In this brief, we’ve identified 15 global signals of trends that are shaping the post COVID-19 ‘new normal’ for the global food ecosystem.
Consumer behaviour:
Online grocery shopping is surging - up 26% in US. In the UK, there has been a 38% increase in people cooking from scratch. Healthy eating is a priority for 55% across Europe. We discuss which consumer trends will stick post covid-19.
Industry dynamic:
40%-50% of manufacturers’ workforce are unavailable on-site; farmers are seeing shortage of labor, which is accelerating further automation. We discuss how will supply chains evolve and what investments will be made.
Government policy:
Global food supply chain disruptions are accelerating food insecurity and domestic production considerations. We discuss which food sector enablement and security policies will be needed post covid-19.
An action plan towards the ‘new normal’ for the food industry is presented as it transitions from crisis management mode through three phases of Return (transition to post-COVID-19), Reform (operational setup), and Reinvent (new solutions, efficiencies, compliance). Similarly, for governments, a mid-term (1-3 years) strategy is provided through the three phases.
