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Learn moreDec 2020
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Social distancing measures and lockdown protocols to prevent the spread of COVID-19 in 2020 forced some retail stores and foodservice outlets to close temporarily. The pandemic spurred panic buying over a few months in early 2020, with consumers stockpiling non-perishable pantry staples, including rice, pasta, noodles and baby food, as well as long-life products such as canned fruit and vegetables and even the relatively less popular shelf stable milk.
From 23 March 2020, pubs, clubs, cafés and restaurants closed in Australia, other than for takeaway, whilst full lockdown commenced on 25 March. Gyms, cinemas and entertainment venues closed, and although some schools and workplaces remained open, depending on the territory, most people began to work from home and many children did not attend school.
Given the huge impact of the COVID-19 pandemic, the key better for you trend has become the point of attention for many players in the market and they are concentrating on consumers’ focus on health and preventative measures such as boosting their immune systems. New product developments across multiple categories are now tapping into this trend, with products such as drinking milk, yoghurt and even mints launching immunity-boosting and gut health products.
E-commerce was slow to take off in Australia prior to COVID-19. The recent entry into the country of Amazon is a sign that the slow start that Australia’s retailing industry made towards moving into the online arena has given way to a more enthusiastic approach to online shopping.
The foodservice sector in Australia was heavily impacted by the COVID-19 pandemic in 2020, with many outlets being closed temporarily due to social distancing and lockdown measures. Consequently, this led to consumer spending shifting to retail.
Over the forecast period, it is expected that the packaged food spikes seen in 2020 will return to pre-COVID-19 growth levels, especially over 2021-2022. As uncertainties around travel opportunities and economic recovery remain, retail and grocery spending across packaged food is expected to remain high as consumers continue to cook more at home as they are likely to be increasingly conscious about their spending due to the economic impact of the pandemic.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Packaged food industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Packaged Food market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.