Food, Agribusiness and Beverage

Industry Overview

Food, Agribusiness and Beverage

The Race is On to Address Rising Risks and Capture New Opportunities

From rising prices to climate change to shifting geopolitics and consumer habits, organizations in the food, agribusiness and beverage sector operate in an increasingly complex and challenging world.

Simply put, meeting food security needs for a growing global population is getting harder, meaning businesses must set new standards in agility and innovation to capitalize on opportunities in a turbulent era of volatility.

Rapidly re-evaluating operations and strategies around established and clearly-defined risks — as well as newer evolving and emerging risks — will enable the industry to sustain the lives of people across the world.

Businesses also have an opportunity to protect access to human and financial capital with better, long-term thinking and decisions around environmental and social factors. Ethical collaboration, seeking diverse ideas to drive innovation, while increasing workforce and cyber resilience will strengthen businesses to grow — making sustainable change across the industry possible.

Top 5 Future Risks

Looking ahead to 2024, predicted risks for the food, agribusiness and beverage industry include:

  • 01

    Commodity Price Risk / Scarcity of Materials

    The global commodity market continues to suffer from wild mood swings following the pandemic.

  • 02

    Cyber Attacks / Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

  • 03

    Economic Slowdown / Slow Recovery

    Despite a fast economic rebound from the initial depths of the pandemic, uncertainty, fueled by inflation, rising interest rates and bank closures, still reigns.

  • 04

    Business Interruption

    Previously, clients planned for isolated events. We now know business interruption can be systemic across an entire organization.

  • 05

    Pandemic Risk / Health Crises

    While Covid-19 brought pandemic risk into sharp relief for all, other viral threats continue to loom, including bird flu, Ebola, SARS, MERS and Zika.

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Climate Change Challenges for the Food, Agribusiness and Beverage Industry

Across the food, agribusiness and beverage industry, companies are examining sustainable solutions and environmentally friendly practices to ensure a resilient future.

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Navigating Volatility

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