The Thai food industry is amongst the most dynamic and diverse in the world. Continual innovation in the form of new product development is critical to this industry, and yet new products are more likely to fail than succeed. In this paper,we investigate factors explaining both the rate of new product development as well as the rate of success in products newly introduced into the market, using data from a survey of firms. The methodology involves a Poisson regression to investigate the determinants of innovation and a Least Squares regression to explain success rates in innovation.