• Food and Drink Research Report

  • Scotland’s food and drink sector looks set to build on the momentum of recent years, with firms eager to shrug off EU Referendum uncertainty and put their growth plans into action, according to a new Bank of Scotland report.

    The report found firms have reacted to this new phase for Scotland by increasing their plans to invest, innovate and create new jobs.

    Overall, firms expect to create an average of 50 net new jobs over the next five years, against 47 in last year’s survey.

    Bank of Scotland’s fifth annual study, which surveyed producers and manufacturers of alcohol, fresh produce and food and drink products, was commissioned to understand the opportunities and challenges faced by the nation’s food and drink manufacturers.

    The research was conducted in the weeks following the result of the EU Referendum vote.

    Key findings include:

    • The sector plans to create more than 14,000 new jobs over five years
    • Firms predict an average growth of 24 per cent over the next five years (based on current annual turnover)
    • Firms plan to invest an average of 56 per cent of current annual turnover over next five years
    • 69 per cent are investing or planning to engage new international customers

    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.

    Read the Food and Drink Research Report

    Scottish Salmon Company case study

  • Scottish Salmon Case Study [2.12]

  • Key Points:

    • 53 per cent of Scottish firms see the increased focus on provenance as an opportunity for the sector
    • 49 per cent of food and drink firms aim to generate growth by entering new markets in the UK

    ‘Food and drink firms have raised their growth forecasts and look set to build on the momentum of recent years, with firms eager to put their growth plans into action.’

    Jane Clark-Hutchison
    Regional Director, Mid Markets,
    Central Scotland