There have been significant shifts in the food and beverage sector in Australia since COVID-19 with clear winners and areas which will continue to struggle for some time.
Restaurants and cafes are now open with restrictions, but this varies by state. In addition, with the cancellation of large events, closure of nightclubs, bars and clubs; food service and on-premise alcohol sales have tumbled. Conversely, food retail sales have spiked (supermarket retail is up 22% this period) and the market is looking at categories and what will become the new normal. Consumers across Australia are increasingly focused on home cooking and baking. Meanwhile some consumers have been stock piling centre store products, which has led to supply chain and stock availability issues at supermarkets