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Below is a brief excerpt from a complementary research note written by our Consumer Staples analysts Howard Penney and Daniel Biolsi. We are pleased to announce that we recently launched Consumables Pro, Howard and Daniel's new research product. Click HERE to learn more. |
Sales of frozen fruit and frozen vegetables continue to outpace sales of fresh fruit and vegetables.
Frozen foods benefit from several drivers during the pandemic, including staying edible for longer, lasting longer when visiting supermarkets less frequently, less waste, and better for you (higher vitamin retention).
Sales of frozen food accelerate with stockpiling. Consumers are not stockpiling food like the onset of the shutdowns in mid-March, but they have continued to purchase more than consumption for most weeks during the pandemic.
Fresh vegetable growth is a good indicator of home meal consumption as it is a component of meals cooked at home in the near term.
Fresh vegetable growth of 17% in the week ended July 19 indicate elevated home meal consumption.
