Mentions of digitalization within the filings of companies in the packaging industry were 351% higher between July 2021 and June 2022 than in 2016, according to the latest analysis of data from GlobalData.
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When companies in the packaging industry 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. Digitalization 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 digitalization is featuring more in the summaries and strategies of companies in the packaging industry, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned digitalization at least once in filings during the past twelve months - this was 89% compared to 50% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to digitalization.
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Of the 30 biggest employers in the packaging industry, Sealed Air was the company which referred to digitalization the most between July 2021 and June 2022. GlobalData identified 172 digitalization-related sentences in the United States-based company's filings - 2.7% of all sentences. DS Smith mentioned digitalization the second most - the issue was referred to in 1.3% of sentences in the company's filings. Other top employers with high digitalization mentions included Daio Paper, Mondi and Klabin.
Across all companies in the packaging industry the filing published in the second quarter of 2022 which exhibited the greatest focus on digitalization came from CMPC. Of the document's 3,570 sentences, 21 (0.6%) referred to digitalization.
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By GlobalDataThis analysis provides an approximate indication of which companies are focusing on digitalization and how important the issue is considered within the packaging industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning digitalization 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 digitalization have been successes or failures.
In the last quarter, companies in the packaging industry based in Western Europe were most likely to mention digitalization with 0.49% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in the United States mentioned digitalization in just 0.41% of sentences.
