October came with optimism for a strong fourth quarter, combating the threat of a recession. While we may have not yet escaped the grasp of this economic downturn, there are some positive signs as we move towards the holiday season and the end of 2022. Here are five headlines you may have missed in October:
While Inflation Hits the Food Industry, Crackers Refuse to Crumble
Crisp, crunchy and infinitely snackable, crackers are seeing an uptick in innovation across the board. But while dollar sales in this category were $8.74 billion, a 9.5% sales change vs. a year ago, unit sales were 2.80 billion, down by -2.9% vs. a year ago. Crackers attract a consumer segment that’s interested in not only snacking but also elements of health and wellness. This is particularly true when the crackers contain ingredients such as multigrain flours, legumes, ancient grains and protein. This element of versatility also keeps crackers a staple on many grocery lists. Purchases are strong among households of two or fewer people.
Continuing inflationary pressures means snacking is taking a hit across the board as consumers ration their spending dollars. IRI’s report, “Driving CPG Growth through an Economic Downturn”, found that consumers are unfamiliar with this level of inflation in food and shelter, two basic necessities.
Despite the difficulties from a perfect storm of supply chain disruption, rising inflation and considerable input costs, crackers are generating growth overall from a dollar perspective, despite declining in unit sales. A prevalence of claims, including callouts of calories per serving, vegan/vegetarian and high/specific protein amounts, support those dollar sales gains.
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Conveying Orders Decrease, Bulk Handling Orders Increase
The Conveyor Equipment Manufacturers Association (CEMA) reported that its August 2022 booked orders decreased by 62.71% when compared to August 2021. August 2022 booked orders increased by 31.53% compared to July 2022. July 2022 booked orders had decreased 52.22% compared to June 2022.
August 2022 billed sales for bulk handling equipment increased 17.41% when compared to July 2022. The bulk handling increase follows a 27.62% decrease for July 2022 vs. June 2022. August 2022 billed sales for unit handling equipment increased 12.99% when compared to July 2022. The billed sales for unit handling’s increase compares to a decrease of 31.58% for July 2022 vs. June 2022.
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Russia Agrees To Restart Grain Shipments
After receiving assurances that the “humanitarian corridor” created to ship grains from Ukraine to markets around the world would not be used for military purposes, Russia has reentered the Black Sea Grain Initiative, according to Reuters.
Russia had withdrawn from the agreement on Oct. 29 following alleged attacks on its ships in the region. Russia’s withdrawal from the agreement had sent global wheat futures higher. AHowever, as a result of this news, wWheat futures contract have fallenhad fallen 5.65% following Russia’s statement of reentry.
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Pneumatic Conveying System Market Forecasted to Hit $8.4 Billion
According to a comprehensive research report by Market Research Future (MRFR), the pneumatic conveying system market valuation is poised to reach USD 8.40 bBillion by 2030, registering an 6.19% CAGR throughout the forecast period (2022–2030).
The shift to pneumatic conveying system from mechanical conveying is due to the innumerable benefits offered by the former: such as low maintenance cost (fewer of moving parts), less space requirements for installation, higher flexibility and durability. This trend offers robust opportunities for the market over the forecast period.
Manufacturers in a variety of industries are being compelled by growing consumer health and safety concerns to utilize the automated pneumatic conveying system because they better guarantee product hygiene by preventing material contamination. This is expected towill boost market growth in the assessment period.
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New Study Shows Microplastics from Manufacturing in our Air, Soil, Food and Water
Recent research from the UK and California shows disturbing results: microplastics—other than just fibers from clothes—were found in human lungs in the UK study, and in human stool and placenta samples, according to the California research. Microplastics are defined as any plastic particles ranging in size from 5 mm and smaller—down to 1 µm (1 micron).
This study calls for a stronger push for filter and screening processes in manufacturing to help reduce these contaminants. While the effects of microplastics in the human body are largely not well understood (although inflammation is one possibility), they are generally accepted to be deleterious as are the chemical constituents found in most plastics.
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