Dispatches from IFT

Recession could create innovation opportunities

This content item was originally published on www.foodnavigator-usa.com, a William Reed online publication.

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Recession could create innovation opportunities
In today’s challenging economy, large companies are increasingly looking to buy innovative finished products rather than developing their own, says Blue Pacific CEO Donald Wilkes.

Caroline Scott-Thomas spoke with Wilkes at IFT in Anaheim where alongside its new berry flavor range, the company was exhibiting its finished-concept Invinity non-alcoholic wines.

Wilkes said that although publicly listed companies in particular are still improving products, they are trying to avoid any unnecessary risk, meaning that their innovations tend to be cost-driven, rather than taste-driven. This leaves an innovation gap for other companies to develop new products – even brands – on their behalf.

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