Innovating R&D practices to adapt swiftly to market trends: Insights from the Food and Beverage Industry

Abstract

Dynamics in the food and beverage (F&B) industry have become increasingly complex and abrupt because of consumer expectations regarding health issues, nutrition facts, functionality, sensory attributes, sustainability, and lifestyles. Companies are in a constant state of experimentation, under pressure from a post-pandemic business environment to accelerate product innovation. In this context, Research & Development (R&D) processes have changed over the past years to accelerate new product launches and display a high probability of success through a deep understanding of product design, formulation, raw materials, processing, packaging, storage, distribution, shelf life, and regulatory restrictions. This chapter tackles recent and innovative R&D practices in the F&B industry from a practical perspective and a graphic model based on innovation capabilities, innovation activities, and product innovation. The results illustrate the importance of considering the technical factors involved in formulation and production and market pull requirements to adapt swiftly to market trends and even fads that consumers demand.