Every year poses its share of market challenges to companies operating in the snack and bakery market—a vital economic sector, which at retail alone accounts for over $100 billion in annual U.S. sales.
But our current era presents myriad unprecedented obstacles. The ongoing global COVID-19 pandemic has drastically altered how Americans work. The home office is the new normal for an increasing percentage of employees, thereby reducing, or eliminating, morning and evening commutes—and the typical meal replacements and/or snacks that accented those times. Fewer people are out and about—particularly in sensitive geographical areas with high population density, like our major metropolitan areas. These factors change how Americans interact with foodservice across every daypart. The pandemic has also catalyzed more nutritional self-reflection in American consumers—perspectives that will factor into product purchase decision-making.