Problem setting. The food industry of Ukraine holds a unique position among other industries, as it is one of the backbone elements of the national economy, is in the top five industries in terms of filling the state budget, ranks second in terms of production in the structure of industrial production in Ukraine, providing one of the highest growth rates of production volumes among other sectors of the economy.
Recent research and publications analysis. Such topic is the subject of countless scientific studies. In particular, the food industry development and its modernization directions were considered in the scholarly works of a number of scientists, including: V. Antoniuk, M. Berdar, O. Hubar, A. Hulei, O. Kovalenko, P. Kupchak, L. Nazarova, L. Pashniuk, O. Pylypenko, O. Semenenko, O. Sheremet, etc.
Highlighting previously unsettled parts of the general problem. At the same time, it is required more thorough research of the issues related to highlighting the priority and importance of the food industry in the context of sustainable development of Ukraine, competitiveness and innovation, activation of integration and globalization processes, general analysis and prospects for the development of food industry enterprises in domestic and foreign markets.
The purpose of the article is to determine the current potential for food industry functioning in Ukraine and substantiate the prospects for its modernization in the context of sustainable development.
Paper main body. The main vectors of our research are based on the four most important, in our opinion, opportunities of the food industry in Ukraine: the competitiveness of the industry; potential in accordance with internal and external modernization processes; innovations in the food industry market; perspectives in the context of the sustainable development goals.
It should be noted that competitiveness in the food industry is influenced by many factors, among which are: technical and economic (these are processes and phenomena of the macro-, meso- and microlevels that affect the parameters and indicators of the economic efficiency of food industry entities); financial and economic, embodied in factors affecting the level of financial parameters and indicators on the activities of food industry entities); socio-economic (which form a system of phenomena that affect the level of labor productivity in the food industry, taking into account the level of material wellbeing of workers, their efficiency, competence, etc.); environmental and economic (due to phenomena and processes that determine the impact of the environmental situation, the level of greening technology and production in modern economic conditions).
Modernization measures also require the enabling of national system harmonization of technical regulation and standards in the food industry production with European and international norms (HACCP, TSO, EN, Codex Alimentarius), as well as encouraging food industry enterprises to implement European production standards and quality and food safety management systems.
For the implementation of modern market strategies, innovations are important, concerning, in particular, a special foresight platform, a strategic controlling system, as well as technological platforms in the areas of biotechnology. The combination of different directions and vectors of innovation in the food industry requires a certain balance and the use of a holistic systematic approach, rethinking many fundamental provisions of socio-economic development, and defining a specific activities plan.
Conclusions of the research and prospects for further studies. Determining the developmental character of the food industry in Ukraine, it ought to be remarked its multi-vector nature, corresponding to the competitiveness of the industry, potential in accordance with internal and external modernization processes, innovations and sustainable development goals. These elements may serve as guidelines for the future research prospects in this direction.
The modernization processes of the food industry development presuppose appropriate resources and potential, which is largely associated with the actualization of the government institution role in these processes, both at the national and regional (local) levels. In the context of sustainable development, the prospects for reforming the industry should be focused on the balance, sustainability and innovativeness of the activities of industrial enterprises, as well as be accompanied by profound socio-economic transformations, which is impossible without active government support.
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