Study shows food & beverage companies anticipate substantial sales increase for third consecutive year
The top trends predicted to drive sales growth are private label foods, healthy/nutritious foods and organic foods.
Most food and beverage companies anticipate a significant increase in sales this year, for the third consecutive year, according to the “Mazars 2018 Food & Beverage Industry Study Results Report,” released by Mazars USA LLP, New York.
2018 was projected to be a very strong year of growth for the food and beverage industry, with 90% of survey respondents expecting growth in sales, 84% in profit and 69% in employment. The factors most likely to influence sales growth were new customers, improved sales performance and new products, which remain virtually unchanged from 2017. The top trends predicted to drive sales growth are private label foods, healthy/nutritious foods and organic foods. The top internal concern for participants was increasing sales, with the top external concerns being rising commodity costs, food safety/traceability, and quality assurance.