Growing Food & Beverage (F&B) companies are not constrained by geographical boundaries. They chase profits and revenues around the world, wherever market-entry risks are manageable.
But even when all signals point to going global, F&B executives face an array of challenges. These include geopolitical uncertainty; distribution and logistics limitations for perishable goods; food safety regulations that vary by country, region, state or province; and a tireless battle for shelf space.
Capitalising on international F&B efforts requires innovation and adaptation of processes, products and strategies. Successful companies:
- tailor their products, packaging and messaging to the cultures and lifestyles of their destination markets
- explore local market dynamics, competitors and distribution channels in those areas
- identify the most profitable product opportunities
- build an informed picture of potential pitfalls
- have a clear understanding of regulatory requirements in every jurisdiction in which they operate
- understand the mind-sets of partners and build long lasting, profitable relationships
Working with dynamic, growing, global F&B companies has allowed Grant Thornton member firms to gain valuable insight into international expansion. This guide aims to help you develop smart, profitable expansion plans while minimising risks.