LES Americas 2018: You need a new strategy for food innovation

April 25, 2018 | State of the Market Report

The process of innovation in the food industry as practiced today is slow and costly, relies on instinct and guesswork, and creates a vicious cycle of reactive decision making based on quickly changing consumer preferences. Legitimately new and promising ingredient discoveries are getting increasingly rare, and consumers are more frequently rejecting the new in favor of the familiar, often for irrational reasons. Rather than carry on with more budget-busting searches for the next perfect ingredient, can we get smart about innovating using existing ingredients and methods? We’ll explore a different approach to food innovation that significantly de-risks those decisions by combining data with instinct, and examine past mistakes to learn from for future success.

Coverage Areas

  • Consumer Choices in Food, Health, and Wellness
  • Food and Nutrition

Table of Contents

  • Title page

Lead Analyst

Sara Olson, Ph.D.
Research Director

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

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