According to global consulting firm WTW, 48% of the world’s food and beverage companies cite business interruption as the biggest internal risk to their success. Supply chain risks come in next at 40%.
Managing turbulence and potential disruption has become standard practice in the food sector, fueled by global instability, conflict, climate change, and the cost-of-living crisis. More than 41% of companies cited improving liquidity as a top strategic goal for the next two years, ensuring they have the financial resources to weather further shocks. Other priorities include cost reduction (38%) and business stabilization (35%).
However, companies increasingly doubt their ability to keep up with rapidly changing consumer preferences: 36% see this as a risk.
Despite these challenges, food companies are actively working to improve sustainability. Almost half (47%) review their business continuity plans every six months, and 31% do so quarterly.