An industry survey carried out by the research body of its members last December and just released also found that most companies planned their innovation pipeline nine to 12 months ahead.
It also identified that time (58%) and resource (60%) were the biggest barriers to innovation.
The survey found that other common drivers of innovation were a desire to target new markets (50%), reformulating for health (43%) and cost saving (38%).
More than three-quarters of respondents (78%) said they met regularly as a team to discuss their innovation pipeline.
Over a third of respondents planned their innovations up to nine months ahead and slightly more (42%) planned nine to 12 months ahead. Less than 20% planned more than one year ahead.
Almost a quarter of respondents (23%) said lack of facilities was a barrier to innovation and 17% said generating ideas was an obstacle.
While all those surveyed said their companies planned to innovate in at least one area over the next two years, only 28% said it was a top priority. Over half (55%) said innovation was in their company’s top-five priorities.
126 responses to the innovation survey
Campden BRI received 126 responses to the innovation survey from a wide range of sectors, including: ambient groceries; baked products; beers, wines and spirits; prepared convenience foods; and retailers.
The responses represented a cross-section of industry, from multinationals (39%) and large companies (19%) to medium-sized companies (25%), small companies (17%) and start-ups (<1%).
The survey forms part of Campden BRI’s consultation with its members to ensure its research and services are aligned with the needs of the food and drink industry.