However, these gains are weighed against the rising costs of labor and healthcare, which are anticipated to rise by 5% and 11%, respectively. Both large and small companies also identified new regulations related to The FDA Food Safety Modernization Act as a top external concern.
“The dynamic nature of the food & beverage industry continues to challenge organizations looking for growth,” said Louis J. Biscotti, Partner, who leads the Food & Beverage Practice. “Through this survey, we’re pleased to provide executives with comprehensive insight into potential industry drivers and best practices to stay ahead of the competition.”
The survey delved into areas including performance, planning, and challenges facing food and beverage companies. In addition, the survey addressed how they are adapting to changing consumer trends, proposed government regulations, new companies entering the field, and new product and service offerings. Where applicable, responses were sorted by firm size, providing more nuanced insights into industry trends. Survey participants included manufacturers and wholesalers/distributors which represents a range of annual sales volumes from $1 million or less to more than $500 million.
The WeiserMazars Annual U.S. Food & Beverage Industry Study illuminates the ways that companies remain competitive and approach challenges, providing a valuable resource for all members of the industry. To see the entire study, click on WeiserMazars’ 2016 Food & Beverage Industry Study or visit www.WeiserMazars.com.
About WeiserMazars LLP
WeiserMazars LLP provides insight and specialized experience in accounting, tax, and advisory services. Since 1921, our skilled professionals have leveraged technical expertise and industry familiarity to create customized solutions to overcome client challenges. As the independent U.S. member firm of Mazars Group, we have a global reach of 17,000 professionals in more than 75 countries. Locally and internationally, we build lasting relationships with our clients by addressing their particular needs, creating value and optimizing their organizational performance. For more information visit us at www.weisermazars.com.
For more information, contact:
Beth More, 732-205-2012
Glori Perez, 212-508-9653
Kiki Tarkhan O’Keeffe, 212-508-9679
SOURCE WeiserMazars LLP