With input from nearly 300 F&B professionals, the “2023 Food and Beverage Industry Report” reflects the resiliency and adaptability our community has shown over the past few years. But now that tentative supply chain stability is emerging, companies are focused on a different type of change. Instead of operating in survival mode, the industry is looking forward to the future and changing for the better.
Apart from the potential supply chain disruptions still lurking externally, many organizations are looking internally as well. According to recent survey results, 86% of professionals responsible for food production and supply chain management feel overworked to some extent—a sentiment that’s echoed across all levels of the organization. Fortunately, they’re open to discussing their top challenges and ways to overcome them.
The numbers show that more brands are accelerating their use of contract manufacturers (co-mans), investing more in new product development (NPD), and embracing digital tools to automate manual processes. After exploring the report in depth, Senior VP of Marketing & Business Development Gary Iles said, “Rather than allow market conditions to overrun their business, more food and beverage brands are taking matters into their own hands. The future looks bright for CPGs that remain focused on putting consumers first by bringing new products to market faster and more cost effectively.”