Food and beverage is a high-volume industry with growing commitment to diverse suppliers. Here's why certification matters:
Retail Shelf Access: Major retailers including Kroger, Albertsons, Target, and Sam's Club participate in events specifically to connect with diverse food and beverage brands. Certification is often required to access dedicated diverse supplier shelves and promotional opportunities.
CPG Company Commitments: PepsiCo has spent over $1 billion annually with certified diverse suppliers and committed to spending over $400 million annually specifically with Black and Hispanic-owned suppliers. Coca-Cola, Nestle, and General Mills have similar programs.
Food Service and Catering: Corporate dining, hospital food service, school nutrition, and government catering all have diverse supplier preferences. Companies like Aramark and Sodexo actively seek diverse food suppliers and subcontractors.
Food Industry Organizations: The Food Marketing Institute (FMI) promotes supplier diversity across the grocery retail sector and hosts events connecting diverse suppliers with food retail buyers.
Growing Consumer Demand: Consumers increasingly seek out brands owned by diverse entrepreneurs, creating pull-through demand at retail. This consumer trend reinforces corporate commitment to sourcing from diverse food companies.
Room for Growth: The food and beverage sector's diverse spend currently averages only about 1.6% of total procurement, indicating significant room for growth and opportunity for certified suppliers to capture new business.