Since 1998, the team has participated in the launch of more than 50 new product concepts and is working on several additional concepts for 2001. They also use market research to help partners develop products consumers want. Finally, the team helps coordinate sales and marketing efforts from cooking instructions and packaging to public relations to help facilitate market success. Beef industry profits currently come from less than one-third of the total beef carcass, principally from ground beef and steaks. Through new product development, this two-thirds can be used to create products that offer consumers new conveniences, different flavors and a better eating experience.
Producers also benefit from more value for their cattle.
There is significant opportunity for the beef industry to realize increased profit potential of ground beef through value-added product lines. There s no question the ubiquitous boneless, skinless chicken breast has captured an important place on America s dinner table. A beef equivalent that can rival the chicken breast in terms of convenience, ease and speed of preparation and proportionality presents a significant growth opportunity for beef. In addition, if the beef equivalent could be created using the chuck and round, it could help add value to the product. As consumers demand more portable food options, finger foods such as chicken nuggets have realized great success in both the foodservice and retail channels.