The challenging years have not dampened the confidence of Finnish food and drink companies in the future or their willingness to invest. The sector is expected to invest almost EUR 650 million this year.
Its planned investments are now actually higher than in 2023, when investments amounted to EUR 607 million. In 2022, the food and drink industry’s investments totalled EUR 529 million.
This data comes from a survey by the Confederation of Finnish Industries, which predicts a growth of around 7% in investment in the food sector.
Just over half (54%) of the investments will go towards replacing and renewing existing production capacity. These investments are aimed at increasing efficiency and responding to the demands of increasing regulation.
In addition to this, 23% of the investments will go to increasing production capacity, 12% to rationalization and 11% for other purposes.
The ever-increasing sustainability regulation means that the food industry has to invest heavily to ensure that its products comply with the regulations and that consumers will want to buy the products. For example, the recent reform concerning the caps of beverage containers required significant investments from businesses.