OTTAWA, June 11, 2014 /CNW/ - The Canadian Agri-Food Policy Institute
(CAPI) releases today several reports about supporting innovation and
creating new opportunities for food manufacturers, as part of its final
series of work about the competitiveness of Canada's largest
Three of the papers focus on the importance of investment in driving
innovation, attracting the necessary labour and skills needed in the
workforce to support innovation and targeting consumers and
differentiating food products to maintain not only a viable, but a
leading food manufacturing sector. The last report examines how some
food companies in British Columbia, specifically, are differentiating
themselves in the marketplace.
Capital Investment in Canadian Food Processing presents the connection between investment trends and economic
performance. It observes that falling investment in buildings (see
charts below) indicates falling greenfield investments. However, if
this decline can be halted and the highly positive and rising trend in
machinery and equipment continues, then this bodes well for potentially
turning around the sector's growing trade deficit (at $6.8 billion).
This paper also examines the rise in foreign investment here, which
suggests an increase in foreign ownership or control of Canadian firms.
As well, rising Canadian investment abroad signals that Canadian food
firms are investing elsewhere.
Differentiate to Compete: The Consumer Perspective explores how changing consumer and societal expectations about how food
is produced and supplied are creating tensions and opportunities for
food manufacturers. While many consumers shop for food on the basis of
price, profound shifts are underway where food purchase decisions are
based on the attributes that demonstrate "trust." The question for food
companies is how to turn such consumer interest about provenance,
ethics, sustainability and health (see diagram below) into opportunity.
Talent, Skills and People: Enabling Innovation in Food Processing comments on the importance of attracting people and the talent required
to help firms innovate. Given the sector is the largest manufacturer in
terms of employment, action is required to ensure that this sector can
attract an appropriate share of funding support in order to nurture the
skills and talent of people needed to support its growth and innovation
potential. CAPI suggests that an advisory group of specialists from
industry, NGOs and government convene to consider how best to do so.
There are many ways to differentiate and develop new economic
opportunities in the food sector. An example is touched upon in a
fourth short paper entitled Innovation and Off-Grade Food (Due to Imperfections): Drivers and
Deterrents. It provides an overview of using off-grade food among food and
beverage processors in British Columbia as a basis to introduce new
products to the marketplace.
CAPI will be publishing its final report on its processed food research
program in June 2014.
CAPI is an independent, non-partisan and non-government research
catalyst. We bring leaders together. We provide balanced perspectives.
We present strategic choices.
The analysis and reports that make up this comprehensive examination of
Canada's food manufacturing sector, and the partners that CAPI worked
with to complete this work, are available on its website www.capi-icpa.ca.
Ce communiqué de presse est disponible en FRANÇAIS
PDF available at: http://stream1.newswire.ca/media/2014/06/11/20140611_C9508_DOC_EN_41313.pdf
PDF available at: http://stream1.newswire.ca/media/2014/06/11/20140611_C9508_DOC_EN_41311.pdf
PDF available at: http://stream1.newswire.ca/media/2014/06/11/20140611_C9508_DOC_EN_41312.pdf
SOURCE: Canadian Agri-Food Policy Institute
For further information:
President & Chief Executive Officer
Canadian Agri-Food Policy Institute
(613) 232-8008 x. 221 / (866) 534-7593