Last year was practically a layup in terms of making relatively accurate predictions. Continued concerns about the economy, an upcoming presidential election, narrow profit margins but relatively strong consumer demand made calling that F&B manufacturers would invest in their existing facilities rather simple. Healthier-for-you, spicy and pet foods being popular? Check, check and check. Yay for us! What was definitely not on our 2024 bingo card were the food safety issues that brought the industry under greater public scrutiny. We’re not going to predict that CPGs are going to pay extra attention to food safety in the coming year because that’s just too easy. What do we think this year has in store? These are our thoughts.
Kelley Rodriguez commented during a recent episode of the FOOD ENGINEERING Podcast recapping 2024 that she read a report stating that mergers and acquisitions were “soft” throughout the year. While we don’t keep tight tabs on M&A, per se, we do stay on the lookout. Clearly one of the more surprising occurrences last year was the Mars acquisition of Kellanova. (Our hats off to you if you were on the outside of that situation but did see it coming.) But like with the Mars-Kellanova merger, there may be a few surprises around the corner—and it has to do with the incoming U.S. presidential administration.