Innovation trends in the food industry: The case of functional foods

The food industry is one of the most important branches of the national economy in Italy and in the European Union in general, playing a central role for the processing of agricultural raw materials and food supply. This industry is traditionally regarded as a sector with low research intensity; notwithstanding, innovations are recognized as an important instrument for companies belonging to the food industry in order to stand out from competitors and to satisfy consumer expectations. In this regard, functional foods play an outstanding role, as demonstrated by their increasing demand derived from the increasing cost of healthcare, the steady increase of life expectancy, and the desire of older people for improved quality of their later years. The main target of this paper is to analyze the state of the art on functional foods. For this purpose, a review of extant literature is presented. Specific emphasis is laid on the definition and the main examples of functional food. The paper concludes with comments on future trends.