Glenn Cooke, Ian Smith offer timeline for COVID-19 foodservice recovery
The global COVID-19 pandemic has been a mixed bag for the seafood industry, with retailers notching record seafood sales and the category as a whole seeing gains, even as the foodservice industry virtually collapsed.
That downturn is expected to change direction this year, with foodservice operators optimistic about 2021. Seafood company CEOs and advisors, speaking during the National Fisheries lnstitute’s Global Seafood Market Conference’s economic outlook panel, also expressed optimism about the industry’s recovery. While in the short-term the rebound may be slight, as trend experts have predicted, once relative normalcy returns demand could see a big boost.
“I think the euphoria of people once we get through this is going to be incredible [and] we’re going to see a fast and quick recovery,” Cooke Aquaculture CEO Glenn Cooke said during the panel.
Due to travel restrictions, office closures, and lockdowns, most people haven’t been able to enjoy the restaurant experiences they’re familiar with for months. Cooke and other panel members predicted that will cause a sharp rebound once things reopen.
“As soon as they are vaccinated or in some cases earlier, as the warm weather comes, people are going to escape the cage,” Antarctica Advisors LLC Managing Partner Ignacio Kleiman said.