BEMA Intel

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KEY TAKEAWAYS

BEMA Intel Industry Indicators

  • In the second quarter of 2024, Commercial Aisle Bakery dollar sales for the quarter totaled $22.2 billion, a slight decrease of 0.2% compared to the corresponding quarter in 2023. Unit sales were also down slightly 0.8% for the same period, continuing to suggest that increased prices due to high inflation have impacted consumer demand in the category.
  • In the second quarter of 2024, In-Store Bakery dollar sales were down slightly 0.3% to $4.7 billion compared to the corresponding quarter a year ago, with unit sales up 0.7%.
  • The Grain-Based Foods Stock Index was down 9.3% in the second quarter of 2024, while the S&P 500 increased 23.0%.
  • The Consumer Price Index for Bakery Products increased slightly at 1.3% in June 2024 compared to the previous year, following major increases in the CPI that began during the inflationary period in 2022.
  • Baking ingredient costs for all categories tracked by Milling & Baking News’ Bakery Ingredient Indexes are on the decline. Ingredient costs for white pan bread continued to decrease 22.5% in 2024Q2 compared to a year ago. The index for cake donuts was down 18.2% in 2024Q2 compared to a year ago and down 12.2% for devils food cake.
  • Unemployment increased to 4.1% in June 2024. Unit Labor Costs are leveling out somewhat, with an increase of 2.1% for 2024Q2 compared to the same quarter a year ago.
  • Flour production continued its gradual recovery, up 1.9% in 2024Q2 compared to a year ago.

BEMA Intel Member Pulse Survey

  • Equipment manufacturer industry outlook declined slightly in 2024Q2, with 75% expressing a ‘positive’ outlook, compared to 75% in 2024Q1.
  • In the area of company bookings, 38% of equipment manufacturers reported increased bookings in 2024Q2, up from 21% in 2024Q1.  Twenty percent of equipment manufacturers reported decreased bookings in 2024Q2, down from 28% in the first quarter of 2024.
  • Attracting and retaining a quality workforce is the top concern for equipment manufacturers, with 52% citing it as a challenge in 2024Q2.
  • Concerns about a weaker domestic economy and sales for products to U.S. customers increased slightly from the first quarter of 2024, with 39% of manufacturers citing this as a concern in 2024Q2.
  • Concerns over raw material costs have decreased significantly, with 23% of equipment manufacturers reporting concerns in 2024Q2, down from a high of 91% in 2022Q2. Concerns are also declining in the area of transportation/logistics (27% in 2024Q2 compared to a high of 78% in 2021Q4).

Summary 2024 Q2

bema intel 2024 q2
bema intel 2024 q2
bema intel 2024 q2

What is BEMA INTEL?

The BEMA Intel Industry Summary report presents at-a-glance topline trends for key U.S. economic and commercial baking industry indicators. Updated quarterly, this overview provides a high-level view of the state of commercial baking and equipment manufacturing industries to aid in planning and critical decision making.

BEMA Intel Industry Indicators
This report contains detailed, historical. and current trending data for key industry indicators most helpful in understanding the changing health of the U.S. commercial baking and equipment manufacturing industries, as provided by data from Circana, Milling and Baking News, USDA and more. The complete report is only available to BEMA members.

BEMA Intel Member Pulse Survey
A confidential online survey among BEMA equipment manufacturing members reflecting global and U.S. industry outlooks, company outlook by product channel and bookings/sales, and top business challenges. The full results of this survey are only available to BEMA members.