Rice, pasta and noodles are all set to record high growth in 2020, with spikes in demand during lockdown, as consumers stockpiled goods, especially those they considered to be essentials. The increase in demand was also exacerbated by foodservice outlets and operators being closed, pushing consumers to cook more at home, incorporating these staples into every day cooking.
In response to the bushfires which devastated many farming and rural communities, companies have launched initiatives and partnered with charities to support Australian communities and farmers. For example, San Remo donated staples such as pasta to support Foodbank’s bushfire relief, and Vetta Smart Pasta partnered with Rural Aid, launching a specially-marked pasta range and donating 10 cents from the sale of these pasta packs to the charity.
Rice Growers Ltd leads the landscape in 2020, having introduced the SunRice Infusions Quick Rice range, inspired by a range of flavours from all around the world, in 2019. This range includes Lemongrass, Coconut & Chilli, Hainanese Chicken and Chilli and Garlic, and helped SunRice record double-digit growth in 2020.
With growth set to be positively impacted by the outbreak of COVID-19 in 2020, a decline is predicted for 2021, as demand returns to normal, and retail faces competition from food service options. From 2022, growth is set to align to pre-COVID-19 levels, remaining steady across the rest of the forecast period.
Instant noodles, which has a shelf life of around a year, saw heightened sales in Q1 and Q2 of 2020, as consumers stockpiled convenient and affordable goods. After a predicted decline in growth for 2021, the product is expected to continue performing well over the forecast period.
Health and wellness properties are set to be a key driver of sales over the forecast period, with the health and wellness trend boosted by the outbreak of COVID-19, as consumers become increasingly focused on their health. Across the review period, rice and pasta alternatives continued to grow in popularity, something that will only deepen over the forecast period as consumers become more sensitive to their carbohydrate intake and look for ways to remain healthy, without sacrificing their cravings.
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