The economical growth of any country is directly related to innovation and technological development of those of its branches which have significant potential for improving the competitiveness of the national economy. In conditions of growing food crisis in many countries around the world, the importance of consideration of the possibilities for the production of high-quality food to those countries which possess the necessary capacity for this. Theoretical analysis. Analysis of the reasons hampering innovation activity of food industry enterprises in Ukraine has shown that the most powerful reasons are: lack of adequate financial resources for the implementation of innovative projects, innovative high costs of technical and technological equipment and highly qualified staff wages, the lack of a guaranteed quick return on these costs. Results. The food industry is a strategic sector for the economy of Ukraine. However, the analysis showed that it still has not been able to go to the innovative development. Proof of this are the high rates of wear and tear means of labor, a low percentage of enterprises with innovative characteristics, low level of introduction resource-saving technologies, difficulties in attracting scientific and human resources, search for new ideas. The country’s economy, and in particular its food industry needs to find sources of financing of innovative projects, settlement mechanisms for the use of credit resources, the implementation of an effective system of tax exemptions. Effective lever of accelerating scientific and technological progress in this field may be the use of the experience of developed countries on strengthening the state’s role in the innovation process. Conclusion. Food industry of Ukraine is well positioned to enhance the role of Ukraine among food producers in the world. Priority task at this stage is to intensify innovation and the transition to a higher level of technology.