FOOD PRODUCT INNOVATIONS AND THE MAIN CONSUMER TRENDS

Abstract

Relatively slowly growing global food markets, soft demand, and ample supply make product innovations a key factor in attracting consumers attention. Consequently, in order to develop successful innovative products food producers are supposed to accurately track consumer trends. The aim of this paper is twofold. Firstly, recent developments in food product innovations and major consumer trends are contrasted in order to assess how successful food producers are in meeting new consumer demands. Secondly, gaps between the consumer trends and innovativeness of food companies are indicated. Results of the performed analyses based mainly on the data from a study by XTC World Innovation published in 2015 and literature sources suggest that considering main consumer trends food product innovations should be primary oriented towards pleasure and health.