Australia Food & Drink Q1 2021
Australia is beginning to reopen its economy, allowing previously restricted sectors including food services to reopen. Wehold the view that the food and non-alcoholic drinks sector is positioned well, as groceries remained open during the country’slockdown. Furthermore, as the economic reality of Covid-19 continues to feed through to consumers, we expect the prioritisation offood and non-alcoholic drinks purchases to continue. Medium-term growth in food and drink sales will be driven by premiumisationand trends towards healthier eating. However, economic downside pressures from the impact of Covid-19 related governmentinterventions will likely drag on growth prospects.
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