Food Industry Players Worried about 'Credit Crisis': Survey

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Food Industry Players Worried about 'Credit Crisis': Survey

Food industry insiders expressing concern over the impact of the current credit crisis -- both on their companies and on the food/beverage industry as a whole, according to a survey conducted by Clear Seas Research.

While some food execs said they believe the credit crisis will have "very little" or "no impact," most (74 percent) said they anticipate "moderate" to "great impact" on their company's business or operations.

Eighty-two percent of respondents said they believe the current economy will have a "direct impact on the overall food and beverage industry."

At the individual company level, insiders expressed concern with liquidity and their company's ability to make purchases; and 73 percent said they anticipated increased/further industry consolidation in response to current economic times.

Insiders said they expect the "foodservice" segment to be most negatively impacted by current economic conditions, while "meat/poultry/seafood" and "retail" are also expected to struggle.

For a copy of the complete results, contact [email protected] or 248-786-1625.