New FCPC report questions long-term viability of Canada’s largest manufacturing sector
Research shows cost of placing food, beverage and consumer products on store shelves increased 22 per cent over five-year period
FCPC’s Industry Sustainability & Competitiveness report reveal the food, beverage and consumer products (FCP) industry has been underperforming due to a number of key challenges, which could lead to job losses and higher food, beverage and consumer good prices for Canadians.
The FCP industry is an important contributor to Canadian jobs, supporting farmers and fueling the economy, but in recent years growth has lagged behind the overall rate of Canadian economic growth.
Over the last several years, a number of barriers including high growth in costs, the unpredictability with our most important trading partner, retaliatory tariffs on our industry, and labour shortages have deterred manufacturers from investing in Canada in favour of more attractive markets.
Despite these challenges, FCPC is optimistic about the tremendous opportunities that exist for the sector and looks forward to continuing to work with federal and provincial governments to overcome roadblocks to innovation, growth and investment.