Food industry 2023: A mix of optimism and caution

As 2023 draws to a close, the latest CBS figures predict an intriguing period for the food industry. Optimism is at its peak, with nearly a quarter of entrepreneurs anticipating a rise in production between September and November. However, the majority (70%) remain cautious, expecting steady production levels.

When it comes to pricing, stability appears to be the keyword. A staggering 80% of entrepreneurs believe that the selling prices will remain unchanged in the upcoming months. This is the highest proportion expressing this sentiment this year.

Consistency in orders

The order status in September provided business owners ample reason for confidence, boasting a backlog of 2.9 months of work. Still, a few (14%) felt that this order volume was insufficient, while the vast majority (79%) deemed it standard.

Workforce expansion on the horizon

The food industry seems poised for growth, especially in terms of workforce. 13% of entrepreneurs are considering expanding their teams in the following months. In contrast, a mere 7% plan on downsizing.

Economic outlook

Opinions on the economy are mixed. While a reassuring 85% predict a steady economic climate in the months to come, a small segment (11%) foresees a downturn. An even smaller percentage, 4%, holds a more optimistic view, hoping for an upturn.