The impact on the global economy has been significant and the effect will be felt in all markets including the food industry. Consumer spending is expected to be curtailed which will have a knock-on effect on the types of food and drinks that are being consumed.
Forecasters have therefore adjusted their trend predictions accordingly. In a recent article in Food Business News, the following trends were noted:
- The big trends for 2020 included growth in the markets for healthier food alternatives including meat alternatives, low or alcohol-free beverages and sustainability driven products is expected to possibly shift towards comfort foods that are familiar.
- Meat-eaters who were experimenting with meat alternatives are expected to go back to meat whilst traditional vegetarians will stick to vegetables.
- Dairy – due to its health benefits and ‘comforting’ characteristics may see some growth.
- Zero alcohol drinks may give way to classic cocktails, ciders, wine and beers as many look for the feel-good factor which alcohol delivers.
- Unfortunately, sustainability and eco-conscious shopping may take a knock due to the financial constraints. Organic food and beverages may see sales slide.
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