The world is emerging from the pandemic into a period of growth and recovery – shadowed by political instability.
- So how are these events landing in shopping baskets and on tables?
- Where are the biggest opportunities for the food and beverage industry?
- And what risks and challenges are businesses looking out for over the next few years?
To find answers to these questions, we surveyed key decision makers in companies across the globe, from food production and processing to brewing and soft drinks.
Survey sample and methodology
Our survey was carried out by our research partner, Coleman Parkes, in January-February 2022 using phone-to-web methodology.
We received 250 responses from global senior executives in leading food and beverage companies globally.
Key findings
The lessons of Covid are being turned into opportunities
Businesses transformed themselves to adapt in the pandemic. Now, as the world reopens, they are looking to maximise the potential from these changes – 45% said continuing with adaptations, such as automation and digitalization, were among their greatest opportunities.
Challenges to address risks over next 3 to 5 years
geopolitical factors at 60% and external regulatory factors at 50%. Followed by lack of board buy-in at 45%
Businesses are prioritising stability and resilience
Senior executives named stabilising the business (41%), as their top priority over the next two years, ranking this well above growth.
Businesses are also focusing on resilience – 97% have a formal process for business continuity planning, 63% of which are linked to corporate KPIs.
Companies are optimistic about the future
Despite the challenges of the last two years and ongoing headwinds, 70% of food and beverage organisations are optimistic that the sector will be more profitable over the next two years.
Organic is the key food trend
Organic foods topped our list of greatest business opportunities over the next two years at 48%. Vegan and vegetarian diets (30%) are seen as less beneficial globally.