Significant COVID-19 Impact on Coffee | Food and Beverage Industry | Data Bridge Market Research
COVID-19 Impact on Coffee in Food and Beverage Industry The outbreak of the COVID-19 has affected the international trade majorly. One of the sectors which are facing the impact due to COVID-19 is coffee industry. It has highly affected the demand of the coffee market as demand and supply of various coffee stringent government rules such as lockdown has been implemented for maintaining social distancing in hotels, bars and restaurants. According to CBI, this crisis has caused decrease in the sales volumes of coffee by 50.0% in Europe region and approximately by 25.0% in the United States. Due to decrease in sale volume, the roaster is ordering less coffee to providers as they have already warehouses full. PRE COVID-19 IMPACT Drinking coffee fuels an individual to start a day for working in offices, home and many others. Due to its fueling activity, it is one of the most consumable products in the market. For instance, · In America, especially in the U.S., around 66 billion cups of coffee per year is taken by consumers. Similarly, there are many other countries which consume coffee highly and they are Finland, Sweden, Switzerland, Germany, France, Italy and others. The consumption of coffee is increasing every year and this leads to high growth in the market value. POST COVID-19 SCENARIO Once the worst coronavirus crisis is over in future, the small coffee businesses or industries will recover as the lockdown will not be carried out. All the food service sectors will be open and number of customers will be visiting as of previous time. Yet, the sector believes most will survive. Again the production, consumption and international trading will be normal and the coffee sector will regain its position as of previous and may also grow with substantial growth rate in future. COFFEE MANUFACTURERS: PERSPECTIVE AND INITIATIVES The coffee demand among household consumption has been increased in the pandemic, whereas the demand of coffee in Europe and Americas were more in the food service sectors in cafes and bars. Due to the long term lockdown people are referring the coffee in their household usage. The household income has lowered the demand for coffee in terms of volume. The consumption of organic based products is gaining population including ready to drink coffee market. Read more….