The food processing industry outlook for 2023 tells us that most companies are focusing on adopting cutting-edge technologies to increase efficiency and meet the rising demand for high-quality processed foods. With consumer preferences evolving, the industry is poised to undergo significant transformations to address nutritional needs, safety standards, and sustainability concerns while leveraging opportunities for growth and development.
Food Processing Industry Currently Experiences Growth, But Also Some Challenges
The food processing industry continues to experience significant growth. To handle that growth, organizations are spending more time evaluating existing conveyor solutions, determining the need for new conveyor technologies, and selecting the best system for their specific needs. An important part of the evaluation process is to get an industry perspective on the top challenges facing the food processing industry and how that may impact your short and long-term plans. These challenges may include:
- Economic disruption,
- Supply chain issues,
- Product shortages,
- Shifts in consumer demand and preferences,
- Changing regulations and compliance.
Commissioned by Cablevey Conveyors, Ascend2, an independent research firm, conducted a research study in October 2022. Titled Evaluating and Implementing New Conveyor Systems, the 16-page study asked 290 food processing professionals in the United Kingdom and the United States to provide their insight on critical considerations when evaluating industrial conveyor systems.
What Are the Top Challenges the Food Processing Industry Is Currently Facing?
Cablevey Conveyors conducted two research studies in 2022 and tracked the top challenges to provide industry leaders with trends to help with planning. In our October study, over half (53%) of those surveyed reported that economic disruption is a top challenge facing the food processing industry, and another 49% reported that product shortages threaten the industry as a whole.
Notably, these current challenges have become more prevalent in the last year. Reports of economic disruption are up 66% from a study conducted in February of 2022, while reports of product shortages have seen a 25% increase from February 2022. Supply chain issues continue to be an important area to monitor. Issues relating to the supply chain have seen a slight decrease since the February study but remain among the top challenges facing the industry, according to 48% of those surveyed.
How Much Are Companies Budgeting for Conveying Equipment These Days?
We also wanted to find out how budgets for conveyor engineering and maintenance are changing in the next 12 months. The data shows that budgets are increasing for industrial conveyor systems and maintenance in the year ahead. 82% of those surveyed report their budgets will increase in the next 12 months, with 28% describing this increase as significant.
A Comparison of US vs. UK Budget Growths
Another comparison we conducted was the budget growth of the US vs. UK companies. US companies are experiencing a larger budget growth than the UK ones. This is both in significant budget growth (32% US vs. 18% UK) and budget decrease (US 6% vs. UK 23%).
The UK has various distinctions in our research data, including a budget, challenges, priorities, and overall conveying selection process. If a specific UK data point is not highlighted in this report, feel free to contact the Cablevey team to get the information that you need.
Get a Better Insight Into the Food Processing Industry
If you’re interested in learning more about the trends and challenges of the food processing industry that await us in 2023, feel free to check out our study, Evaluating and Implementing New Conveyor Systems, for better insight.
Improve Your Production Process in 2023 – Contact Cablevey Conveyors
In the journey to optimize your production process, choosing the right conveyor system is crucial. Our offerings are engineered with precision, ensuring that your materials are conveyed with the utmost care. Step into a world where efficiency, safety, and innovation meet.
Whether you need traditional conveyor belts or a tubular conveying system, your enhanced productivity and product integrity are our priority. Don’t settle for less – join the myriad of satisfied customers who have elevated their processing operations with Cablevey Conveyors. Contact us for the best conveyor systems on the market – your optimal solution awaits!
What Are the Key Trends Shaping the Food Processing Industry Outlook in 2023?
The 2023 outlook is marked by innovation, sustainability, and technology. Companies are adopting advanced technologies to increase efficiency and meet the demand for quality processed foods. With evolving consumer preferences, the industry is transforming to address nutritional needs, safety, and sustainability, indicating a phase of growth and development amidst challenges like economic disruption and supply chain issues.
What Challenges Is the Food Processing Industry Currently Facing According to the Study By Cablevey Conveyors?
According to a study by Cablevey Conveyors, the industry faces challenges like economic disruption, reported by 53% of surveyed professionals, and product shortages, noted by 49%. Supply chain issues are also a concern for 48% of respondents. These challenges have grown, with economic disruption reports increasing by 66% and product shortage reports rising by 25% since February 2022, impacting the industry’s growth and efficiency.
How Are Budgets for Conveyor Engineering and Maintenance Expected to Change in the Upcoming Year?
Budgets for conveyor engineering and maintenance are on the rise. According to the study, 82% of surveyed professionals anticipate an increase in budgets in the next 12 months, with 28% expecting a significant increase. This trend underscores the growing focus on enhancing efficiency and safety in the conveyance of food products in the processing industry.
Is There a Difference in Budget Growth for Conveyor Systems Between US and UK Companies?
Yes, US companies are experiencing more budget growth compared to their UK counterparts. The study highlights that 32% of US companies reported significant budget growth, against 18% in the UK. Conversely, 23% of UK companies experienced a budget decrease, compared to 6% in the US, pointing to regional variations in investment in conveyor technologies.
How Can Cablevey Conveyors Assist in Improving the Food Processing Production Process in 2023?
Cablevey Conveyors offers precision-engineered conveyor systems to optimize the production process. These systems ensure gentle, efficient, and safe conveyance of materials, addressing challenges of product integrity and productivity. As the industry evolves, partnering with Cablevey Conveyors provides access to innovative solutions tailored to meet the specific needs of food processing companies amidst changing trends and challenges.