Larger food companies are underestimating the long-term impact that the COVID-19 pandemic will have on at-home food consumption, according to Credit Suisse analysts, reports Food Dive. In a research note emailed to Food Dive, analysts estimated that sales of packaged food will be higher than predicted by the companies themselves.
According to the report, analysts believe that consumers will continue to spend more time at home once shelter-in-place orders are lifted. In addition, consumers will continue to try to save money by cooking more for themselves. Companies like General Mills and TreeHouse Foods are best positioned for the near term, according to Credit Suisse, but Kraft Heinz and B&G Foods may not fare as well. Full Story
Related: Barry Callebaut Expects COVID-19 to Impact Business; Empire Co. Limited Reports Sales Increase in March.
from Specialty Food News https://ift.tt/2S9yv9l
No comments: