Missouri Partnership CEO, Subash Alias, recently offered his outlook in Food Processing on what challenges the food industry will face post-pandemic and how companies can be successful in the future.
Even before the pandemic, the farming industry was struggling. High production and low demand caused prices to fall precipitously, and USDA discovered that the price of staples like corn and soybeans dropped 48% and 40%, respectively, between 2012 and 2019.
Then the pandemic struck, and the food manufacturing industry was hit with a new challenge: crippling labor shortages. And lengthy wait times for distribution resulted in spoiled food products. Dairy Farmers of America estimates that supply chain disruptions spoiled up to 3.7 million gallons of milk each day during the pandemic. These temporary setbacks were painful, but they also carried valuable lessons.
A new focus on sustainability
CPG companies are using more ecological packaging materials and taking aggressive measures to reduce waste and improve water conservation. Missouri, in particular, is producing some interesting sustainable packaging solutions derived from soybeans, cotton waste, polylactic acid from corn, cornstarch foam, and hemp. Still, sustainability work is far from over.
For food manufacturers, a state of upheaval could be the new normal. The implementation of advanced technology, changing consumer preferences for food and the demand for sustainable food production will keep manufacturers on their toes. Industry leaders and entrepreneurs alike will have to develop innovative new solutions to ensure future success for the food manufacturing industry.
Check out the full article from our CEO here to see the three challenges he believes the food industry needs to address to ensure success moving forward.
What Next?