Healthy snacks fastest growing food product in New York, according to a new survey.
The poll found that 58% of the 80 New York food and beverage industry executives questioned said that food group was the at top of the list for expected growth.
Anchin Block & Anchin, an accounting firm, conducted the poll.
The survey also concluded that the industry sales are expected to increase by 12% next year.
“Overall, companies are optimistic about continued sales growth but we urge leaders to be mindful of the cost of this growth and that not all new sales are worth chasing,” said Greg Wank, chairman of the accounting firm’s food-and-beverage services group.
“Retailers forecast more modest growth and all this growth is expected to come from new locations as grocery price deflation weighs on companies in this sector,” he added.
The survey also found that the biggest perceived threat to profitability is “discounting and sales incentives,” with 28% of respondents citing that category as their largest economic fear. By contrast, only 5% of those questioned said they feared “regulatory compliance” would cut into their bottom line.
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