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COVID’s impact on the food industry:

 

COVID-19 has virtually brought the entire world to a complete stop. All industries have been affected and have suffered huge losses. The food industry is no exception.

Major restaurant chains like MacDonald’s and Burger King have decided to lower its prices post lockdown. A complete shut down for almost half the year for such big names can be devastating.
when we were complaining about not getting our favourite burgers, people were losing their livelihoods, as major cut down were made in the employment sector of the food industry.

This year we have seen a similar situation like that of the financial crisis of the early 2000’s that showed how reduced income and uncertainty makes people spend less which results in reduced demand.

At the beginning of the outbreak, there was a massive increase in demand, but as the lockdown stretched, the demand started shrinking.
The demand for food in general is inelastic and its effect on the average consumption will be very limited, although dietary patterns may change.

Food demand in poorer nations is more dependent on income, and in places like these losses of job opportunities and reduced income can impact on consumption.

The common man wasn’t prepared for such situations. The pandemic has completely changed the demand and supply structure for the food industry.

In the last six months the demand for ready to cook meals has increased a lot. As these items can be stored easily and for long periods of time, people are stocking up on them as much as they can.

Brands like Lean Cuisine has come out with a range of easy and quick microwaveable dishes, which are both delicious and somewhat healthy.

Lean Cuisine Creamy Chicken Tortellini is one of the most popular items in their range of ready to prepare food. It is the perfect meal during lockdown, as it tastes delicious and takes almost no time to prepare.
Containing breaded white chicken with some delicious tortellini in some thick creamy sauce, all of which can be prepared in just a few minutes.

 

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