How is the Italian Food Chain doing, when it seems that the worst of the Pandemic is over? Here’s my view about it.
- The Italian Economy was badly hit, even worse than other European economies, performing a -8.9% GDP overall in 2020. Food & Beverage consumption lost 10%, with both winners and losers. Bars & Restaurants were affected as never before, losing Euro 30 bln (35%) in turnover, while retail instead, improved the turnover by 5 bln
- The Agro-business and the Italian economy overall are already benefiting with a rebound in sales and value created, larger effects will be visible on Q2-2021 data
- The Food Chain is today the largest source of wealth in the Italian economy (Coldiretti)
- Innovation and Sustainability will be back again as main drivers of growth in the next years, fueled by the EU Green Deal and the F2F-Farm to Fork strategy