Food Science Industries
Research and development has become a major factor in the productivity and growth of the food industry business due to consumer demands for fresher products that are made without artificial colors or flavors, and are free of preservatives, hydrogenated fats, or GMOs.
As time has progressed, newly developed processes and products have improved the health and expiration date of certain foods, which has qualified more companies for R&D tax credits.
Qualifying research activities include
- Improving a food product’s flavor, texture, or shelf life
- Developing packaging with improved shelf life, or product quality
- Producing cooking trials in a test kitchen
- Evaluating formulations to meet specific nutritional parameters
- Improving food manufacturing processes to reduce waste and prevent the possibility of food borne illnesses
The R&D credit is a great incentive for food science companies to develop new or improved products, processes, or formulations to meet the growing demands from consumers.