In our 2023/24 food and drink survey, we saw that 70% of businesses were either optimistic or very optimistic about future growth, despite the extensive challenges that the sector was facing. This was an increase in optimism from the previous year.   

And whilst it can sometimes be easy to dwell on the challenges, it’s important to recognise success, and we moved into 2024 with a comment from last year’s survey that reminded everyone the strength of what we have – ‘British food and drink is recognised for its quality around the world.’

So how has 2024 been, and what is at the forefront of the sector as we move into 2025? How accurate were the predictions from last year, has anything improved, have new challenges emerged and where is success coming from?

We’ve reached that time of year again where we launch our Johnston Carmichael food and drink sector survey and we seek to find answers to our questions by listening to businesses and their leaders, from across the UK.   

In terms of the uncontrollable aspects, much has continued throughout 2024. Wars and tension continues across the Globe. Economies, including our own, continue to falter and show no immediate sign of significant improvement. But as we approach the end of 2024, we now see a change of Government in the UK, as well as in the USA. So what will all of this mean for the sector?

My colleagues and I spend a lot of time with our own clients, and other stakeholders. And I continue to be struck by the determination, passion, and innovation that businesses are driving. And let’s not forget the quality. Which many of us may take for granted and often gets overlooked, set against the backdrop of rising costs and less disposable income.

What is the Johnston Carmichael annual Food & Drink Survey?

Our survey looks back on 2024 and takes a cross-sector look at the industry. It is supported by our colleagues at Santander and the Food and Drink Exporter’s Association (FDEA).

It is an opportunity for business owners, leaders and senior directors to share their experiences and highlight what their businesses went through in 2024 and are going through as we move into 2025. Providing a chance to comment on the good and the bad, against several key topics.

This year we will continue to ask about general business health, performance and profitability, innovation and funding for growth. We also continue to look at the international landscape along with our partners at FDEA, and we dig deeper into staff/recruitment and we look at the ever evolving issue of ESG/sustainability, with our friends at Santander.

Why do we do it?

With over 500 food & drink clients across the UK, we offer advice and support across several service lines, with businesses of all sizes, from small start-ups to large corporates. As advisers we are focused on understanding all the challenges and opportunities facing the industry.

The better we understand the current state of play across the food & drink industry, then the deeper our insight and more effective we can be, bringing solutions to our clients, and when appropriate, to raise in national forums (including with governments.)

Despite the challenges of 2024, there will still be success for many. So where businesses have succeeded, we want to celebrate that and help demonstrate the innovation at play.  

Why should businesses complete it?

A cross sector and cross-country response will help us establish both the financial and operational state of the industry. Every business who completes the survey will be given a copy of the final report, which will contain analysis and commentary from our food & drink network of experts.

We also hope individuals and businesses will take some comfort from completing the survey and reading about the experiences of their peers during the past 12 months and the general outlook for 2024.

In February we will have a panel debate where we will strip back the survey results and have an open conversation, discuss key aspects, and look to the future.  We hope to see you there.