4 Major Challenges That Food and Beverage Industry Should be Prepared for in 2020
Food and beverage industry has undergone a series of changes in the last decade due to the rapidly changing behaviors of consumers, technological advancements and stringent regulations. Such factors have plagued the food and beverage industry with a series of obstacles. Being a consumer-driven industry, this industry is facing serious challenges with the change in [...]READ MORE >>
Food and beverage industry has undergone a series of changes in the last decade due to the rapidly changing behaviors of consumers, technological advancements and stringent regulations. Such factors have plagued the food and beverage industry with a series of obstacles. Being a consumer-driven industry, this industry is facing serious challenges with the change in the perspective of the consumers as they have become more focused on maintaining healthy lifestyles. Today food products are judged based on not only the quality but also the nutritional value. As a result, food and beverage manufacturers need to bring about significant changes in their existing manufacturing process. In this article, our food and beverage industry experts have highlighted some of the major challenges that companies in the food and beverage industry are going to face in 2020.
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Challenges in Food and Beverage Industry
Enforcement of the plastic ban
Food and beverage companies and manufacturers are now striving toward making the food manufacturing process highly conducive to the environment by adopting numerous recycling practices. In 2020, the need for deploying green business practices right from the production to the packaging and supply chain management will become very important to tackle the current issues in the food and beverage industry.
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Stringency in the regulatory landscape
Most of the food and beverage companies adhere to the regulatory norms perfunctorily. But the consistent changes with respect to surplus production, waste disposal, quality of food, raw material, and documentation are emerging out to be major hurdles for food and beverage manufacturers. To deal with such challenges, companies in the food and beverage industry need to improve their business operations right from the manufacturing to the distribution processes.
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The pervasive presence of ecommerce
Another major challenge that the food and beverage industry is going to face in 2020 is the challenge of improving online visibility. Today consumers have become more tech-savvy and digitally informed and this has raised their expectations. Unlike ecommerce companies, food and beverage companies are still lagging when it comes to analyzing their online presence. With the emergence of the newer market, changing nature of consumer spending, and advancing technology, it is high time for companies in the food and beverage industry to focus on marketing products online. This can also help them serve their customers better and stay ahead in the competition.
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Rise of veganism
With the increasing number of consumers turning vegan, the demand for meat and other products has witnessed a significant decline. This has posed a serious challenge on the food and beverage industry. Food and beverage manufacturers today need to maintain their reputation with regards to ethical treatment of animal concern. As a result, companies have come up with meat-free alternatives to keep the retail and supply chains running.
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