Looking to learn, but in a rush? Check out our newest series on food startups—with easily digestible facts for you to learn while polishing off your morning coffee. Today, we begin with the general trends on food startups:
Bite-Sized Fact 1: Food startups can patent their ideas
The implication: While your grandmother’s cake recipe may not be patent-worthy (it wouldn’t meet the requirement of being a unique and novel creation), it is possible to patent a recipe. However, the food needs to have a “wow” factor—whether that’s high-tech food (such as 3-D printing) or food additives (such as a foaming agent) in order to be approved for a patent. You can also get the wow factor with new preparation processes, machines and packaging.
Bite-Sized Fact 2: Four in five millennials are willing to experiment with new products
The implication: Whether your startup focuses on food itself, complementary tech, or an additive, research shows that millennials are more than willing to try new products and flavors. Don’t be afraid to market new flavors or innovations to consumers—because that’s what millennials are looking to purchase in stores!
Bite-Sized Fact 3: Plant-based and non-dairy are the “hot” food terms of 2018
The implication: If you’re stuck on how to inject innovation into your food startup, look no further than the alternative dairy and plant-based food startups that are gaining popularity. Larger, legacy food companies are beginning to eye plant-based and non-dairy startups as potential targets for acquisitions, if you’re looking to start a venture that could be bought out.
Did the above trends intrigue you? Are you looking for new ways to innovate for your startup? If so, we invite you to schedule a free 30-minute call with our patent expert to explore the world of possibilities!
Wondering if your idea is patentable? Have a question about this article? We can answer all of your questions — just hit "contact us" down below!