COVID-19 Impact on Coffee in Food and Beverage Industry
The outbreak of the COVID-19 has affected the international trade majorly. One of the sectors which are facing the impact due to COVID-19 is coffee industry. It has highly affected the demand of the coffee market as demand and supply of various coffee stringent government rules such as lockdown has been implemented for maintaining social distancing in hotels, bars and restaurants.
According to CBI, this crisis has caused decrease in the sales volumes of coffee by 50.0% in Europe region and approximately by 25.0% in the United States. Due to decrease in sale volume, the roaster is ordering less coffee to providers as they have already warehouses full.
PRE COVID-19 IMPACT
Drinking coffee fuels an individual to start a day for working in offices, home and many others. Due to its fueling activity, it is one of the most consumable products in the market.
· In America, especially in the U.S., around 66 billion cups of coffee per year is taken by consumers.
The consumption of coffee is increasing every year and this leads to high growth in the market value.
POST COVID-19 SCENARIO
Once the worst coronavirus crisis is over in future, the small coffee businesses or industries will recover as the lockdown will not be carried out. All the food service sectors will be open and number of customers will be visiting as of previous time. Yet, the sector believes most will survive. Again the production, consumption and international trading will be normal and the coffee sector will regain its position as of previous and may also grow with substantial growth rate in future.