In the present study various product development trends in the food industry are reviewed with the main focus on convenience, organic and functional foods. Also highlighted are differences between the U.S. and Europe in terms of consumer habits and food supply trends. Through exploring the reasons behind differences in the extent of product innovation, the author illustrates the different role convenience products have in the US and European markets. Also revealed is the relationship linking convenience products, gluttony, and obesity. In the USA a third generation of convenience products has already appeared with the dual aim of delivering convenience and health. Although in Europe consumption “philosophy” accepts the importance of convenience, greater emphasis is placed on natural origin, freshness and traditional recipes.