Survey shows improvement on the horizon

August 25, 2009
/ Print / Reprints /
/ Text Size+

Senior executives in the food and beverage industry are optimistic about improved revenue, profitability and a better jobs picture in 2010, according to a recent survey conducted by KPMG LLP, New York.
The survey focused on the food and beverage industry specifically, and found 72 percent of executives said they expect business conditions to improve in 2010 with 72 percent also expecting stronger revenue, and 65 percent expecting improved profitability. However, 48 percent of the food and beverage executives believe the U.S. economy as a whole could take as long as 2011 or later to substantially recover.
Overall, 86 percent of food and beverage executives see an improving jobs picture in their sector in 2010, with 54 percent saying it would be stable and 32 percent saying it would be better than 2009. Nearly half of respondents said they had already instituted headcount reductions and only 22 percent were contemplating further such actions.
“These survey results show a cautiously optimistic outlook from industry execs, even as the underlying volatility in the food and beverage sector — based on companies wrestling with the sting of higher costs, shrinking consumer spending, and working capital constraint — continues to develop,” said KPMG's Patrick Dolan “With the food and beverage industry in the midst of potentially disruptive change — led by accelerating technological, social and economic shifts — the executives surveyed are still upbeat about their future, though much hard work remains.”
The KPMG survey also asked food and beverage executives to indicate if their strategic focus was now on investing for growth or cutting costs. Almost two-thirds said they were investing, while 37 percent said they were still focused on cost cutting.

 Did you enjoy this article? Click here to subscribe to Beverage Industry.  

You must login or register in order to post a comment.



Image Galleries

Dinner with Tequila Don Julio

Diageo is taking its Tequila Don Julio brand on the road this summer with a rolling Airstream Speakeasy mobile craft cocktail bar. The team stopped in Chicago on July 29 to share some specialty tequila cocktails paired with food from Chicago restaurants Honey Butter Fried Chicken and The Radler as well as dessert venues Black Dog Gelato and Baker Miller. (Photos by Jennifer Haderspeck)

9/17/14 2:00 pm EDT

The Path to New Product Success: Navigating the latest trends for new beverage development

By attending this webinar, you will learn about the top trends and how they fit into the CPG market, which channels are influencing new products and technology, how Packaging fits into your product development, and ways you can use innovation to increase sales.


Maintaining beverage dispensing equipment

Iuliana Nita, Saint-Gobain Performance Plastics global marketing manager of food and beverage, offers her insights about ensuring sanitary performance of beverage dispensing equipment in foodservice applications. She also will offer some tips about choosing the right kind of tubing to handle acidic beverages.

Beverage Industry Magazine

BI September 2014 cover

2014 September

The September 2014 Beverage Industry includes a cover story on our Wholesaler of the Year, The Odom Corp., as well as articles about single-cup and iced coffees, cconvenience store growth, vegetable flavors, and more. Check it out today!

Table Of Contents Subscribe

Beverage Insider eNewsletter

Are you an Insider? Subscribe to Beverage Industry’s weekly e-newsletter to receive news headlines, new product information and magazine highlights.   

Coffee Segments

Which coffee segment will be impacted the most by coffee bean increases?
View Results Poll Archive


Cleaning-in-Place: Dairy, Food and Beverage Operations, 3rd Edition

This book addresses the principles of cleaning operations, water supply issues and the science of detergents and disinfectants.

More Products


Beverage Industry Webinars are an easy, effective and convenient way to get educated and informed on the latest industry trends and topics. All Webinars are FREE unless indicated. For more information, check out our Events page!


facebook40 twitter    youtubelinkedgoogle+ icon 40px