Food & Drink Industry Report 2017
Scottish food and drink firms are going for growth and plan to enter new export markets, increase investment and create new jobs, according to our latest survey of the sector.
The report found that firms plan to invest more in their business than this time last year and have ambitious growth ambitions. A fifth of Scottish firms said they plan to export for the first time in the next five years, with businesses targeting new international customers both in and outside of the EU.
Bank of Scotland’s sixth annual study, which surveyed producers and manufacturers of alcohol, fresh produce and food and drink products, is produced to support the industry with insight into the opportunities and challenges faced by the nation’s food and drink sector.
Key findings include:
- The sector looks set to create 18,000 new jobs over the next five years
- Firms plan to invest 59% of current annual turnover in their business over the next five years up from 56% last year
- 21% of firms plan to export for the first time in the next five years
- 26% are targeting new international customers outside of the EU.
Read our report to find out more about the success of Scotland’s food and drink industry, the challenges the sector faces and the pivotal role our producers play in helping build a sustainable economy.