The food and beverage industry has experienced low growth in the recent years due to the economic slowdown, but this industry is expected to bounce back and reach $7,500 billion by the end of 2023. However, frequent regulatory changes about food quality, waste disposal, raw materials, and surplus production have become a real challenge to productivity.
Higher health awareness and stricter regulations have impacted the food and beverage industry since consumers have become more interested in what goes in their food, with ‘ingredient labeling’ becoming critical in the packaging process.
In addition, the food and beverage industry must have food safety testing that is fast, accurate, and that provides insightful analytical results. The combination of changing regulations and increased competition from other food and beverage manufacturers is forcing producers to pursue new manufacturing technologies as a way to reduce costs while increasing company transparency and product traceability.