Food, Agribusiness and Beverage

Industry Overview

Food, Agribusiness and Beverage

The Race is On to Address Rising Risks and Capture New Opportunities

From rising prices to climate change to shifting geopolitics and consumer habits, organizations in the food, agribusiness and beverage sector operate in an increasingly complex and challenging world.

Simply put, meeting food security needs for a growing global population is getting harder, meaning businesses must set new standards in agility and innovation to capitalize on opportunities in a turbulent era of volatility.

Rapidly re-evaluating operations and strategies around established and clearly-defined risks — as well as newer evolving and emerging risks — will enable the industry to sustain the lives of people across the world.

Businesses also have an opportunity to protect access to human and financial capital with better, long-term thinking and decisions around environmental and social factors. Ethical collaboration, seeking diverse ideas to drive innovation, while increasing workforce and cyber resilience will strengthen businesses to grow — making sustainable change across the industry possible.

Top 5 Current Risks

According to our latest Global Risk Management Survey, the biggest risks facing the Food, Agribusiness and Beverage industry include:

  • 01

    Commodity Price Risk or Scarcity of Materials

    The global commodity market continues to suffer from wild mood swings, often due to geopolitical volatility or extreme weather events.

  • 02

    Supply Chain or Distribution Failure

    Supply chain risk is broadening and becoming more complex, extending well beyond keeping shipping vessels moving or suppliers’ manufacturing facilities intact.

  • 03

    Business Interruption

    Previously, companies planned for isolated events. But the risk landscape is now more interconnected than ever before.

  • 04

    Cyber Attack or Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

  • 05

    Climate Change

    Climate change brings a multitude of challenges to organizations, ranging from expanded ESG commitments to reputational risks to weather-related disruption.

Report

Better Decisions on Risk Capital and Human Capital for FAB Organizations

From rising commodity prices and temperatures to shifting geopolitics and consumer habits, the Food, Agribusiness and Beverage (FAB) sector is at the front line of a series of interconnected trends that are continually challenging businesses.

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Better Decisions on Risk Capital and Human Capital for FAB Organizations

Article

Climate Change Challenges for the Food, Agribusiness and Beverage Industry

Across the food, agribusiness and beverage industry, companies are examining sustainable solutions and environmentally friendly practices to ensure a resilient future.

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Our Better Being podcast series, hosted by Aon Chief Wellbeing Officer Rachel Fellowes, explores wellbeing strategies and resilience. This season we cover human sustainability, kindness in the workplace, how to measure wellbeing, managing grief and more.

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