The Sugar Industry Innovation Symposium and Expo 2024 is focused on expanding the horizons of the sugar industry by exploring new markets and innovative products. Our eighth thematic area, "Fostering Market Diversification and Product Innovation through Youth-Led Initiatives", aims to inspire and equip young entrepreneurs to lead efforts in diversifying markets and developing innovative sugar-based products that meet evolving consumer demands. Market diversification and product innovation holds a vital role in ensuring growth and competitiveness. Product diversification involves expanding product lines by adding new components or entering new markets, which can lead to increased profitability and sales volume. Diversification into higher value-added products to adapt to changing consumer preferences and market dynamics can increase revenues for the industry and enhance its sustainability.

Problem Statement for Innovators

The Kenyan sugar industry faces challenges in tapping into new markets and developing innovative products that can compete globally. Limited market diversification and a lack of product innovation hinder the industry's growth and sustainability.

Problem Statement: "How can the youth-led initiatives participate in market diversification and product innovation in the Kenyan sugar industry to enhance competitiveness and sustainability?"

Innovators are invited to propose solutions that:

  • Develop strategies for identifying and accessing new markets for sugar and sugar-based products.
  • Create innovative, value-added products derived from sugar and its by-products.
  • Utilize consumer insights to drive product innovation that meets changing preferences and trends.
  • Foster collaboration between young entrepreneurs, researchers, and industry experts to enhance product development.
  • Provide training and resources to support young innovators in the development and marketing of new products.
  • May apply to the sugar industry beyond the proposed solutions outlined above.

Happy Innovating!