NielsenIQ Unveils 2024's Top Product Innovations and Trends
NielsenIQ (NIQ), a global leader in consumer intelligence, has unveiled insightful findings highlighting the importance of innovation in driving business growth. During a recent event, NIQ BASES celebrated the achievements of brands that have introduced groundbreaking products, captivating consumers across various sectors.
Harnessing Innovation for Growth
According to findings from NIQ BASES, companies that lead in innovation in India see a significant performance boost, achieving up to four times higher velocity and twice the distribution in their initial launch year. This showcases the potential of strategic innovation in outpacing competitors.
“The modern marketplace is characterized by shifting consumer needs and unpredictable market dynamics. In this context, fostering innovation stands as a pillar for sustainable growth,” stated Vijay Udasi, Strategic Analytics & Insights Leader – India, NIQ. “True innovation is not a one-time event but a sustained strategy. Effective launches keep brands competitive and relevant, enabling them to foster consumer engagement and align with retail strategies regardless of economic hurdles.”
Key Innovation Trends Emerging
The 2024 Breakthrough Innovation report underscores pivotal opportunities within Indian markets, particularly in sectors such as FMCG and technology. These trends include:
- Health & Wellness: Products focused on low calories and gut health are gaining traction, with one in five snacks emphasizing health benefits. The trend towards mindful snacks and health-focused tech continues to grow.
- Cultural Influences: Innovations inspired by global cuisine, particularly Korean flavors, are rising, attracting consumer interest.
- Local & Sustainable Niche: There is an increasing demand for both locally sourced FMCGs and energy-efficient consumer technology designed for local requirements.
- Performance & Convenience: With increasing urbanization, consumers seek high-quality products that enhance their daily lives.
Honoring Breakthrough Innovators
The recent Breakthrough Innovation Awards recognize brands that have excelled in execution and met changing consumer demands. Award-winning products in India recorded a striking 90% increase in sales during their second year after launch, highlighting the impact of intentional innovation.
According to Vidya Sen, Executive Director, Customer Success - BASES, NielsenIQ, “The innovation landscape in India clearly signals a pathway to growth. Foods emerged as the leading category, with snacks and beverages seeing strong successes, while personal care products also made an impression.”
NIQ reports also reveal that 34% of urban consumers consider new product availability essential, with a notable 40%—especially among Gen Z and women—actively looking for innovative offerings.
Since 2012, NielsenIQ has awarded over 900 FMCG brands globally, emphasizing the importance of innovation across a range of categories, including Food & Beverages and Personal & Home Care.
2024 FMCG Breakthrough Innovation Award Winners
- CIPLA: Prolyte ORS (Mixed Fruit + Nimbu Paani Flavors)
- The Coca-Cola Company: Predator Energy Drink Gold Strike
- The Coca-Cola Company: Charged by Thums Up - Berry Bolt
- Colgate-Palmolive: Colgate Visible White O2 Toothbrush
- Dabur: Odonil Gel Pocket (Citrus Bloom, Floral Valley & Wild Forest)
- Himalaya Wellness: Himalaya Baby Massage Oil – Mustard
- Hindustan Unilever Limited: Sunsilk Hairfall Shampoo with Onion & Jojoba Oil
- Hindustan Unilever Limited: Knorr Cream of Broccoli Soup
- ITC: Savlon Powder-to-Gel Handwash
- L'Oréal: L'Oréal Paris Hyaluron 72 H Moisture Filling Range
- Perfetti Van Melle: Center Fruit Pineapple Chewing Gum
- Reckitt Benckiser: Dettol Original Pine Powder to Liquid Hand Wash
- Reckitt Benckiser: Dettol Lather Shaving Cream – Fresh - Citrus Pine
- RSH Global Pvt Ltd: Joy Fresh Mornings Shower Gel
- RSPL Limited: Pro-ease Lovingle Luxury Diaper Pants
- Tata Consumer Products Limited: Tata Coffee Grand (Classic & Premium)
- Tata Consumer Products Limited: Tata Salt Immuno
- Tata Consumer Products Limited: Tata Gluco Plus Jelly Energy Drink
Tech & Durables Breakthrough Innovation Award Winners
- POCO M6 Series 5G Smartphones
- Samsung S24 Ultra Smartphone
- Mediatek Dimensity Series
- Haier Side-by-Side (3 Door+) Refrigerators
- LG Washer Dryer
A unique segment within the awards recognizes promising launches that demonstrate strong market potentials—dubbed Wavemakers.
FMCG Breakthrough Innovation Wavemakers
- PepsiCo India: Sting Blue Current
- ITC Sunfeast YiPee Wow Masala
- Nestle India: Maggi Korean Range
- Mondelez India: CDM Silk Ganache
- Ferrero India: Kinder Schoko Bons Crispy
- Nestle India: Kit Kat - Rich Chocolate
- Nestle India: Nestle A+ Tangy Tomato Masala + Veggie Masala Millets
- PepsiCo India: Kur Kure Sizzling Hot
- ITC: Bingo Hot & Spicy (Korean 2X)
- TTK Healthcare: Eva Splash Deo Roll On
- Hindustan Unilever Limited: Indulekha Svetakutaja Oil for Dandruff Treatment
Tech & Durables Breakthrough Innovation Wavemakers
- Oppo F27 Pro+ 5G
- Acer Aspire Vero
- Vivo X Fold3 Pro
- Dyson Airstrait
- LG: 617L, French Door, MoodUP
- HP: Envy Move All in One Portable Desktop
Each winning product illustrates how NIQ BASES' guiding principles—Good Idea, Good Product, and Effective Activation—lead to impressive success stories in the marketplace.
With an extensive database of evaluated innovations and rigorous research methodologies, NIQ BASES provides brands with vital insights for product development and market strategies.
About NielsenIQ
NielsenIQ is recognized globally for its consumer intelligence solutions, providing deep insights into consumer behavior and growth strategies. The merger with GfK has enhanced NIQ's reach and capabilities, with operations spanning across numerous countries, remarkably influencing the global market landscape.
NielsenIQ continues to innovate, leveraging technology to enhance data collection and analysis, thereby positioning itself as a key partner for brands aiming to navigate the complex market environment successfully.
Frequently Asked Questions
What are the key trends highlighted by NielsenIQ for 2024?
The key trends include Health & Wellness, Cultural Influences, Local & Sustainable products, and innovations focusing on Performance & Convenience.
How do the Breakthrough Innovation Awards work?
The awards celebrate brands that have shown excellence in launching innovative products that meet evolving consumer needs effectively.
What impact does innovation have on market success according to NIQ?
NIQ indicates that innovation leads to significantly higher velocity and market presence for new products compared to category averages.
Who are some of the 2024 Breakthrough Innovation Award winners?
Winners include CIPLA, The Coca-Cola Company, Colgate-Palmolive, and Tata Consumer Products Limited, among others.
What is NIQ's mission?
NIQ aims to provide comprehensive insights into consumer behavior and support brands in their growth strategies through effective market analysis and innovative solutions.
