COVID-19 Impact on RTD Beverages in the Food and Beverage Industry
The COVID-19 pandemic is reshaping everything around the globe. It has impacted almost every industry around globe in positive or negative ways. The impact of the COVID-19 pandemic on global economic conditions has impacted and may continue to impact the proper functioning of financial and capital markets, as well as foreign currency exchange rates, commodity and energy prices and interest rates.
The food & beverages industry has also got affected due to the COVID-19 pandemic situation. As the COVID-19 pandemic turning lives upside down, the trends such as RTD beverages are accelerating in the beverages industry. The beverage companies are taking exciting initiatives such as RTD beverages which are easy to consume and available. RTD coffee continues to perform well in China which is growing in double digits year-over-year in 2019. Also many Chinese dairy companies have also entered the RTD coffee sector with their own drinks. With the on-trade shut down in many major markets and the movement of people severely restricted, e-commerce sales have grown exponentially in the past few weeks. Sales of ready-to-drink cocktails in the U.S. off-premise have been soaring in the past few weeks. Continue...