Food manufacturers

Grassi and NJFPA Release 2022 Food Manufacturer Survey Results

Grassi, a leading provider of business consulting and accounting services, and the New Jersey Food Processors Association (NJFPA), a community of food and beverage businesses and service providers, announced the results of their second annual benchmarking survey of food manufacturers. This year’s survey has been expanded to include industry professionals from New Jersey and New York.

The survey, which elicited candid feedback from professionals across all sectors of the food and beverage industry, was conducted by Crain Communications in January 2022. The survey was designed to assess the state from New Jersey and New York, identifying trends over the past 12 months and collating the top industry opportunities and challenges for 2022.

The survey results were revealed today in an authoritative benchmarking report at the NJFPA’s Spring 2022 Annual Conference in Atlantic City.

  • Respondents were more than twice as likely to report that income increased in 2021, rather than decreased.
  • Three-quarters of respondents expect revenues to increase this year, while only 3% expect a decline.
  • Even among companies with flat or declining revenues, 51% plan to target new distribution channels as a growth strategy.
  • Respondents indicated that the biggest challenges in 2021 were COVID outbreaks among the workforce (59%), supply chain disruptions (53%), staff recruitment and retention (47 %) and logistics/transportation disruptions (47%).
  • The majority of companies responded to these challenges by improving customer relationships (68%), increasing workplace safety (59%), focusing on online/digital platforms (59%) and developing new products and services (55%).

“The survey results indicate a resilient industry that is seizing opportunities to improve its business even in the face of ongoing trade disruptions,” said Michele Von Deak, executive director of the NJFPA. “The information revealed by the survey paints a vivid picture of the health of the food and beverage sector in the region and offers key recommendations for its continued growth.”

“We were thrilled to partner with the NJFPA again this year to bring this valuable benchmarking tool to the food and beverage industry,” said Robert Grote, manufacturing and distribution practice leader for Grassy. “The results are consistent with what we are seeing with our high-growth customers as we help them overcome challenges through streamlining processes, diversifying supply chains, expanding into new channels and to other innovative strategies.”

For more business news, visit NYC News Now.

Related Articles: