Technomic reveals 'middle case' scenario would result in 21% growth next year even though sales are likely to fall short of 2019 levels
Research
In the March-July window alone, the industry lost out on around $165 billion, while August sales were still down 34% on last year
The survey also suggested that, at the end of May, around 76% of restaurants were open 'in some capacity', while 26% were closed temporarily.
Permanent closures due to lockdown measures could hit up to 20% of food and beverage establishments, though this number will begin to recover in 2021
This is due to the effects of the coronavirus outbreak, which has seen closures of all sit-in food and beverage establishments in most states, with many choosing to operate on a delivery-only basis.
Various causes are posited as current barriers to growth, including high labor costs and rising food prices, as well as overcrowding in the delivery market.
Efforts to create more sustainable alternatives are on the rise, but plastic and polystyrene products will still dominate the market for the foreseeable future.
Use of water baths in commercial foodservice operations will account for the lion’s share of sales
Technomic’s report says that as many as 52% of Generation Z consumers use third-party delivery apps or websites like Deliveroo, Just Eat or Uber Eats.
The unseasonably mild weather, the report suggests, means that restauranteurs should not put too much stock in the change as anything other than a temporary improvement.