Bakeries navigate two months or stay-at-home orders, while evaluating innovation strategies
The following is an excerpt from a recent report developed by Rabobank.
Covid-19 has affected bakery players in different ways. With foodservice representing as much as 70% of their sales, frozen bakery players have seen reduced orders as food consumption changes from restaurants to home kitchens. Meanwhile, retail players – mostly in the fresh bread segment – rushed to feed a population that from one day to the next was told to stay at home.