Modern food industry leads to an increase of cheaper, healthier and more convenient products. In order to become competitive enough, profitable and to meet the growing demand of customer’s need of healthy and balanced food, food-processing firms develop new product continually. Contrary to the case, there is an imminent treat faced by all companies, which is the market success rate record of new products, is very low. The main objective of this study is to examine the determinants of new product market success on food processing companies and its implication to microalgae-based nutritional supplement and food commercialization in case of Bahir Dar city. Mixed research approach with descriptive and explanatory research design was employed to examine the five determinants namely technological orientation, new product development process speed and timing, promotion, distribution and food safety regulation. Purposive sampling particularly criterion sampling was adopted as a sampling method. Companies which are in operation currently, have more than five year operation experience in Bahir Dar city and the nature of the product that food-processing company produce is set as a criteria. Based on the criterion 25 food processing companies are selected. 100 questionnaires were distributed for each company general manager, marketing manager, operation manager and research and development personals. 93 questionnaires were filed appropriately and returned. Interviews were conducted selected food supplement producing company managers. The data has been analyzed using descriptive and inferential analysis techniques frequency, mean, correlation and multiple linear regression analysis supported with SPSS version 26. The result of correlation indicated all included independent variable have associate with the dependent variable and the overall result of R=.756. The study found that technological orientation, new product development process speed and timing, promotion and distribution have significant and positive impact on new product market success and food safety regulation has significant negative impact on new product market success. The model with these determinants was found to predict 56.2% of the variability of dependent variable leaving the remaining 43.8% to variables not included in this study. The researcher recommends that food processing firms should realize the effect of determinants on new product market success and draft and implement appropriate strategy.