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The phrase "generate new demand" is correct and usable in written English.
It can be used in contexts related to marketing, business strategy, or economics when discussing ways to create interest or need for a product or service.
Example: "Our marketing campaign aims to generate new demand for our latest product line by targeting younger consumers."
Alternatives: "create additional demand" or "stimulate fresh demand."
Exact(2)
They thereby generate new demand, or a new way of exploiting an existing market.
By advancing subprime loans to middle- and working-class families who could not afford them, Inland Empire homebuilders were able to generate new demand for their homes in a market that would otherwise have been saturated.
Similar(57)
Substitute workers may be able to provide equal quality care, yet the impact on costs depends on a number of factors, including whether substitutes answer previously unmet patient needs or, instead, generate new demands for care.
In other words, by providing a better product faster, the company is generating new demand.
It is possible that, once NHS 111 is a national service with a higher profile, demand for the service could change either by generating new demand or by people using it as an alternative to in-hours primary care, or a combination of both.
New jobs and new skills are rising, as technology, demographic and global climate change generates new demands.
This increases demand, which would generate new businesses — creating yet more jobs and more tax to fund public services.
LCDS imposition on the power system in the WAPP is expected to generate new regulations and rules (bureaucracy) that may demand new or modified organizational structures for implementation.
To meet demand for the procedures and generate new sales, some defibrillator makers have started programs to teach the procedure to doctors who are not electrophysiologists.
However, the differentiation of regulation should also require complementary processes that generate new functions of genes as a response to specific demands.
The employment of millions of workers will also stimulate purchasing power and generate new business opportunities and additional employment to serve increased consumer demand.
More suggestions(3)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com