SCOTTISH FOOD and drink businesses are to benefit from a new market insight service, backed by £10 million of Scottish Government funding.

The 'Knowledge Bank', launched by the Scotland Food and Drink Partnership, will collate the industry’s latest trends, research, consumer insights and innovations, plus a range of reports, events and bespoke insights, and offer them all for free to Scottish food and drink companies

This new service comes at a crucial time as the industry begins to recover from the rollercoaster of events of the past 18 months, and could play a pivotal role in helping Scottish food and drink businesses, of all sizes and across all sectors, to use market insight and intelligence to help differentiate their offerings in the global marketplace.

Project director, Amanda Brown, said: “The Knowledge Bank offers a collaborative and focused approach to delivering real value to businesses. Our first twelve months will include a programme of sector and market specific webinars and reports alongside some deep dives into the big opportunities in e-commerce, sustainability and the rise in consumer demand for healthy products.

"As well as our own bespoke commissioned research we will be working in partnership with intelligence companies such as IGD, Kantar WorldPanel and Nielsen," she explained. "We will be looking at market opportunities both here in the UK as well as in key and emerging export markets.

“We will be accessing data, research and intelligence from domestic and international markets and, for the first time, analysing, disseminating and supporting businesses to turn this insight into action," said Ms Brown. "This presents invaluable access to a wide range of reports and knowledge that would previously have been financially prohibitive to source for many small to medium-sized companies working in the industry.”

Rural Affairs Secretary Mairi Gougeon added that, as the sector emerges from the pandemic, the new service will help Scotland's food and drink businesses grow back stronger and greener: “Scotland’s iconic food and drink industry has seen phenomenal growth over the last decade and it continues to play a key role in our economy. Scottish food and drink producers have rightly earned a national and international reputation for quality and provenance at a time when consumers are increasingly interested in how their food is produced.

“Understanding the opportunities that are out there and having a deep understanding of the consumer trends that are here to stay is essential to sustainable business growth and future-proofing the sector which is also a major employer, often among rural communities," said Ms Gougeon.

“The Knowledge Bank will use the Recovery Plan investment from the Scottish Government to help drive strategic planning and guide better informed business decision – putting Scottish food and drink firms in an ideal position for growth.”

For further information on The Knowledge Bank, visit https://foodanddrink.scot/the-knowledge-bank/ .