The work aims to assess the current state of innovative activity of food industry enterprises to determine its innovative potential and the effectiveness of its use in the conditions of a prolonged economic crisis. Data from the State Statistics Service of Ukraine for 2016-2020 were used since the selected number of enterprises was last updated in 2020 to achieve the goal. A study was conducted on the dynamic change in the share of innovatively active enterprises of the processing industry in the total number of enterprises, innovatively active enterprises of the food industry in the total number of enterprises, and innovatively active food enterprises in the total number of processing enterprises. The simultaneous allocation of positive changes in the value of fixed production assets, long-term biological assets, unfinished capital investments, long-term financial investments, and other non-current assets characterizes the value of non-current assets of food enterprises. An estimate of the innovation costs of food enterprises with positive shifts in the composition of R&D investments made by own forces, R&D made by other enterprises, and other innovation costs (excluding R&D) is provided. The number of innovative products (goods, services) sold by food enterprises was analyzed, with the selection of innovative products (goods, services) new for the market and innovative products (goods, services) new only for the enterprise. Changes in the number of employees involved in scientific research and development were assessed, with the specific weight of research staff (including researchers with doctorates and candidates of science degrees), technical staff and support staff allocated. The practical and analyzed steps of the management team indicate an increase in the efficiency of using the innovative potential of food industry enterprises, the result of which is an increase in innovatively active enterprises, an increase in investments in fixed and human capital, an increase in the costs of innovative research and the volume of innovative products produced and sold. Keywords: innovations, innovative potential, innovative costs, innovative products, food industry enterprises.