INNOVATIVE ACTIVITY AND ECONOMIC EFFICIENCY OF THE FOOD INDUSTRY ENTERPRISES OF UKRAINE
INNOVATIVE ACTIVITY AND ECONOMIC EFFICIENCY OF THE FOOD INDUSTRY ENTERPRISES OF UKRAINE

Summary/Abstract: The development and implementation of innovations in the food industry and the production of modern food products at the current stage is a key factor in progress in the field of quality of life, one of the components of which is the balanced and caloric nutrition of the population. It has been established that, in this regard, Ukraine is significantly behind the EU countries in terms of the main parameters: production and sale of products new to the market, costs for innovation, the share of innovatively active enterprises, etc. Therefore, according to ratings agencies, it is in the group of "slow innovators" or outsiders. In order to radically change the situation, research has established that it is necessary to significantly increase funding in the innovation field, expand scientific research, development of innovative products and modern technologies, production of the latest equipment and a network of innovatively active enterprises with the aim of increasing the production of innovative products. The production activity of food industry enterprises is measured by natural and economic indicators, and therefore it is appropriate to analyze it in the time period from 2015, that is, when the agrarian crisis was in full swing, and in the following years, its consequences were overcome and noticeable progress in development took place. It was established that the production of food products doubled in value, and the profitability of production was clearly divided into two periods: the first two years were unprofitable, and the profitability was relatively low, but the following were characterized by profitability and increased profitability. A noticeable decrease in profitability was observed at the end of the studied period and this is explained by the crisis that was provoked under the influence of the coronavirus epidemic.

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