Food Safety Trends and Regulations — The Stakes are Rising for Food Suppliers

Key Points

• The financial risks and costs of food safety are rising, and will continue to rise for food suppliers.
• Contrary to media reports and trending social media, there has not been an increase in food related outbreaks in recent years. This is particularly noteworthy given technology developments which allow us to better detect food safety issues.
• Until traceability improves, enhanced detection will continue increasing the risk of broader advisories - and drive costs higher for food suppliers in the future.
• An advisory does not name a particular product or company as a recall does. As a result, the total effect of an advisory is greater than a recall because the entire industry is impacted.
• Mainstream and social media attention increase consumer awareness of any recall or advisory, leading to greater financial and brand risk for food suppliers.
• The costs of complying with food safety regulations and certification programs are increasing.

Read the Report