BFY beverages saw stronger growth in 2020 compared to the previous year in both in current value and retail volume terms. A key factor behind this stronger growth was the stockpiling seen around the initial lockdown that was introduced to curb the spread of COVID-19.
Two trends were seen to be heavily influencing purchasing decisions within BFY beverages during 2020. Firstly, with a rapid rise in unemployment and widespread wage insecurity there was a clear shift towards more affordable products, including private label.
Another key driver of growth in 2020 was the restrictions placed on foodservice, with consumers having fewer opportunities to eat out or to socialise with friends. As such, many people purchased BFY beverages for consumption at home.
The government has been in discussion with manufacturers over regulation changes which should benefit BFY beverages. For example, carbonates are likely to be subject to front-of-pack nutrition labelling aimed at highlighting products high in sugar, sodium, and saturated fats.
Canada witnessed a sharp rise in unemployment during 2020 due to the measures taken to contain COVID-19 and these could continue to have a negative impact on the economy, at least in the short term. It is hoped that if the vaccines prove successful then the economy should start on the path to recovery by the end of 2021, which would provide a boost to sales of BFY beverages.
Foodservice was dealt a heavy blow in 2020 with many outlets forced to close, at least for part of the year. For some establishments they are not expected to recover and will likely close permanently, with this being especially true for more specialist outlets such as smoothie bars.
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Understand the latest market trends and future growth opportunities for the Better For You Beverages industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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