2024 FOOD INDUSTRY AUDIT REPORT

Back to business
as unusual

Ideagen: 2024 Food industry audit report - Back to business as unusual / 1

Contents
About this report ............................................................................. 3

Introduction .......................................................................................4

Top 10 risks ......................................................................................... 5

New risks for 2024 ............................................................................ 7

Ecological risks .................................................................................8

Supply chain risks ............................................................................ 9

Product safety risks ....................................................................... 10

Reputational risk ............................................................................. 11

Bigger businesses see greater risk............................................12

Conclusion.........................................................................................13

Appendix........................................................................................... 14

Methodology ................................................................................... 15

References ....................................................................................... 15
About this report
The food and beverage industry is under greater pressure
than ever. The risks faced by businesses are constantly
growing and shifting. This report aims to illustrate which
urgent, short-term challenges are crowding out strategic
issues. Armed with this insight, boards can take stock of
whether their focus is in the right place.
It draws on findings from the risk and uncertainty
statements of food and beverage businesses ranging
from small independents to large global brands and
compares the findings to those pre-pandemic (2018)
and the previous 12 months.
This provides a powerful overview of the sector
based on its own words. Ideagen has uncovered and
ranked 45 risks in order of importance based on the
percentage of firms that mentioned them.

Highlights
 Finance focus: commodity inflation comes 1st (75%)

 Crises pass: Brexit and COVID-19 drop out of the top 10

 Conflict is a worry: Ukraine enters at 10th (29%)

 Ecological strain: combined climate risks make it a top 10 issue

 Global disruption: supply chain concerns have doubled for larger businesses (38%)

 Authenticity and integrity languish: product safety stays 11th (25%)

 Trust issues: reputation rises to 23rd (12%)

 Big business is risky: 34 of 45 risk factors more prominent for larger firms

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Introduction

The food and beverage industry has come through the seemingly
short-term shocks of the pandemic and Brexit to face a new world of
uncertainty characterized by global unrest, high costs, growing competition,
reputational issues, regulatory risks, and a laser focus on dealing
with the planet’s health.

In 2024, COVID-19 and Brexit have
plummeted out of the top 10. This means
the top risks for 2024 look similar to those
of 2018, with a major focus on finances.
Commodity inflation, currency, credit and
liquidity are the top four. The same as in 2018
– although in a different order. But does this
mean it’s back to business as usual?
Far from it.
Because the world can never go back to
how it was. New challenges have arisen,
including Ukraine, a new entrant now placed
10th in the rankings (the conflict in Gaza
and the challenges of crossing the Red Sea
and Suez Canal fall outside the timeframe
covered in our analysis). Combined
ecological risks are also a huge issue. Their
cumulative impact is undeniable. Overall,
this paints a picture of ‘back to business
as unusual.’
In this context of continued instability,
consumers are unsure of their long-term
spending power and how far their food
budget might stretch from week to week.
This means retailers and food manufacturers
have got the unenviable job of trying to
balance the books, which either brings
increased costs for customers
or ‘shrinkflation’.
This might explain significant shifts in other The following sections delve deeper into the
risks too. Competition has shot up five details of these changes.
places to fifth while reputation has moved
up the same amount, from 28th to 23rd
place, reclaiming some of the relevance it
had in 2018, when it ranked 17th.
Importantly,
regulatory risks now
feature in ninth place,
having languished below the top
10 in previous years.

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Top 10 risks
The four highest ranking risks for businesses in The Ukraine conflict is the big new
2024 are finance related, mirroring the results of
entrant into the top 10 mentioned
2018 and signaling a return to long-term trends.
by 29% of all businesses.
Commodity inflation is the biggest risk for all
businesses, being mentioned by 75%. It’s affected
larger organizations most (those with turnover The big new entrant to the top 10 is Ukraine in tenth place. It’s referenced by
greater than £250m), noted by 80%. This is 29% of all businesses, with larger companies feeling the pressure more. Nearly
unsurprising given the International Monetary two-fifths (38%) of them mention it. Ukraine and commodity inflation go hand-
Fund put global inflation at 6.8% in 2023i, in-hand, with academics pointing out that, “The Russian-Ukraine war had a
significantly above many central bank targetsii. negative effect on equity markets while leading to a surge in agricultural food
commoditiesiii.” It’s worth remembering that Ukraine has long been hailed as the
breadbasket of Europeiv.

COVID-19 and Brexit have disappeared from the top 10. Rated first and third in
Percentage of businesses saying commodity inflation is a risk 2023, they’re in 15th and 13th places respectively in 2024. COVID-19 is particularly
notable for its fall, dropping 14 places, called out by just 21% of businesses
Overall Large Mid-sized Small (down 4%).

This is unsurprising in relation to COVID-19. According to The Centre for

25% 20% 24%
30% International Governance Innovation, “Vaccines work, herd immunity levels have
been attained in some parts of the world, and so infection rates, and with them
morbidity and mortality rates, have dropped from their peaks in early 2021
75% 76% 70% and 2022v.”
80%
It’s not clear why Brexit is less of a worry. Reports suggest its negative impact
Yes No Yes No Yes No Yes No continues, with the UK economy estimated to be almost £140 billion smaller
because of the country’s exit from the EUvi. Furthermore, new border rules are still
on the way. From April 30, 2024, there are new checks on medium-risk animal

Ideagen: 2024 Food industry audit report - Back to business as unusual / 5

products, plants, plant products and high-risk food and
feed of non-animal origin into the UK from the EUvii.
One reason for Brexit’s fall in the rankings might be that
more than four years on, businesses simply accept it as a
new reality.
Highest risers in 2024 were competition and reputation,
the latter of which didn’t make the top 10 (but is covered
in detail later in this report). And customer risk also grew in
importance, mentioned by 33% of businesses compared to
29% in 2023 – an increase even though it’s fallen one place
in the overall ranking. The interrelation of these three factors
is significant. A reputational crisis can drive customers to
the competition. Equally, failure to meet customer demands
effectively (supply chain or quality issues particularly)
impacts reputation.
It’s interesting to see that while cited by more businesses,
these strategic, long-term risks are being pushed down the
tables by other short-term issues. Customer centricity is a
key factor for success in today’s business landscapeviii.
It should arguably be more prominent.

2018 top 10 2023 top 10 2024 top 10

Rank Risk % Rank Risk % Rank Risk %

1 Credit 61% 1 COVID 61% 1 Commodity inflation 75% 1

2 Currency 57% 2 Commodity inflation 60% 2 Currency 56% 2

3 Commodity inflation 53% 3 Brexit 52% 3 Credit 55% 2

4 Liquidity 45% 4 Currency 47% 4 Liquidity 46% 2

5 Interest rate 35% 5 Credit 37% 5 Competition 43% 4

6 Competitors 29% 6 Liquidity 31% 6 Supply chain 38% 2

7 Supply chain 25% 7 Customers 29% 7 Interest rate 37% 3

8 Customers 25% 8 Supply chain 29% 8 Customers 33% 1

9 Product safety 17% 9 Competitors 27% 9 Regulatory 32% 2

10 People 16% 10 Interest rate 27% 10 Ukraine 29% New

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New risks for 2024
This year marks a surge in new risks. While
in many ways the top 10 reflects a return to
normality, scratch under the surface and these
new risks show it’s anything but. While Ukraine
is the big new entrant, others include major
incidents (ranked 18th), non-commodity inflation
(ranked 19th), labor shortages/costs (ranked
20th) and climate change (ranked 21st).
Non-commodity inflation entering the
rankings (mentioned by 16% of businesses) is
understandable given the eye-watering inflation
rates globallyix. However, major incident risk is a
worrying entrant, perhaps reflecting the general
heightened tensions of an unstable world and
increased cyber attacksx.
of business leaders around the world have it as a risk with 8% calling it out.
experienced a labor shortage in the year to
February 2024xi. This industry is probably more closely tied to consumer
behavior than any other and therefore understands the
These shortages have been caused by a impact of recessionary forces. It deals in a commodity
reduction in those willing or able to work, we quite literally cannot survive without, but history
inflexibility from employers, reduced migration, has shown consumers will compromise choices over
low unemployment rates, a lack of skills and cost when necessary. This learning has given the sector
aging populationsxii. However, this appears to excellent foresight, with both Japan and the UK falling
be less of a concern to smaller firms (those with into recession in February 2024 (after this research was
turnover between £20m and £100m) with only undertaken) joining Finland and Irelandxiii.
4% reporting it as a risk.
There’s another new entrant to be aware of: New risks for 2024
recession, ranked in 29th place and referenced
by 5% of all businesses. Medium-sized Overall Overall £100m - £20m -
Risk > £250m
businesses (those with turnover between rank percentage £250m £100m

Current labor statistics suggest two-thirds £100m and £250m) are more likely to see Ukraine 10 29% 38% 34% 14%
Major incident 18 17% 28% 14% 8%
Inflation (non-commodity) 19 16% 22% 16% 10%
Labor shortage/cost 20 15% 20% 22% 4%
Climate change 21 14% 24% 14% 4%
Recession 29 5% 4% 8% 4%
Making an appearance in the Medium-sized businesses are M&A 32 3% 6% 0% 2%
rankings for the first time, more concerned about the ESG commitments 33 2% 4% 0% 2%
Asset valuation/impairment 34 1% 4% 0% 0%
labor shortages or costs impact of recession Taxation 35 1% 0% 4% 0%
are alluded to by 15% of on their ability Insurance 39 1% 2% 0% 0%
businesses overall. to survive. Section 172 40 1% 2% 0% 0%
Capacity 41 1% 0% 0% 2%
Internal controls 42 1% 2% 0% 0%

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Ecological risks Climate related risk

The wellbeing of the planet has now become a throughout the worldxvii. As PwC points out, “The
major pressing issue for businesses. In fact, cereal global food and beverage industry is particularly
12%
crops and other commodities including olives vulnerable to the consequences of
Combined 42%
and tomatoes were seriously hit by European climate changexviii.” environmental
heatwaves in 2023xiv. 58%

60%
This is reflected in the findings of this report. In last 0%
year’s Food industry audit report, environmental of all Climate change 0%
businesses,
risks were mentioned by 15% of businesses, 14%
weather by 10% and sustainability by 9%. Because
regardless of size, report environmental
this is a growing area of concern, new categories or climate related risks as a concern. 1%
of risk have been added to 2024’s research. Weather 10%
That means weather is now mentioned by 18%, 18%
climate change is specifically stated by 14%, With this in mind, 48% of businesses mention at
environmental risk by 11% and sustainability by 5%. least one of the risks related to the planet, which 1%
would put the combined group in fourth place. If Environmental 15%
Generally, it’s the larger organizations who flag we do the same for large businesses, it adds up 11%
these issues. This could be down to their global to 74%, making it the second biggest overall risk.
operations, with longer supply chains and higher 3%
emissions. It might also be a result of a host of We expect this continued focus to escalate. Sustainability 9%
new ESG reporting standards and expectations At the time of writing, Copernicus, the Earth 5%
that have arisen in the past 12 months. This observation component of the EU’s space
undoubtedly sharpens their focus, although small program, has just announced that February 2024 6%
businesses are equally under pressure to reportxv. was the hottest February globally on record with Disease 8%
the UK and Australia and parts of the US also 9%
But it’s not just regulation that drives this risk. It’s reporting record levels of rainfall in Marchxix. This
plain to see that the climate is shifting. Scientists has led to food producers reporting catastrophic 0% 10% 20% 30% 40% 50% 60%
tell us 2023 was the warmest on recordxvi and it’s loss of certain crops. And nearly all evidence
affecting what crops can be grown in the UK and 2018 2023 2024
points to further rises ahead.

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Supply chain risks
Supply chain risk continues to feature in the top 10,
in sixth place, up two places since 2023.
It’s cited by 38% of businesses this year compared
to just 29% in 2023 and 25% in 2018. It’s increasingly
worrying the sector.
What’s more, the challenges keep coming. With
30% of global container trade transiting through
the Suez Canal, the Red Sea shipping crisis is
upending global supply chains, according to J.P.
Morganxxi. However, this only began impacting
trade in October 2023, pointing to other reasons
for worry, such as the US-China trade war and live
conflicts around the globe.

Supply chain risk is cited Beyond conflict, “Supply chains are becoming
by 38% of businesses this increasingly complex and organizations should aim
year compared to just

38%
to become more resilient in the face of increased
29% last year and 25%
pre COVID. bottlenecks,” according to the Business Continuity
Institutexxii. The global membership association also
points out that, “Inflation has significantly affected Supply chain risk for
supply chains in various industries recently.” The large corporations
According to the World Economic Forum’s Global need to ensure sustainable supply chains and has almost doubled.
Risk Report 2024, of 20 major risks, three are heightened cyber threats are also an issuexxiii.
specifically about supply chains. Namely, disrupted
supply chains for critical goods and resources,
disrupted supply chains for food, and disrupted
Interestingly, the increase in supply chain as a
risk has been driven by larger businesses where
26%
rising to 46%
supply chains for energyxx. it’s almost doubled. It was mentioned by 46%,
compared to 36% for medium-sized companies
And it’s no surprise. Recent years have been and 32% for smaller firms. In 2023, just 24% of large
Supply chain Supply chain
extremely challenging owing to the pandemic, businesses saw supply chain as a risk. This stark
Ukraine and an unstable global political landscape. increase is perhaps owing to the global nature of risk is growing £100m - £20m -
> £250m Overall
These factors have left an indelible mark, putting £250m £100m
their operations and purchasing, which is more
businesses and regulators under pressure to likely to be affected by worldwide unrest. 2024 46% 36% 32% 38%
react and adjust their operating models to better 2023 24% 40% 22% 29%
prepare for disruption and risks. 2018 36% 24% 16% 25%

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 Product safety risks
Arguably, product safety is the single
most important issue the food and
beverage sector faces. The Food and
Drink Federation, the UK’s industry
body, says, “Ensuring food is safe is
paramountxxiv.” Which seems at odds
with the fact that product safety risk isn’t
in the top 10. This year, it’s in 11th place,
the same position as 2023, a fall from
2018, when it was in ninth place.
In our experience, businesses do see
it as a huge priority, and indeed for
businesses with more than £250m
turnover it’s gone from 24% in 2018 to
40% in 2024. But overall, it’s mentioned
by fewer companies. Perhaps it’s simply
being pushed down the rankings by
more urgent short-term issues?
Or being managed well through
new technology investments?
UK businesses may not see product
For businesses with more
safety as worthy of being in the top 10
than £250m turnover,
food safety concerns because they’re handling it well. Media
reports show that 2023 saw the lowest
have risen from
40%
number of Food Standards Agency
24% to in (FSA) product recalls since prior to 2017.
in 2018 2024 However, there’s been a spike in the USxxv.
Regardless of product recall statistics,
businesses might want to think about
recalibrating their view of the risk.
According to the US Food and Drug
Administration (FDA), food fraud affects
1% of the global food industry at a cost
of about $10-$15 billion a year, although
some more recent expert estimates put
the cost as high as $40 billion a yearxxvi.
With this in mind, it’s worrying that fraud
risk (whether that’s food, financial or any
other type) has dropped eight places to
31st in the risk tables, mentioned by just
3% of businesses.
And consumers want it to have a bigger
focus. Ideagen’s 2023 research report,
‘Building trust in uncertain times’,
revealed more than a third of consumers
said the quality of products and services
was more important than 12 months ago.
For Gen Z and millennials, this demand
> £250m
2018 24%
2023 32%
2024 40%
Ideagen: 2024 Food industry audit report - Back to business as unusual / 10
for quality is even greater, with over half
(54%) of 18–24-year-olds putting more
emphasis on it than a year ago.
This is especially true in a post-Brexit
world. Professor Chris Elliott who
chaired the government inquiry into the
horsemeat scandal told The Guardian
in April 2023 that, “We have lost a lot
of control over the food we consume,
particularly food produced outside
the UK. There is now no sharing of
intelligence on fraud that is happening
or suspected to be happening on
mainland Europe.” Some companies,
such as soft drinks producer Britvicxxvii,
have leveraged technology to mitigate
food fraud risks which according to
David Holt, their Head of Supplier
Assurance, also becomes more prevalent
with commodity price rises.
Product safety
£100m - £20m -
Overall
£250m £100m
16% 10% 17%
30% 18% 27%
20% 16% 25%
Reputational risk
Product safety and quality build trust. And trust along with
a great brand and competitive pricing build reputation over
time. There are few sectors that understand this more than
the food and beverage industry which has had to recover
from past scandals such as BSE or horsemeat. Businesses are
very aware that reputations can be destroyed in seconds.
Which is why it was a surprising finding in last year’s report
that not a single business listed reputation as a risk.
While there weren’t any food safety brand crises in the past
12 months to rival those of the past, a new reputational risk,
linked to the geopolitical climate emerged. In November
2023, the Competition and Markets Authority (CMA) accused
some large food brands of unjustified prices risesxxviii. Some
even called it “greedflation”xxix. This is perhaps why reputation
has shot up the rankings by five places to 23rd. Despite this,
only 12% of all businesses registered it as a risk this year.
Arguably, it needs greater prominence. As Ideagen’s CEO,
Ben Dorks, said in the 2024 Trends report, “In an era of
heightened scrutiny, trust has become an invaluable asset
for any business, and even more so for those operating in
regulated or high-compliance industries.”

‘Reputation’ has shot up the

rankings by

5 places
to 23rd in our ‘Risk table’ -
see page 14.

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Bigger businesses see greater risk
Of all 45 risk factors measured in 2024, large
businesses were generally more likely to mention
risks than their medium or smaller counterparts. In
total, 34 of the risks were more prominent in their
reports. A similar, although less pronounced trend,
can be seen in 2023 and 2018.
This could mean one of two things. That larger
businesses are more switched on to risks than
others and therefore capable of mitigating them.
Or perhaps more likely, that larger businesses
are more risk averse and favor marginal
improvements, a point made by
Harvard Business Reviewxxx.
Whatever the reasoning, if a risk is identified or
not, there’s a job to be done. Namely, to minimize
it, strengthen compliance and keep people safe.

up 1 up 2 up 2 up 2 up 5 up 2 up 2 down 1 up 4 New
90%

80%

70%

60%

50%

40%

30%

20%

10%

0%
3. Credit 4. Liquidity 5. Competition 6. Supply chain 7. Interest rate 8. Customers 9. Regulatory 10. Ukraine

> £250m £100m - £250m £20m - £100m Overall

Ideagen: 2024 Food industry audit report - Back to business as unusual / 12

Conclusion
2024 is clearly going to be a year of business as
unusual. Some short-term crises have passed, and
others have replaced them, while ecological issues
of global significance continue to cause concern.
It’s also interesting to note that many of
the threats the industry is preparing for are
intertwined. The costs of raw ingredients is
increasing the risk of food fraud. Geopolitics and
the environment is continuing to impact supply
chains, and therefore it’s perhaps no surprise that
these risks are growing in tandem.
However, the challenge of remaining solvent is still
front and center, meaning long-term, strategic
issues of vital importance specifically to the food
and beverage industry are being crowded out.
The assurance of product safety, the need to
combat food fraud and customer centricity are
all things that matter both to the industry and
consumers, but a lot of energy is being consumed
by macroeconomic matters.
innovation to mitigate risks and forecast
future challenges.
The industry needs to constantly review and
recalibrate its focus on what’s most important
and there will be many that argue this is nothing
new. The sector has been adapting and evolving
for centuries. But the reality is, a lot has changed.
Food producers and retailers find themselves in
a highly unusual, uncertain world, balancing their
own liquidity against affordability and availability
for consumers, and all the time hyper aware of the
risks to reputation.
It's very difficult to grow healthy produce on rocky
ground, a metaphor clearly not lost on
this industry.

Climate continues to be a growing concern,

There isfor
particularly stilllarger
a lot companies
of noise distracting
and it’s one Find out more about Ideagen solutions
focus from what the sector does
that isn’t going to go away any time soon. best. support for the food and
Which is to ensure everyone beverage industry.
That said, the industry has a long
can be fed and watered
history of adaptability
safely and sustainably.of agility
and is embracing technology and Find out more

Ideagen: 2024 Food industry audit report - Back to business as unusual / 13

Appendix
2024

£100m - £20m -
Risk Rank Change > £250m Overall
£250m £100m

Commodity inflation 1 Up 1 80% 76% 70% 75%

Currency/Exchange rate 2 Up 2 52% 58% 58% 56%

Credit 3 Up 2 50% 72% 44% 55%

Liquidity 4 Up 2 54% 46% 38% 46%

Competition 5 Up 5 52% 62% 14% 43%

Supply chain 6 Up 2 46% 36% 32% 38%

Interest rate 7 Up 2 38% 34% 38% 37%

Customers 8 Down 1 38% 42% 18% 33%

Regulatory 9 Up 4 42% 30% 24% 32%

Ukraine 10 New 38% 34% 14% 29%

Product safety 11 No change 40% 20% 16% 25%

People 12 No change 38% 24% 14% 25%

Brexit 13 Down 10 22% 32% 22% 25%

Health & safety 14 No change 32% 22% 12% 22%

COVID-19 15 Down 14 18% 28% 18% 21%

Cybersecurity 16 No change 36% 16% 4% 19%

Weather 17 No change 22% 16% 16% 18%

Major incident 18 New 28% 14% 8% 17%

Inflation (non-commodity) 19 New 22% 16% 10% 16%

Labor shortage/cost? 20 New 20% 22% 4% 15%

Climate change 21 New 24% 14% 4% 14%

IT/Equipment failure 22 Down 2 26% 12% 4% 14%

Reputation 23 Up 5 20% 8% 8% 12%

Environmental 24 Down 9 18% 8% 6% 11%

Disease 25 Down 6 14% 10% 4% 9%

Pension 26 Down 4 10% 6% 6% 7%

Ethical 27 Down 6 6% 6% 4% 5%

Sustainability 28 Down 10 10% 2% 4% 5%

Recession 29 New 4% 8% 4% 5%

Contracts 30 Down 5 8% 4% 2% 5%

Fraud 31 Down 8 10% 0% 0% 3%

M&A 32 New 6% 0% 2% 3%

ESG commitments 33 New 4% 0% 2% 2%

Asset valuation/impairment 34 New 4% 0% 0% 1%

Taxation 35 New 0% 4% 0% 1%

Strategy 36 Down 9 2% 0% 0% 1%

Own failure 37 Down 11 2% 0% 0% 1%

Seasonal 38 Down 8 0% 0% 2% 1%

Insurance 39 New 2% 0% 0% 1%

Section 172 40 New 2% 0% 0% 1%

Capacity 41 New 0% 0% 2% 1%

Internal controls 42 New 2% 0% 0% 1%

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Methodology
To accurately map trends and year-on-year comparisons, we used the same sample
of companies and compared how they evaluated their business risks at the end of 2023
compared to 2018 and 2022.
The original sample was collated by segmenting the food and drink market into three tiers:
businesses with turnover in excess of £250 million, those in the £100-£250 million bracket, and
those with turnover between £20-£100 million. 50 firms were randomly chosen from each
tier, giving a total sample of 150 food and drink businesses. We accessed each company’s
published accounts, lodged with Companies House and accessible on the organization’s
website, to extract the risks considered most important for each enterprise in their Risks and
Uncertainties statement.
Since the original report in 2018, two companies have ceased trading and these have been
replaced with similar companies of the same size. Three companies were late filing reports. 29
companies moved into a higher earnings bracket in 2023, 14 companies moved down.
The final version of this report presents you with the results from this survey, a comparison
with the results achieved in 2018 and 2022 and how it correlates with the results from other
Ideagen consumer and industry research data.
References
i. IMF, World Economic Outlook
ii. Bank of England, Inflation and the 2% target
iii. Bhadra, M., Gul, M.J. & Choi, G.S. Implications of war on the food, beverage, and tobacco industry in South
iv. Yahoo!finance, Why Ukraine Is Historically Known As The Breadbasket Of Europe
v. CIGI, What Has the World Learned from COVID-19? So Far, Not Nearly Enough
vi. London Assembly, New report reveals UK economy is almost £140billion smaller because of Brexit
vii. Cabinet Office, The Border Target Operating Model: August 2023
viii. Forbes, Why Customer Centricity Is A Key To Long-Term Success
ix. IMF, World Economic Outlook
x. Armis, Cybersecurity Attack Attempts More Than Doubled, Increasing 104% in 2023
xi. Randstad, Why is there a global labor shortage?
xii. Randstad, Why is there a global labor shortage?
xiii. Business Day, These 4 countries are currently in recession in 2024
xiv. The Grocer, Cereal crops decimated by Europe’s heatwave
xv. European Commission, Corporate sustainability reporting
xvi. Met Office, 2023: The warmest year on record globally
xvii. Euronews, Climate change is affecting what foods can be grown in the UK: This farmer is adapting
xviii. PwC, Climate change and the food industry
xix. European Commission, Surface air temperature for February 2024
xx. WEF, Global Risks Report 2024
xxi. J.P. Morgan, What are the impacts of the Red Sea shipping crisis?
xxii. BCI, What does supply chain resilience mean in 2024?
xxiii. BCI, What does supply chain resilience mean in 2024?
xxiv. Food and Drink Federation, About the Food and Drink Federation
xxv. Food Manufacture, Global food recalls 2023: How the UK compared
xxvi. U.S. Food and Drug Administration, Economically Motivated Adulteration (Food Fraud)
xxvii. How Britvic protects its products, customers and brand reputation against food fraud
xxviii. The Standard, Grocery brands accused of unjustified price rises
xxix. Just Food, Kraft Heinz, ADM among accused in ‘greedflation’ report
xxx. Harvard Business Review, Your Company Is Too Risk-Averse
Ideagen: 2024 Food industry audit report - Back to business as unusual / 15
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