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Learn moreDec 2020
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COVID-19 has had a significant impact on the packaged food industry in 2020. Foodservice closures and capacity limitations to prevent the spread of the virus have led to large spikes in retail demand for packaged food, at the expense of foodservice sales.
As early as 31 January 2020, US health officials issued quarantine orders to US citizens evacuated from Wuhan, China, amid the COVID-19 outbreak there. From 2 February, entry was restricted from China, with this later extended to virus-hit Iran and Italy.
Agility has been key to company success in 2020. With such a dramatic shift in demand from foodservice to retail, manufacturers have had to rethink their supply chains in order to maintain sales.
Along with the change in how much food consumers are buying through retail, where they are purchasing their groceries has also changed. One of the most important developments in grocery retailing has been the shift from bricks-and-mortar stores to e-commerce.
One of the most impactful changes in the packaged food industry has been the shift from foodservice demand to retail demand. With temporary and sometimes permanent foodservice closures due to COVID-19, and outlets operating at limited capacity on reopening to limit its spread, consumers have looked to retail to fulfil many of their eating occasions.
The trends seen in packaged food in 2020, with lower volume sales in foodservice and higher volume sales in retail due to COVID-19, are expected to see a reversal in 2021, assuming there is widespread distribution of vaccines in the US. In a year of adjustment, retail current value sales are set to decline in this year, as foodservice outlets return to more normal, or close to normal, operations, thus leading to dynamic foodservice growth and as a result, lower consumption in the home.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food industry in USA 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.
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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.