NEW YORK, Sept. 6, 2017 /PRNewswire/ -- According to the annual Mazars 2017 Food & Beverage Industry Study Results Report, released by Mazars USA LLP, a leading accounting, tax and consulting services firm, most food and beverage companies anticipate a significant increase in sales this year for the second consecutive year.
Survey participants are confident sales will increase 21% compared to 2016 and project net profits will rise by 16%. Respondents – which were drawn from over 200 companies across the food and beverage industry – attributed this growth prediction to secular industry trends currently favoring both private label and healthy/nutritious foods.
"The dynamic nature of the food & beverage industry continues to challenge organizations looking for growth," said Louis J. Biscotti, Partner, who leads the Food & Beverage Practice. "Through this survey, we're pleased to provide executives with comprehensive insight into potential industry drivers and best practices to stay ahead of the competition."
The survey delved into areas including performance, planning, and challenges facing food and beverage companies. In addition, the survey addressed how they are adapting to changing consumer trends, proposed government regulations, new companies entering the field, and new product and service offerings. Responses were sorted by firm size, providing even more nuanced insights into industry trends where applicable. Survey participants included manufacturers, wholesalers/distributors, restaurateurs and retailers/supermarkets which represent a range of annual sales volumes from $1 million or less to more than $500 million.
The Mazars 2017 Food & Beverage Industry Study Results Report illuminates the ways that companies remain competitive and approach challenges, providing a valuable resource for all members of the industry. To see the entire study, click on Mazars' 2017 Food & Beverage Industry Study Results Report or visit www.MazarsUSA.com.
Lou Biscotti and Brian Todd, President and CEO of The Food Institute will be discussing the results tomorrow, September 7th, 2017 via webcast at 11:00 AM EDT.
About Mazars USA LLP
Mazars USA LLP provides insight and specialized skills in accounting, auditing, tax, consulting and advisory services. Since 1921, our dedicated professionals have leveraged technical industry expertise to develop customized solutions for clients, create value, and optimize their performance. As the independent U.S. member firm of Mazars Group, our global reach includes 18,000+ professionals across 79+ countries. At local and global levels, we are proud of our value-added services in building lasting relationships with our clients and communities. For more information, visit us at www.mazarsusa.com.
For more information, contact:
Mazars USA LLP
Beth More, 732-205-2012
Glori Perez, 212-508-9653
SOURCE Mazars USA LLP