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2022 Food and Beverage Report: Mid-year update

Reference: FCC

A lot has changed since our 2022 Food and Beverage Reports earlier this year:
  • 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