Innovation is considered as one of the main elements of a company success. In recent years, it has assumed a relevant role also in the food industry that was generally defined as a rather mature and slow-going sector. The aim of this paper is to analyse the innovation models applied to the food industry and to carry out a systematic review of the literature. In particular, we overview the most relevant innovation models and identify the main thematic areas discussed in the period from 2016 to 2020. We also provide recommendations for future research directions.