- ECONOMIC IMPACT -

Latest update: 15 September

The unemployment rate in OECD nations stood at 6.2% in July 2021, down only slightly from 6.4% in June 2021. Among members of the G7 nations, the unemployment rate remained unchanged in July compared to the previous month, still standing at 5.5%.

After economic downturns for several months, positive GDP growth is forecast in all countries, according to GlobalData’s research. The 2021 consensus forecast for global GDP growth is currently 6%.

30%

Three in ten staff say they will prefer to visit their office daily after the pandemic, according to a GlobalData survey.

50%

Most offices will return to at least 50% capacity in the next six months, respondents also told GlobalData.

All major economies are expected to bounce back in 2021

- SECTOR IMPACT: FOOD -

Latest update: 3 September

value chain impact (mid-term)

Consumer goods companies are likely to be forced to analyse their sourcing strategies.


Product development will be hampered by disruption from Covid-19. The sales mix is likely to change favourably for some, though others will struggle.


Online retailers will become increasingly important sales avenues for consumer goods manufacturers.


As events, schools and business catering begin to get back to normal, cost-sector providers will see revenues grow.


There will likely be an increased uptake of online delivery in the foodservice market, sparked by demand during lockdowns, as consumers repeat their use of the services.

FOOD SECTOR TRENDS TO WATCH

Meat substitute products are poised for double-digit growth – albeit from a small base – as the category expands via NPD and new players enter the market.


Long-life products – including canned, dried, and frozen foods – will also see double-digit growth this year, attributable to their long shelf life, in addition to the scratch-cooking trend.


The shift to online grocery deliveries compressed three-year plans into a few months in 2020, as retailers adjusted quickly to the new environment. This shift has generated new online customers from a wider age group and will continue to be an important part of retailing.


Fast-food chains will return to growth this year and are anticipated to recoup 2019 sales values – but in 2023. Health consciousness remains high, highlighting opportunities for players offering healthy menu items, while price consciousness will also play a role in the recovery of

the channel.


Scratch-cooking trends, price consciousness and restrictions on in-house dining will continue to impact full-service restaurants in future. The channel is anticipated to see healthy growth this year after significant decline in 2020, though the recuperation of its 2019 value will be slow.

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