores consumer packaged goods (CPG) companies' commitment to consumer-centric innovation, prioritizing solutions for evolving lifestyle and occasion needs. New offerings successfully address today's demand for convenience, elevated wellness benefits and trusted brand solutions, Circana found.
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The 2024 Pacesetters reached $8.4 billion in combined year-one multi-outlet sales, with brands embracing newer formats, nutritional enhancements and extensions into new categories — often in partnership with other brands or licensed entities — capturing consumer interest across diverse lifestyles.
"Innovation remains at the heart of growth and consumer connection. The 2024 Pacesetters tap into the emotional and practical needs of modern consumers," said Lisa Maas, principal and practice lead, innovation, at Circana. "Whether it is indulgence paired with protein, enhanced wellness, or iconic brands solving for evolving needs in new spaces, these products resonate because they make life easier, better, and more enjoyable."
The Top 10 Food and Beverage New Product Pacesetters for 2024 are:
- Just Bare Lightly Breaded Chicken
- Dr Pepper Strawberries & Cream
- C4 Energy
- Red Bull Sea Blue Edition
- MrBeast Feastables
- PRIME Energy
- Legendary Foods
- Golden Island
- Real Good Foods Lightly Breaded Chicken
- CELSIUS Essentials
The Top 10 Nonfood New Product Pacesetters for 2024 are:
- Charmin Ultra Soft Smooth Tear
- Cascade Platinum Plus ActionPacs
- Hero Cosmetics
- Cirkul
- Swiffer PowerMop
- Lume
- Gain + Ultra Oxi
- PrettyLitter
- TEMPTATIONS Dry Cat Food
- Bloom
The 2024 New Product Pacesetters list proves the CPG industry's ability to adapt, according to Circana. The top-ranking food and beverage products delivered high value and versatility as consumers continued to prioritize convenience without sacrificing flavor, functionality or quality. This reflects a shift toward accessible and gratifying at-home experiences.
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"Consumers' tastes and preferences continue to evolve. This year's Pacesetters embody the trends shaping markets today, from protein-powered foods to elevated hydration solutions and co-branded new-to-market products," said Joan Driggs, vice president of content and thought leadership at Circana. "These innovations demonstrate how CPG leaders meet consumers where they are while opening doors to new occasions and usage opportunities."
KEY INNOVATIONS THAT SHAPE CONSUMER BEHAVIOR
According to the report, innovation themes driving change across the industry include:
- Protein Power: High-protein offerings from the traditional to the transformative fulfill increasing wellness demands.
- Restaurant-to-Retail and Trusted Brands in New Spaces: Iconic brands like Sonic Tots and IHOP launched products that recreate restaurant experiences at home.
- Functionality and Flexibility: Solutions like REV Energy & Electrolyte Gum and MiraFIBER Gummies cater to on-the-go consumers seeking enhanced benefits.
- Bare to Bold Beauty: Innovations range from all-in-one and plant-based formulas to super-bold products with dramatic color or long-lasting results.
The report also found that innovation from companies of all sizes is imperative to meeting diverse consumer needs. Extra-large and large manufacturers increased their dollar contribution to 64% of all Pacesetters and increased the number of Pacesetter products from 23% in 2023 to 32% last year.
"The fluctuation around the role of company size in dominating the new product space serves as a reminder that even established brands need to think out of the box, challenge brand norms, and work to engage with different customers," Maas said. "At the same time, challenger brands continue to bring their A-game with distinct benefits, and we see younger consumers outspend on products from these companies."
The Circana 2024 New Product Pacesetters report is available exclusively from Circana, a leading advisor on the complexity of consumer behavior. The findings of this report were compiled based on insights from Circana's New Product Innovation Practice's suite of analytical and decision-making tools, as well as the 2024 Circana New Product Survey.
To download the full report, click here.