Grassi Food & Beverage Survey Reveals Industry Poised for Growth in 2025 Despite Economic Uncertainty
NEW YORK (March 7, 2025) — Grassi, a leading provider of advisory, tax and accounting services, today announced the 2025 Food & Beverage Survey results. The survey of food and beverage executives in New York and New Jersey shows that industry leaders are optimistic despite rising interest rates and supply chain challenges, with 87% indicating they expect revenue growth in 2025.
In conjunction with the New Jersey Food Processors Association (NJFPA), Grassi surveyed 169 industry executives to assess the state of the industry, identify trends and gather key industry opportunities and challenges for 2025.
The survey shows that in 2024, 68% of food and beverage businesses experienced revenue growth, with the majority reporting gains averaging 20%—an improvement over 2023. Profitability also rose, with 56% of companies reporting increases and more than half achieving double-digit growth. Larger companies saw the most significant revenue gains, while smaller businesses with fewer than 100 employees remained relatively stagnant.
Other key takeaways from the survey include:
- 70% of survey respondents experienced increased profits of 10% or more in 2024.
- Economic uncertainty is a significant concern for 42% of respondents, while 33% are worried about high interest rates, an increase of more than 60% compared to last year’s survey.
- 83% of companies reported that they plan to increase capital spending in 2025, with over two-thirds planning to expand production lines and invest in technology.
- In 2024, 85% of respondents said they increased prices, with 46% of those companies increasing process by 3-6%.
- 95% of companies cited a lack of confidence in their ability to monitor and respond to cybersecurity events. However, 98% are either completely or somewhat confident that company data is protected.
“The food and beverage industry has demonstrated remarkable resilience and adaptability in the face of economic uncertainty and challenges,” said Robert Grote, Grassi’s Manufacturing & Distribution Practice Leader. “Our survey results indicate that businesses are taking proactive steps to navigate uncertainty while capitalizing on opportunities for growth through innovation, operational efficiencies and strategic investments.”
A complete copy of the survey report is available for download here.
