THE MODERN FOOD INDUSTRY: TRENDS, CHALLENGES, AND INNOVATIONS

Abstract

New product development and improvement of existing ones, design as the creation of new food formulations, and the production process of foodstuffs are a major challenge for modern food companies in a competitive environment, in which the ability to identify consumer preferences more accurately becomes more urgent. It is an integral part of the technological activities of the modern food industry. Creating a new kind of food product is not only a scientific but also a commercial component, in which the development of the commercial aspect is extremely important for food companies in terms of the cost of creating a technological market environment. But in planning, studying, market analysis, defining, and targeting the audience, fear is considered one of the main driving forces of economic activity in both the market and the real economy. Its role is to encourage potential buyers of a product or service from a practical point of view to avoid market failure, every company has a detailed market study that helps determine the precise market limits and specify the most important activity to achieve commercial success.