Covid-19 briefing

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- ECONOMIC IMPACT -

Latest update: 14 April

The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022.

 India is projected 12.5% growth in 2021, ahead of China's forecasted 8.6%, according to the IMF.

6%

Positive GDP growth is forecast in all countries; the 2021 consensus forecast for GDP growth is currently 6%.

6.7%

The unemployment rate in OECD nations stood at 6.7% in Feb 2021, marginally down from 6.8% in Jan 2021.

Impact of Covid-19 on employment outlook

- SECTOR IMPACT: DRINKS -

Latest update: 6 May

employment impact

900

Coca-Cola Bottlers Japan recently offered voluntary redundancy to 900 of its employees. 

 7%

Heineken plans to reduce its headcount in South Africa by 7%, which it attributes to the coronavirus and the alcohol ban in the nation.

on-trade predictions

Pubs, clubs, and bars will experience 12% value growth in 2021 but are not anticipated to regain their 2019 value in the years to 2024, highlighting the extent of the pandemic’s impact.

Key DRINKS developments

Alcoholic drinks are anticipated to see 8.1% value growth in 2021 after being significantly impacted by the pandemic the previous year. The sector will benefit when restrictions on socialising and lockdown measures begin to ease, though consumers will remain cautious with their spending. The sector is anticipated to recuperate its 2019 value only in 2023.


Health consciousness is heightened amid the ongoing pandemic, prompting consumers to make healthier decisions when consuming non-alcoholic beverages. The sector is anticipated to see 7.4% growth in 2021, driven by the flavoured water, enhanced water, and packaged water categories, while it will recuperate its 2019 value this year.

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