New product development (NPD) in food‐processing industries is often one element which determines whether companies are able to remain competitive in rapidly changing consumer markets. Current research suggests that well‐managed NPD should be organized as a continuous learning process. It should have strong information linkage across functions and outside the company to suppliers and customers. We examine NPD in Thailand’s food‐processing industry to determine how much it conforms (or not) to current thinking. Generally, only some multinationals and a few larger Thai companies make some attempt to integrate information from a wide knowledge base into their NPD. Even the ones that do it well by Thai standards still have some problems. Existing models of NPD are not very explicit on how information flows should be structured. From our examination of NPD in Thailand, we propose a model based on the continuous learning process in NPD. It suggests how to accumulate and integrate learning (about customers, technology, and NPD itself) across key internal functions (marketing, R&D and manufacturing).