Within the food sector, there is so much potential opportunity for a research and development tax credit claim. An example of this could be creating a new method of preservation.
The food industry is easily worth trillions of pounds because there is pressure to adapt foods to make them healthier, gluten-free, vegan, organic etc. Needs like these can come from both food regulators and consumers causing constraints on the innovators to improve the food.
An example of this would be when you see products stating ‘New Recipe’ or ‘Now with 20% less sugar’ on supermarket shelves. This can be seen as a marketing technique, however, there will be truth behind it. It is likely that behind the scenes, there was a substantial amount of research & development into bettering the product – justifying the claims on the packaging.