A survey by leading food manufacturing expo, foodpro, found the majority of businesses are looking to make capital expenditure investments over the next 12 months.
With foodpro just around the corner on 23-26 July, organisers asked the food and beverage manufacturing industry what its priorities are for the year ahead.
With food industry resuming to pre-pandemic conditions, foodpro’s poll found more than 60 per cent were looking to invest in areas such as equipment and technology, and more than a third considering investing in processing and packaging (37 per cent).
This was by far the greatest priority followed by investment in ingredients and food additives (15 per cent) and food science and technology (13 per cent).
“Globally, the FMCG industry was one that experienced growth from 2020-2023,” said Felicity Parker, foodpro event and product manager.
“While many businesses and industries feared for survival, the biggest challenge for food and beverage manufacturing was capacity and supply.
“Here in Australia, we saw empty market shelves as a result of sea freight disruption coupled with panic and bulk buying behaviour.
“Now that the shipping lines around the world are resuming to pre-COVID frequency, and supply is beginning to catch up with demand, this survey indicates that manufacturers are getting the chance to take a breath and can now look to invest once more,” she said.
However, almost half of foodpro buyers said they were still at the information gathering stage as far as investment goes, with 84 per cent saying they would be attending foodpro this year, with the objective of sourcing new products and services.
Returning this year on 23-26 July at the Melbourne Convention and Exhibition Centre, foodpro is Australia’s largest, longest running and most trusted food manufacturing industry event, having run for the last 50 years.
Machinery and equipment innovations, which have been released and refined over the past couple of years, will be showcased for the first time in Australia at foodpro 2023.
Last held in Sydney in 2017, foodpro will be the first major event in six years where food manufacturing industry professionals in procurement and purchasing, can meet with innovators behind the products and technologies they are looking to invest in.
“With a focus on efficiency and sustainability at this year’s event, there are a host of new educational and experiential features alongside an extensive mix of exhibiting suppliers,” said Ms Parker.
“Food and beverage processing is Australia’s largest manufacturing industry and is vitally important for our manufacturing future. Face-to-face interaction is the foundation of building strong relationships, and in-person events create the necessary push for business to happen and have significant ROI implications. We are looking forward to yet another hugely successful event.”
foodpro is on 23-26 July 2023, at the Melbourne Convention and Exhibition Centre. For details visit foodproexh.com
