ALPHARETTA, Georgia, September 19, 2023 (GLOBE NEWSWIRE) — Today, Apteana global provider of mission-critical enterprise software solutions, announced the release of its Trends and outlook for 2024 in the food and beverage sectorNorth America Report. By surveying food processors, manufacturers and distributors across North America, the research includes insightful findings on how key industry challenges are driving new trends and impacting business growth trajectories.
Rising inflation and material prices are the main concerns of 42% of companies in the food sector. Automating tasks and processes through digital transformation is emerging as a critical path to protecting growth in the face of rising costs and for those choosing to automate, the average growth rate was 20% higher than for those that rely on manual processes. The benefits of automation will continue to drive growth as 48% of companies plan to automate more processes in 2024. The study further reveals that cloud adoption in the food and beverage industry has tripled in recent years – increasing from 7% in 2021 to 24%. in 2023. As companies have migrated to the cloud, they have also reported higher revenue growth in 2022 and predict higher revenue and profit growth in the future. The cloud is also an important part of the future for those who have not yet adopted it, as the number of companies without a cloud migration plan fell from 62% in 2021 to 16% in 2023.
The study was conducted by Aptean and B2B International in August 2023. Responses came from 200 decision-makers at food processing, manufacturing and distribution companies in North America. The study identified six key trends that will shape the food industry in 2024 and these, along with the full research findings, are now available in a new report, Aptean’s Trends and outlook for 2024 in the food and beverage sectorNorth America Report.
“The food and beverage industry has experienced unprecedented disruption in recent years and 2023 was no exception,” said Sean Nappo, general manager of the Americas process business at Aptean. “As food companies continue to face inflation, rising material prices and higher operating costs, they must adapt to remain competitive. Automation and cloud adoption are essential transformation steps to drive growth in today’s market conditions.
In addition to the impact of automation and cloud adoption, the study also explored:
How Food Companies Optimize Their Businesses to Overcome Supply Chain Disruptions
Why economic goals create a business case for sustainable development
What steps are food companies taking to build their future workforce
Copies of the Trends and outlook for 2024 in the food and beverage sectorNorth America Report are now available for download.
About Aptean Aptean is a leading global provider of software specifically designed to help manufacturers and distributors effectively manage and grow their businesses. With cloud and on-premises deployment options, Aptean’s products, services and unmatched expertise help businesses of all sizes be future-ready, now.®. Aptean is headquartered in Alpharetta, Georgia, and has offices throughout North America, Europe and Asia Pacific. To learn more about Aptean and the markets we serve, visit www.aptean.com.
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