14 Oct BEMA Intel: 2022 Q2 Highlights
BEMA Intel Member Pulse Survey
- Equipment manufacturer industry outlook held steady in 2022 Q2, with 87% expressing a ‘positive’ outlook, compared to 86% in the first quarter of 2022.
- 55% of equipment manufacturers reported bookings up in 2022 Q2, compared to 59% in 2022Q1. Fifteen percent of equipment manufacturers reported decreased bookings in 2022 Q2, in line with Q1 trends.
- A significant proportion of equipment manufacturers continue the struggle with costs from raw materials (91%) and transportation/logistics (72%), as well as workforce gap issues (69%).
BEMA Intel Industry Indicators
- In the second quarter of 2022, Commercial Aisle Bakery dollar sales for the quarter totaled $20.2 billion, a gain of 11.6% over the previous quarter. However, unit sales were down 3.5% for the same period, suggesting that increased prices due to high inflation have impacted consumer demand in the category.
- In the second quarter of 2022, In-Store Bakery dollar sales were up a substantial 9.4% to $4.2 billion. Unit sales were flat in the in-store bakery category.
- The Consumer Price Index for Bakery Products increased a substantial 13.1% in June 2022 compared to the previous year.
- Baking ingredient costs have increased significantly compared to a year ago. The Bakery Ingredient Index for white pan bread was up 41% in 2022 Q2 compared to a year ago, and up 130% for devils food cake.
- Unemployment remains fairly low at 3.5%, but Unit Labor Costs remain high at 8.6%.