Cineworld Group announced it would suspend operations at its more than 500 locations (including Regal Entertainment Group theaters in the US and Cineworld and Picturehouse theaters in the UK) beginning this coming Thursday, October 8. The company’s CEO Mooky Greidinger blamed the ongoing postponements of big-budget films, saying “We cannot operate for a long time without a product.”
The fallout for this closure ripples into areas such as the snack food and beverage industry and the suppliers of single-use products such as cups, straws, lids, trays, napkins, and popcorn containers.
Suppliers of soda and other beverages as well as of candy, popcorn, and other snack items have seen increased sales for home consumption, but many are still hurting from the closure of restaurants, bars, and theaters as well as few or no fans at sporting events.
Providers of packaging products – particularly cups and lids – have seen a particular hit, as there is no corresponding increase in home use. Although restaurant carryout and delivery has helped support demand for foodservice disposable products, many customers have chosen to forego picking up to-go beverages in favor of those they already have at home.
For more information and discussion of opportunities, see Packaged Facts’ food- and beverage-related reports, including Food Carryout & Delivery and the companion report with timely consumer insights from our in-house survey capabilities, as well as US Beverage Market Outlook 2020: Grocery Shopping & Personal Consumption in the Coronavirus Era and US Food Market Outlook 2020: Home Cooking, Grocery Shopping & Food Trends in the Age of Coronavirus.
The Freedonia Group’s extensive collection of off-the-shelf research provides a strong complement to packaged food industry analysis, including packaging industry titles such as Foodservice Single-Use Products, Global Foodservice Single-Use Products, and Global Single-Use Packaging Regulations as well as US Restaurant Reopening: COVID-19 Impact on Supplies, Global Foodservice, Surface Disinfecting Wipes, and Global Industrial & Institutional Disinfectants & Sanitizers.
Freedonia Custom Research is also available for questions requiring tailored market intelligence.