COVID-19 Impact on Vitamins and Supplements in the Food And Beverage Industry

Posted by swarajya on April 12th, 2021

COVID-19 Impact on Vitamins and Supplements in the Food And Beverage Industry

INTRODUCTION  

The virus (COVID-19) ranging from common cold Middle East respiratory syndrome (MERS) and severe acute respiratory syndrome (SARS) has affected people in the entire world within a short period of span and has created a critical situation including economic and social challenges. Vitamin supplements are required by people suffering from a particular medical condition that leads to deficiencies. The intake of vitamin supplements helps in fulfilling the requirement of the body.

As per WHO (World Health Organization) there have been no cases of transmission of COVID-19 through food and food packaging but measures such as good manufacturing practices (GMPs) along with sanitation and cleaning of food processing equipment and facilities should be followed.

The supplement industry has increased among the multiple pockets as most of the consumer has raised their interest on overall health and wellness. There has been an immense growth in the vitamins required for supplement industry.

PRE-COVID 19 IMPACTS

The U.S. VMS industry experienced steady growth of 6% per year from 2015-2019, surpassing growth in both related segments, such as functional foods and drinks (2% -3% per year), and the U.S. GDP (2% -3% per annum) for the same time span.

For instance,

• The farmer favorability survey shows that 75 percent of people shared a favorable opinion of the U.K. agriculture, which is the highest figure since OnePoll started conducting the annual survey in 2012. This also marks an improvement of six percentage points in public favorability since June 2019, which is in addition to a further rise of five percentage points from June 2018–2019.

The demand was high till the end of the year of 2019, then pandemic came and caused critical situation in the market and led into supply and demand chain disruption. 

POST COVID 19 IMPACT

In July 2020, The Food and Drink Federation (FDF) have announced the Awards function for the Food and Drink Federation Association which will take place at The Royal Lancaster, London in February 2021. The annual awards recognize those involved in the industry's dedication and determination, actions that ensured that the nation was fed during the pandemic.

During the start month of 2020, corona spread took place and it resulted into lockdown in city, courtiers. These typical measures included social distancing, closing hotels, schools, restaurants and many other places such as stores. Due to shut down in the store facility and also transportation, there was lack in the products in market for consumers. Also, international borders were made closed which limited the supply of food products such and convenience and healthy foods, and because of this food supply chains were completely broken or drastically changed with food business. Consumers were not getting their food products and manufacturer was not getting enough raw materials for the production of healthy foods. Due to these reasons, demand and the market value for the healthy foods were decreasing.

As with the strict measures, the governing authorities reopened the transportation facilities and shops and many others, again the shelves in the shops are fulfilled with the food products and consumers are now able to get their choice of desired need.

Further manufacturers have taken few initiatives from their end by taking strict measures for the production of food products. Due to reopening of the supply chain has helped the consumers and manufacturer to get fulfilled with desired need, and now the demand for the healthy foods will increase with much high percent as it enhances the immunity of an individual. The immunity enhancement during the pandemic is much more needed, hence it has seen that eating habits of consumers are getting changed and they are now more inclined towards the healthy food products. It has also been estimated that consumer preference for the fruit intake has increased by 58.0%, protein intake by 37.0% and many others. Increasing awareness regarding immunity building by consuming healthy food has increased the demand for the products and now consumers want to increase their health in order to boost their immunity and reduce vulnerability to disease and illness.

Further, also the demand will increase in the future as consumers have now more aware that Read more…