Why Choose Guires's FRL as Your Food Product Development (FPD) Consultant and Partner?

There are several options in almost every product area in today’s market, and the difficulty is in coming up with unique items that stand out and connect with customers. Guires Food Research Lab (FRL) takes a holistic approach to creating food and beverage products. We define, demographically target, and build effective goods through a sequential process for category selection and comprehension. The client can visit the lab to learn the process. We offer unlimited rounds of revisions to ensure customer satisfaction. The final product prototype, along with the documentation process, including the video (through email), will be shipped to the client, and in case the client is not satisfied with the video, a food technology consultant will visit the place for the product demo at the client’s costs.

What are the different forms that you deliver the Food Product Formulations?

The food industry is witnessing a new form of consumption. Keeping that in mind, we can formulate the products in the form of ready-to-eat, ready-to-drink, ready-to-mix, ready-to-serve, and ready-to-cook food products. We use ingredients that offer an added value to the development and improve its indulgence and sustainability in terms of its functional ingredients, plant-based food dyes, and natural preservatives with a clean label.

What are the sectors Food Research Lab cover?

We cover a wide range of sectors such as soups, sauces and dips, chips, tortillas, dry beverage powder, plant-based products, masalas, puddings, instant mixes and many more.

How is sensory testing been carried out?

Our sensory examination leads to the precise formulation and recipe recommendations. We develop data-driven design models based on sensory research and customer insights. The fact-based design methodology used by Guires reduces risk and gives our clients market confidence while cutting development time in half. With our dedicated sensory lab facility, our team takes satisfaction in creating and optimizing successful products in the marketplace, generating a favourable return on investment, and developing brand advocates.

Nutraceutical Product Development Solutions|Guires FRL

How Does the Food Research Lab Aid Techno Economic Feasibility Studies (3)

21 Aug

Aiding Techno-Economic Feasibility Studies

by admin

in Blog, techno economic feasibility study

Comments

What is a techno economic feasibility study?

A techno economic feasibility study is an important step in the progress of a new product development.
A techno economic feasibility study involves analysing the monetary and technological aspects of developing a new product. It helps food and beverage manufacturers determine if their idea for a product is practical with the available resources.
Other uses of a techno economic feasibility study include risk assessment and enlisting measures that can be taken to minimise the risks associated with new product development.
In addition, a techno economic feasibility report given after conducting the study helps food businesses secure loans from investors.

What does a techno economic feasibility study consist of?

A techno economic feasibility study usually consists of the following:

An approximate measure of future sales revenue,
Requirements and costs involved in the workforce, location and infrastructure of the production plant,
The resources and investment required for the implementation of the proposed project,
An estimate of the cost of new product development that includes the cost of raw materials, overheads, utilities, etc., and

Risks that can be incurred in the process.

How does the Food Research Lab help with techno economic feasibility study?

In this age of changing consumer preferences and rapid technological advancements, partnerships and collaboration with the Food Research Lab for techno economic feasibility study helps the food and beverage industries increase their profits and minimise the risks associated with new product development.

The following points highlight how Food Research Lab helps with techno economic feasibility studies: .

Ingredient selection

The team in the Food Research Lab has the expertise and resources to help businesses select ingredients for developing innovative food, beverage, nutraceutical and cosmeceutical products. The team specialises in various ingredients like functional food ingredients, sugar replacers, fat replacers, flavours, proteins, and cosmeceutical ingredients like niacinamide, ubiquinone, aloe vera and witch hazel, to name a few. The team also analyses ingredients and identifies the most economical ones that meet quality standards.

Process Optimisation

The Food Research Lab team helps in the process optimisation process by conducting techno economic feasibility studies. The team helps identify optimised conditions that minimise costs and maximise output by analysing process efficiency, resource utilisation and potential challenges, thereby helping the production process to be more economical.

Quality Assurance

Product quality and shelf life are critical for a product to be successful. Food scientists in the Food Research Lab conduct multiple rounds of quality checks, sensory evaluation and nutritional analysis, ensuring quality. By conducting shelf life studies of the products, food scientists can determine the product longevity and optimise packaging methods keeping the process economical. These methods help reduce waste and costs associated with product wastage.

Cost analysis

Cost analysis is a critical component of techno-economic feasibility studies. The Food Research Lab has the instruments and knowledge to methodically assess the costs of production, raw materials, packaging, and distribution. Cost assessments can also be done across different scales of production, revealing insights into costs of the production scale and their impact on overall costs.

Risk mitigation

The developed products must abide by stringent regulations and safety standards. The Food Research Lab helps industries to conform to the regulations related to ingredients, processes, product labelling, and packaging. Therefore, the risks of non-compliance and subsequent product recall can be averted, which can adversely affect the brand image and the market value of the business.

Decision making

The team helps businesses make informed decisions about product development, considering the available resources and costs, which helps them maximise profits and minimise losses from product development [1].

Conclusion

Techno economic feasibility studies are a crucial part of product development, which analyses the technical and economic implications of developing a product. The Food Research Lab serves as an integral partner for conducting techno economic feasibility studies. The team helps in the process of techno economic feasibility studies through ingredient selection, efficiency enhancement and cost optimisation, quality assurance, cost analysis, risk mitigation and decision-making, ensuring the businesses help develop quality products at a reasonable cost.

How the Food Research Lab can help

We comprise a team of food scientists and technologists offering techno economic feasibility studies. We also provide techno economic feasibility reports that help businesses make informed decisions regarding the economic aspects of product development. In addition, we assist businesses to minimise loss by adhering to regulations and studying and optimising the shelf life of the products, preventing product recall and wastage, and guaranteeing the overall success of the products.