The two-month+ COVID pandemic lockdown period is a disruptor for many industries including the Indian Packaged Food Industry. Due to the lockdown, changes in Indian consumer habits and their behaviour will result in changes in demand and needs in comparison to the pre-lockdown period. The changes will dictate a new norm and outlook for the post-lockdown decade of the Indian Packaged Food Industry in the following ways:
Demand for Packaged Foods/ Commodities Will Surge
With the fear of viral infection and the need for good food and health foods, consumers will demand more packaged food products. These may not be processed foods but commodities that are generally packed hygienically and well labeled. As on date today most of the packaged foods are in loose formats. Consumers are being converted from the unorganised loose food products and commodities which will see a faster conversion. Most of the food commodities/ product categories are dominated by the unorganised loose categories such as rice, wheat, and wheat products such as atta, maida, suji etc., cooking oils, spice powders/ masalas, tea, whole spices etc. Private labels in modern trade will rule this category growth and regional food manufacturers/ players will dominate the general trade across the country. The penetration across the lower SECs will gain momentum as consumers begin to be less price-conscious as the lockdown has given them the experience of being healthy is priceless.
New Age Grains / Nutri-Cereals Will Gain Momentum
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