This report forms part of Euromonitor’s Voice of the Industry series, and features the results of a survey of professionals working in the Packaged and Fresh Food industries. It examines their opinions regarding short- medium-, and long-term developments and what they have seen in the market under the impact of COVID-19.
According to professionals in the Food and Nutrition industry, the COVID-19 pandemic will continue to have a positive impact on retail sales through 2021.
A key driver will remain the negative impact on foodservice and out-of-home eating, with most industry professionals believing that a return to the pre-pandemic ‘normal’ will not occur until 2022/23.
Further emphasising the lasting impact of the pandemic, three in four industry professionals believe the health and wellness food trend will be very/extremely influential through to 2025.
Private label/value-for-money ranges are thought to have done very well across 2019/20; half of industry professionals estimate 11-20% growth at the total food sales level.
The respondents also believe that the online channel will continue to grow in influence. Around a third across each region consider online sales growth above 30% most likely for the full-year 2021, and approximately two-thirds believe the channel will account for over 20% of global sales in 2025.
While they forecast growth for packaged food sales through to 2025, professionals are cautious regarding the size of increase. Fresh food predictions tend to be stronger, however.
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