Home food consumption is expected to decline in the next 18 months as consumers resume more normalized spending patterns, according to research from Moody’s, reports Food Dive. In 2021, sales and earnings will decline as food companies try to match strong retail sales during the pandemic. However, the firm believes the decline will be short-lived. "The residual benefits from the pandemic, especially for large packaged food companies, will support solid earnings growth for 2022 and beyond," the firm said.
In addition, Moody’s believes that as grocery retailers replenish store shelves, they will return to more normal product assortments that will include niche brands and store-branded products. "Meanwhile, the big food producers will be resuming launches of their newest, best product ideas this fall in order to hold onto as much of their market share gains as possible," Moody's said. Full Story
Related: Labriculture, Brain Food Among Trends for 2021; FMI Creates Illustrated Pandemic Effects on Grocery Price.
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