Data published last week by RBC Capital Markets from foodservice industry tracker Technomic provide a detailed look at where US consumers are buying food and beverage for consumption away from the home. This includes spending in everything from restaurants to jail commissaries. The largest share of away-from-home spending – more than two-thirds – takes place in restaurants and bars. That segment’s share of the market grew in 2020 as the COVID-19 pandemic drove consumers to quick service and fast casual restaurants and away from hotels and schools. Convenience stores and other retailers selling everything from grab-and-go drinks to prepared foods also saw an increase in share of away from home spend by consumers. Alternatively, the travel and leisure segment recorded a decline from an 11.3 share to 6.3 amid pandemic lockdowns. The away from home segment is important for beverage companies. Globally, away from home consumption represents about half of Coca-Cola’s revenue, the company has said. While less exposed, PepsiCo and Keurig Dr Pepper also have meaningful away from home businesses.

AT-HOME BENEFIT. In his Jan. 29 report, RBC beverage analyst Nik Modi said pandemic- related slow downs in away from home markets outside of restaurants and bars (almost 30% of spend) “will likely remain under pressure well after restaurant traffic starts to recover.” He said that will continue “to provide a tailwind to at home food consumption.”