Inflation and interest rates have risen faster than initially expected
Global economic growth forecasts have weakened
Profitability is challenged due to rising input costs
Workforce talent continues to be an issue
Food and beverage manufacturers remain well positioned amid challenging conditions, and the outlook remains positive.
Sales projected to grow and remain strong
Food and beverage manufacturing sales have increased 12% during the first half of 2022. Sales growth is expected to slow into Q4 as inflationary pressures ease, global economic growth moderates and Canadian consumer savings dwindle. We project sales to increase 6% in the second half, finishing the year up 9% (Table 1)... Read More
A lot has changed since our 2022 Food and Beverage Reports earlier this year: