State of the Market Report 2022: Food & Beverage

Benchmark your Food & Beverage business and plans for growth against your peers and compare how they navigated the pandemic disruptions. Access the 2022 report of leading Food & Beverage Manufacturers in association with Private Label Manufacturers Association (PLMA) in Australia and New Zealand.

The industry has been significantly impacted by the far-reaching influence of the COVID-19 pandemic, particularly the wide-ranging impact of the supply chain and issues around staffing availability due to illness and less staff availability.

However, the industry is optimistic around increased and changing demand for new products centered around premium choices, an emphasis on sustainability and the growing plant-based revolution.

Key market trends

One year on, businesses may have learned to live with the pandemic. However, the effect is still lingering, resulting in:

• The continuing and growing issues with the supply chain — availability, reliability and pricing
• A micro-focus on cost management and operational efficiencies
• Staffing resources, costs and availability are becoming more problematic than during the pandemic
• Responding to evolving customer trends and preferences

Investment in new technologies

The critical business initiatives outlined by survey respondents are:

• Investment in processes and technology to better manage supply chain issues
• Cost management and operational efficiencies where they can.
• Staffing — management of staff, dealing with staff availability, challenges with staffing/recruitment.
• Promoting customer value — dealing with these challenges while keeping up with increased demand.