Indulgent foods, including chocolates, confectioneries, savory snacks and ice cream, are likely to see a notable dip in retail sales as a result of inflation, according to market research firm GlobalData.
Despite inflation, dollar sales in bakery are up almost 12% from last year, according to IDDBA Marketplace Report data from June, indicating that the instore bakery has indeed bounced back from COVID, said Paul Baker, founder of Manchester, UK-based St Pierre Bakery.
Despite inflationary pressures on all foods, continuing high demand for convenience is driving big sales of value-added produce products, which typically yield higher margins for commissaries and retailers.
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