Mazars, a leading accounting, tax, and consulting services firm, released its annual Food & Beverage Industry Study Results Report. The report indicates that food and beverage companies are predicting a significant sales increase in 2017 for the second year in a row. Study participants included manufacturers, distributors, restaurateurs, and retailers with sales between $1 million or less and $500 million or more.
What are Companies Projecting for 2017?
Participants in the survey are expecting some significant increases in sales and profits for 2017 with an increase of 21% over 2016 sales numbers and a 16% increase in net profits. Of the 200 companies surveyed, most attributed growth to industry trends favoring private label and healthy/nutritious foods.
The study provides executives in the industry with a ton of information on performance, planning, and challenges facing food and beverage companies. The study also took a deep look at changing consumer trends, proposed regulations, emerging companies, and new products.
Mazars Report Projects Increased Sales Due to Changing Consumer Trends
One of the biggest drivers of increased sales in 2017 is changing consumer trends. Consumers are starting to settle into a more healthy lifestyle, so nutritious foods are going to be critical for growth. Companies have been adapting to these changes over the past few years, and believe they have finally caught up.
It will be interesting to see if sales meet the expectations that executives are projecting in the Mazars Report.
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