3 Challenges Facing the Food and Beverage Industry
The food and beverage industry is one of the oldest and most important industries in America. After all, people use this industry to get the food and the beverages that they need to sustain their very lives. However, like any other industry, the food and beverage industry can have some major challenges and obstacles for companies who operate in it.
Here are some of the top challenges facing the food and beverage industry today.
Due to the obesity epidemic in America, there has been a rising trend against the overconsumption of sugar. Also, recently the FDA has made changes that require some food and beverage product manufacturers to list “added sugar” in the nutritional panel of the product. So, now, many food and beverage companies will have to find ways to keep their products sweet tasting without adding too much sugar.
It is likely that to solve this problem, companies will have to find more natural sources for sweetening their products. This could be a significant challenge for many companies in the food and beverage industry.
In general, controlling and managing inventory in the food and beverage industry can be much more difficult than it is in other industries. The reason is because many of the products that are sold in the food and beverage industry are perishable, meaning, they can only last a certain amount of time before they go bad.
The short shelf lives of many products in this industry means that food and beverage companies have to have excellent inventory management abilities to prevent wasting large sums of money from food spoilage. Inventory management software and the use of POS systems can be extremely helpful for companies in this field to manage their inventories.
E-Commerce has been a steadily growing trend for the past decade or so. Businesses in many industries have taken advantage of this trend and capitalized on online shopping. The food and beverage industry has not taken to E-Commerce as quickly as other industries have. However, that could soon change. The reason is because many consumers have demonstrated a strong preference for online shopping.
If traditional food and beverage companies do not start ramping up their E-Commerce capabilities, then they could soon face competition from large E-Commerce giants, like Amazon, who may begin to venture into the food and beverage market. So, to keep up with the times, many food and beverage companies will probably have to start investing in E-Commerce to continue dominating the industry.