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THE global food and beverage market is forecast to rise to reach approximately $5,776 billion in 2017and Asia must continue to strengthen its position to meet rising demand for food and ensure food security amidst complexities and challenges faced in the region.
Megatrends in macroeconomics, consumption behaviour, regulation and technology are forming at a faster pace and in more fragmented ways, and are critical to driving the food and beverage industry. Fi Asia-MEGAtrends 2013 conference will address some of these topics on September 11th in Bangkok.
Pablo Perversi, vice president - Foods SEAA, Unilever, one of the speakers at MEGAtrends 2013, notes, that while the food and beverage industry will perform well given that number of people that need to eat continues to increase due to the population growth and urbanisation, challenges will remain. “Not everyone will do well as only those with well-positioned and trusted brands that respect existing trends will survive the choices that consumers make every day. Margins will be difficult as recession will intensify the competition and the value equations which consumers will have to make,” Mr Perversi noted.
Another speaker, Krishna Mohan Suri, Research, Development and Quality head - Asia Gum & Candy, Mondelez International, also commented, "In general, the industry continues to contend with a number of internal and external challenges. The people talent quality is perhaps the largest common internal factor. In a world of high interdependence, industry needs to be on its feet to manage the 'butterfly effect.' Trade and regulatory policies or some contamination issue in one part of the world can create high stress. Reliability and quality assurance of supplies is a key external challenge. Complexity of regulatory environment is another key external challenge that industry needs to manage."
