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Mazars’ Food and Beverage Industry Study Indicates Increased Sales

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.

Inspired by www.prnewswire.com

Mintel’s 2017 Global Food and Drink Industry Trends

Now that 2016 is over, it’s time to look at the food and beverage trends shaping up to make an impact in 2017. Mintel recently announced the top six trends that they believe will see fast growth this year. Check out their predictions below!

1. Traditional Processing

While our food today is made using modern processing, many people are now opting for foods made by conventional processing techniques. Companies are looking at using age-old formulation as well as classic flavors. People tend to view these foods as safe, reliable, and recognizable. This trend can be attributed to the recent rise of ancient recipes, cooking practices, and traditions that have resurfaced to incite the feeling of familiarity in the kitchen and food.

2. Plant-Based Formulation

Plant-based diets are becoming more popular, and Mintel expects this to be a huge area for growth in the industry. As a result, the food and drink industry is developing more products that emphasize using plant-based ingredients. This trend will not only be perfect for vegans and vegetarians but also flexitarians. We predict there will be an increased consumption of vegetables, fruits, seeds, nuts, grains and other botanical products.

3. Zero Food Waste

The year 2017 will be the year of the environment. But how does that relate to food? The answer is zero food waste. Today, many food manufacturers and restaurant owners want to address the growing problem of food waste. There will be an increasing awareness among people to use “ugly” produce as well as repurposing food ingredients to avoid wastage.

4. Night Shift Market

In today’s fast-paced life, many people have to work at night when we are all asleep. This lifestyle creates a new market niche for food manufacturers. Companies are developing products that are solely dedicated to nighttime workers as well as those who stay up late at night. Products such as teas made from lavender and chamomile are now introduced to night owls so that they can relax better just before their bedtime.

5. Healthy Food for Everyone

In the past years, only people from the higher income brackets could afford to eat healthily. Fortunately, 2017 will be the year when even lower-income consumers can afford to eat healthily.  2016 helped drive this change with companies like Annie’s leading the Everybunny campaign and other organizations lobbying for subsidized fruits and vegetables to keep prices low.

6. Convenient Healthy Foods

Convenience has been driving change in food for over 30 years, but the new opportunity is in creating fast, healthy foods. People want to eat food conveniently so many food and drink manufacturers are developing new ways to deliver their products faster without compromising the taste and nutritional content.

If you have noticed, the trends of 2017 revolve around the idea of eating convenient, healthy, and reliable foods. It’s not that surprising if you’ve watched the market over the past few years. It will be interesting to see which companies take advantage of these growth opportunities in 2017 and beyond.

Inspired by www.mintel.com