Nowadays, the number of new food products has increased considerably. Nevertheless, not all new food products are accepted and understood by consumers, the innovations in the food sector are often not well received by the market, partly due to a phenomenon known as food neophobia. Food neophobia, a general aversion to try new or unfamiliar foods, has a major impact on preferences, selection and food product acceptability. The neophobic consumers tend to display negative attitudes and less pleasure in relation to new food products. Food neophobia is based on three main reasons for rejection of a food, such as: dislike of its sensory characteristics, fear of negative consequences of eating it, and disgust arising from the idea of the food’s nature or origin. Phobia towards the introduction of unfamiliar foods in the diet can occur for several different factors, such as: socio-demographic characteristics, education level and lifestyle, degree of urbanization, income level, arousal, personal experiences, advertising, fashion, advices of other persons, and habits. This review paper was designed to provide up-to-date relevant information on factors influencing food neophobia, like social factors, type of new food, education, and arousal. The scientific information presented here could help food scientists in new food development, and food companies to develop the best marketing strategies that lead to a general decrease in neophobic consumers’ behaviour. The application of appropriate marketing strategies may allow the product to reach a competitive advantage and be successful.