Food & Beverage

Although the pandemic years offered food and beverage companies immense opportunities to generate revenue given the rush to bulk purchase-and-storage by consumers. The industry is now building capacities to soften the impact on supply of raw materials for the coming years. We estimate key global trends encompassing economic crisis and food supply, packaging, transparent supply chain, sustainability and innovation in food and beverage packaging, flavours and health options though variant and fluctuating will shape the years leading to 2030 food and beverage industry. The underlying driver for major disruption includes regional political or global instabilities, energy and the impact of higher cost for raw materials.  Paradoxically such disruptions though demanding on commerce, offer exceptional revenue and expansion business opportunities for food and beverage industry.

The rise in cost of energy owing to the war in Ukraine has impacted the food industry in twofold, firstly; basic animal feed and agriculture price increase that formulates the foundation of food production. Secondly, the cost-of-living crisis is restricting consumer expenditure. The industry however, worked really hard to build preparatory capacities, resilience and flexibility during COVID-19 and the war in Ukraine to ensure food supply remain on shelf. The infrastructure remains in place and can aid in mitigating the impact of turbulence to come across the decade. The years ahead offer challenges and unprecedented opportunities, and perhaps potential past experiences may prove useful to deal with potential turbulence. Though consumer expenditure is restricted, there is ample data now suggesting food and beverage is in fact experiencing growth. Consumer demand remains, but increase in prices are offering excellent revenue opportunities. This can also be attributed to indulgence purchases and the wider range of choice made available on shelf. Innovation in packaging toward a hundred percent biodegradable plastic, new global flavours and an increasing demand for health-based options are also further contributory factors.

                Decarbonisation and reduced emission are perceived as fundamental to sustainability within the food and beverage industry. There is a general consensus that the impact on the environment ought to be soften if we are to engage in continued food and beverage production. Governments and countless pressure groups are mounting immense pressure onto the industry. While retailers want to be able to trace a product through its carbon foot print and nutritional value. It is increasingly the branding that plays a major role in persuading consumers to depart from their cash. The industry is moving toward a sustainable and transparent supply chain, 24/7 tracking of supply chain is increasing visibility, control and security. And potential technologies tracking health of food and beverage is also reducing wastage and bottom-line costs. Consumers are now paying an increasing amount of attention of the entire chain, from recycling packaging to the extent of value passed onto undeserved economies. Companies that listen and execute based on consumer demand and desire, will profit regardless of potential global disruptions.

Wevents is focused on aiding potential food and beverage solution providers with unique audiences, are you interested in assisting the industry in overcoming key challenges?