Sweeter outlook for food and beverage manufacturers

Even the “recession-proof” food and beverage industry has not been immune to the effects of the downturn. Despite the economic environment, the glass is half full for many food and beverage manufacturers, according to the latest installment of Fast Facts on Food Processing. The majority (81%) expect profits to increase in 2010, a sizable jump from the 69% who expected profit growth in 2009. More than half (52%) plan to increase staffing this year, and nearly one-third (32%) report that their operations and financial performance are already back at pre-recession levels or better.

However, food and beverage manufacturers are also preparing for the continued effects of the recession. With anticipated increases in ingredient pricing and energy costs, many are looking for ways to tighten their belts – a lesson learned by in the past few years. Respondents are also working to correct operational weaknesses exposed by the recession, streamline operations and explore outsourcing options. Faring better in 2010, the first survey in the series, examines how food and beverage manufacturers performed in 2009, their outlook for the year ahead and what they see as ingredients for future success. Learn more >>>