Mintel announced the launch of Mintel Spark, a new product concept creation tool for consumer packaged goods (CPG) brands, based on Mintel research and expert insights. It was designed to support brands’ innovation process. AI-powered mock-up images are generated based on prompts. It also allows for customization and refinement throughout the creation process.

According to Mintel Global New Products Database (GNPD), innovation is at a nearly 30-year- low*. So far in 2024**, only a third (35%) of global CPG launches were genuinely new products, while two-thirds (65%) were renovations of existing products or brands.

Matt Nelson, Mintel CEO, said: “By combining trusted Mintel expertise with AI, Spark connects the dots between consumer, innovation and market insights to reveal the opportunities with strong market potential, giving brands the confidence to move forward. The feedback from our clients has been incredible, with some calling it a data-driven shortcut to market-leading innovation. We’re excited to be partnering with so many of them to transform how brands ideate and innovate on a global scale.”

*The lowest proportion of innovation Mintel has recorded since it began tracking new products in 1996.
**January to September 2024

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