Meeting Food & Beverage Consumer Demand During COVID-19 Crisis
The food and beverage industry's essential status ensures continued business as economic and health concerns persist
As the COVID-19 crisis continues to unfold around the world, food and beverage manufacturers have maintained sound economic footing due to acute consumer demand for a broad range of food and beverage products.
An ongoing study from InsightsNow, a behavioral research firm, indicates that the COVID-19 crisis could be providing further momentum to the clean label movement as primary shoppers seek simple ingredients amid grander health and wellness concerns. At the same time, a recent Mattson Insights & Strategy Team study pointed out that the COVID-19 crisis may be prompting consumers to rediscover legacy or "comfort" brands. The firm's research indicates that 43% of respondents list "nostalgic" in the top two types of products that are set to experience the most growth.
for the Food & Beverage Industry
While consumers demand diversity in the food and beverage marketplace, they are also varying the way in which they make purchases. A recent study from IRI and Boston Consulting Group found that eCommerce has shown strong growth as more consumers shift purchase behaviors from in-store to online. The research extends to the pre-COVID-19 era, but suggests that significant and permanent consumer purchasing behavior could result from the current crisis.
Looking more closely at food and beverage manufacturer response to the COVID-19 crisis, a Clear Seas Research survey found that 87% of food and beverage organizations are deemed essential businesses. This position has allowed many food and beverage companies to continue operations in some capacity. According to Clear Seas Research, food and beverage manufacturers have managed to maintain 54% of active business and 52% of planned business.