From sunflower oil to champagne, global food shortages have been rife in recent years. In a survey conducted by Ingredients Network, the overwhelming majority of respondents (92%) revealed that the war in Ukraine, the Covid-19 pandemic, and shipping and logistics delays have had a significant impact on their businesses.
As supermarket shelves go unreplenished and inflationary pressure mounts, consumers are growing increasingly uneasy about the current state of ingredient supplies. According to Mintel, consumer concerns over food shortages jumped from 17% in 2021 to 23% in 2022, making it crucial for companies to invest in reformulation to ensure production continuity.
With global food prices surging by 65% since the start of the Covid-19 pandemic and by 12% in 2022 alone following Russia’s invasion of Ukraine, it's more important than ever for food manufacturers to review how they produce and procure ingredients, accounting for sustainability considerations, substitutions, and even their geographical location.
Which food categories are being impacted the most, and how can brands best safeguard their products and supply chains?
The Fi webinar, Sourcing challenges and ingredient substitutions, held on 14 March 2023 will answer these questions, and more.
Brought to you by Fi Global Insights as part of the Fi Webinar Series and with the support of our content partner, the Food Strategy Institute, this webinar day will highlight the main issues impacting food supply chains and outline the strategies brands can deploy to mitigate these ongoing challenges.
With two expert presentations from Rob Kooijmans, CEO, Food Strategy Institute and Carole Bingley, technical specialist, Reading Scientific Services Ltd (RSSL), followed by a live panel discussion between experts and attendees, manufacturers can gain insights on the challenge of securing their supply chain, what reformulation may be required to cope with the escalating cost of ingredients, and which new solutions are on offer to safeguard their future.
So, mark your calendar for 14 March and register for this not-to-be-missed event today!