The COVID-19 pandemic is expected to cause a decline in foodservice volume sales in 2020 as a result of foodservice closures and the lingering fear of infection in public spaces. Restricted movement is also expected to contribute to long-lasting lower demand for foodservice as consumers are unable to travel to their usual favourites as they used to.
Broadways Bakery has launched a new diabetes awareness campaign using the hashtag #BeSugarSmart. This campaign is designed to support sales of Broadways Bakery products, which are well known for having a relatively low sugar content compared to the majority of their competitors.
Specialist bakery stores are increasing in number, driven by the growth spurt in shopping centres in residential areas. To compete with supermarket in-store bakeries, specialist bakery stores are hoping to gain and maintain their existing share by also offering coffee stations and healthy juice bars on their premises.
Foodservice volume sales are expected to return swiftly to pre-COVID-19 foodservice volume sales in the forecast period, driven by the return of pre-COVID-19 lifestyles as consumers return to work and school. This means that convenience will, once again, be a crucial factor on consumer decision making.
As the cost of bread has increased significantly over the review period, consumers are becoming more price sensitive in their purchasing decision in baked goods. The forecast period, however, will be characterised by a continued influx of smaller players to the category, many of which offer more competitive prices than the major players in baked goods.
The demand for bread and other products in baked goods is expected to continue to grow in the forecast period. Urbanisation and improved economic prospects is expected to increase the need for convenient products in packaged food.
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