Long-lasting impacts to foodservice in COVID aftermath
A new report from Rabobank expects foodservice sales to remain down for the next 12 months.
Senior analyst of consumer foods Amit Sharma says it could take until 2022 for restaurants to recover from COVID-19 shutdowns.
Foodservice sales during the peak of the pandemic were down 50 percent and analysts expect declines to remain in a 12-14 percent range in the year ahead. The report also expects 15-20 percent of independent restaurants to permanently close during that period.
The report does not consider a possible second wave of the virus later this year.