COVID-19 Impact on RTE Foodin Food and Beverages Industry
The pandemic have impacted the food and beverages industry by pouring in their consumption globally. Whereas, due to the extended lockdown food service sector have been hugely impacted in Americas, Europe and all over world. However this lockdown have been made an opportunity to the ready to eat food owing to their demand because of high shelf life and time saving and attractive availability of products.
Before the pandemic, ready to eat food was considered as a comfort food by the consumers. However, the pandemic have changed the preference with the awareness of functional ingredients in diet and are shifting towards healthy ready to eat food. Hence, this pandemic has influenced on the demand for ready to eat food in positive manner which eventually provides health benefits. Though the COVID-19 lockdown has deprived many of business, it has created an opportunity and chances to grab the growth for few industries.
For instance,
• Gurugram, India based ready-to-cook player claims to have grown 100% month on month during the lockdown. Company has sold over 500 thousand meals since launch from its single kitchen while bootstrapping.
• According to Indian food processing minister Harsimrat Kaur Basal, lockdown has created an new opportunities for food processing sector particularly for RTE food such as frozen food and superfood among others emerging as leading segment.
Raised sales of RTE food is mainly due to lucrative offers in combo packs, festive offers, flat discounts and coupon discounts by retailers. Further rapid urbanization and progressively hectic lifestyles are also driving the growth of the segment. There was a 40% increase in the demand for frozen, packaged and luxury food items. In addition, digitalization’s provides end to end information regarding food processing’s, precautions and safety measures that have been taken during food processing’s. Hence, it impacts on the demand for RTE food. Continue...