Troy, Mich., Oct. 16 - In a survey conducted by Clear Seas Research on October 13th, food industry insiders expressed concern over the impact of the current credit crisis -- both on their companies and on the food/beverage industry as a whole.
While some believe the credit crisis will have "very little" or "no impact," most (74%) anticipate "moderate" to "great impact" on their company's business/operations.
On a macro-level, most (82%) believe that the current economy will have a "direct impact on the overall food and beverage industry." At the individual company level, insiders express concern with liquidity (daily working capital) and their company's ability to make purchases; a majority (73%) anticipate increased/further industry consolidation in response to current economic times.
Insiders expect the "foodservice" segment to be most negatively impacted by current economic conditions, while "meat/poultry/seafood" and "retail" are also expected to struggle.