The US food and beverage industry have managed to balance losses in the foodservice sector with gains on the retail side
Despite the economic impact of the coronavirus pandemic, large segments of the US food and beverage industry have managed to balance losses in the foodservice sector with gains on the retail side as consumers continue to shift food and beverage spending from restaurants to stocking groceries at home.
In the brand new report US Beverage Market Outlook 2020: Grocery Shopping & Personal Consumption in the Coronavirus Era, market research firm Packaged Facts forecasts that sales of major beverage categories will increase from $150 billion in 2019 to more than $160 billion by the end of 2020 and will eventually exceed $170 billion in sales in 2024.