Mentions of cloud computing within the filings of companies in the food manufacturing industry were 37% higher in the second quarter of 2022 year-on-year, data suggests.
In total, the frequency of sentences related to cloud computing between July 2021 and June 2022 was 264% higher than in 2016 when GlobalData, Just Food’s parent, first began to track the key issues referred to in company filings.
When food manufacturing companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. The cloud is one of these topics – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.
To assess whether the cloud is featuring more in the summaries and strategies of food manufacturing companies, two measures were calculated. Firstly, GlobalData looked at the percentage of companies that have mentioned AI at least once in filings during the past twelve months – this was 36% compared to 12% in 2016. Secondly, it calculated the percentage of total analysed sentences that referred to AI.
Of the ten biggest employers in the food manufacturing industry, Wilmar International was the company that referred to cloud computing the most between July 2021 and June 2022. GlobalData identified three cloud-related sentences in the Singapore-based company's filings – 0.12% of all sentences.
Across all food manufacturing companies, the filing published in the second quarter of 2022 that exhibited the greatest focus on cloud computing came from alt-milk company Oatly. Of the document's 2,838 sentences, ten (0.4%) referred to cloud computing.
In the last quarter, food manufacturing companies based in western Europe were most likely to mention cloud computing with 0.06% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Asia mentioned cloud computing in just 0.02% of sentences.
This analysis provides an approximate indication of which companies are focusing on cloud computing and how important the issue is considered within the food manufacturing industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning cloud computing more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into cloud computing have been successes or failures.