Recent Product Innovation Trends in Global Food Markets

Szczepan Figiel
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Szczepan Figiel: Institute of Agricultural and Food Economics, National Research Institute, Warsaw, Poland

International Conference on Competitiveness of Agro-food and Environmental Economy Proceedings, 2016, vol. 5, 297-305

Abstract: Food sectors all over the world are strongly driven by brand development and innovations as companies want to distinguish their products from the ones offered by competitors. In general, introducing new products into the markets they try to respond to wants and wishes of consumers whose behaviours form observable trends. However, marketing strategies of the companies should not be uniform and supposed to differ depending on the region of the world at least because of cultural differences. The goal of this paper is to analyze recent product innovation trends shaping globalized food markets in the world regions. The analysis was based on data regarding recent food trends product innovations provided by XTC World Innovation Panorama. The data was used to compare intensity of occurrence and relative importance of the 15 distinct trends in such world regions as Asia, Europe, Latin America, Middle East & North Africa, and North America. Although intensity of occurrence of the food product innovation trends was quite similar, interesting differences were found in terms of relative importance of particular trends across the world regions.

Keywords: Innovation trends; food products; global markets (search for similar items in EconPapers)
Date: 2016
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