Coronavirus Coverage

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Widespread stay-at-home orders amid the COVID-19 pandemic have led to record rates of unemployment and increased pressure on food banks. In support of its local communities during this challenging time, Lesaffre Corp. and Red Star are making charitable food donations worth $100,000 to food banks, starting with the cities where the company operates: Cedar Rapids, Iowa; Dothan, Ala.; and Milwaukee.

The US consumer packaged goods industry increased by 2.2% in 2019, outpacing 2018 growth of 2.0%, according to the eighth annual Boston Consulting Group (BCG)/IRI CPG study released at the end of March. The growth was driven exclusively by pricing adjustments in the face of declining average volumes across measured channels. Despite the volume drop, top growth leaders saw their volumes increase over 2018.

The COVID-19 pandemic is likely to alter consumer behaviors permanently and cause lasting structural changes to the consumer goods and retail industries, according to findings of an Accenture survey of more than 3,000 consumers in 15 countries across five continents.

The food manufacturing world is watching an unprecedented reality unfold during the COVID-19 pandemic. Major shifts in demand, distribution, sales and supply chain have some companies scrambling to respond to significant disruptions to the status quo.

As an industry we’ve read lots of published research on consumer attitudes and purchase behavior during the COVID-19 crisis. Those who manage existing food and beverage brands have been in the thick of it, dealing with huge swings in demand, closures, new operating procedures, and the like.

Base Food, a Tokyo-based food tech company that creates nutritionally complete pantry staples, launched a new product called Base Bread. In some ways, this direct-to-consumer product is launched at a perfect time - given the grocery store shortages due to the COVID-19 outbreak, and consumers’ need for flexible, healthy WFH meal options.

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.