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Food & Beverages Market Overview
Food & Beverages Global Market Size is estimated to reach $7,464.2 billion by 2027 and is poised to grow at a CAGR of 5.9% over the forecast period of 2022-2027. Food & beverages market experiences growth with changing consumer habits, increasing number of shopping malls, out-of-town retail parks and retail stores. According to food navigator, the sale of natural and organic food & beverages would surpass $300 billion by 2024 and $400 billion by 2030 in the U.S. market. Such high demand for organic food & beverages fuels market growth over the forecast period 2022-2027. The food and beverage global market is known for innovative, healthy and tasty food and drinks. The food & beverages global market is segmented into alcoholic beverages, non-alcoholic beverages (carbonated soft drinks and caffeinated drinks), grain products, bakery & confectionery (snack foods, baked goods and staple food), frozen, canned & dried food, dairy food, meat, poultry & seafood, syrup, seasoning, oils & general food, animal and pet food, tobacco products and other products. Furthermore, the presence of leading market players across the globe and their innovative product launches and leading trend of ‘try it’ fuels market growth. According to Forbes 2022 report, Nestle is at top of the food & beverage industry with more than $93 billion in sales and Pepsico stands second on the list. In February 2022, Nestle announced the purchase of the majority of stakes in Orgain, a leader in plant-based nutrition. Also, one of the top global companies, Anheuser-Busch InBev SA, makes a $50 million investment in the St. Louis brewery in the U.S. Such innovative product launches and expansion of key market companies help fuel the growth of the Food & Beverages Global Industry over the forecast period 2022-2027.
Food & Beverages Market Report Coverage
The “Food & Beverages Market Report - Forecast (2022-2027)" by IndustryARC, covers an in-depth analysis of the following segments in the Food & Beverages Market.
By Nature: Organic and Conventional.
By Type: Alcoholic beverages, Non-alcoholic beverages, Grain Products, Bakery & Confectionery, Other Foods Products, Frozen, Canned and Dried Food, Dairy Food, Meat, Poultry and Seafood, Syrup, Seasoning Oils, Animal and Pet Food, Tobacco Products and Others.
By Distribution Channels: Supermarkets, Hypermarkets, E-commerce and Others.
By Geography: North America (the U.S., Canada and Mexico), Europe (Germany, the U.K., France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).
Key Takeaways
- Geographically, Asia-Pacific held a dominant market share in the year 2021, owing to the large consumer base and changing lifestyle of consumers. These factors boost the growth of the Food & Beverages Global Market size.
- The Food & Beverages Global Market is predicted to grow due to the increasing demand for carbonated soft drinks, snack foods, baked goods, staple food and caffeinated drinks. However, the high competition and strict regulatory authority are major restrictions that may limit market growth over the forecast period 2022-2027.
- A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Food & Beverages Global Market Report.
Food & Beverages Global Market: Market Share (%) by region, 2021
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Food & Beverages Market Segment Analysis- by Nature
Food & Beverages Global Market based on nature can be further segmented into organic and conventional. The conventional segment held a dominant market share in the year 2021. This is owing to the high global demand for food & beverages such as carbonated soft drinks, snack foods, baked goods, staple food and caffeinated drinks which can only be fulfilled with conventional sources of food & beverages. With conventional practice, one can give assurance of production with considering minimal loss owing to insects and disease as a result of the application of chemical fertilizers and pesticides and insecticides. Thus, the rising demand for conventional raw materials by the food processing industry to supply processed food in the market is driving the Food & Beverages Global Market size.
However, the Organic segment is estimated to grow with the fastest CAGR of 6.4% over the forecast period 2022-2027. This is owing to increasing consumer awareness about the bad effect of pesticides and insecticides used in conventional farm practice. Owing to the higher nutritious properties of conventional food and health benefit, most consumers preferred organic food & beverages. According to food navigator, the sale of natural and organic food & beverages would surpass $300 billion by 2024 and $400 billion by 2030 in the U.S. market. Such high demand for organic Food & Beverages fuels market growth over the forecast period 2022-2027.
Food & Beverages Market Segment Analysis - by Distribution Channel
Food & Beverages Global Market based on the distribution channel can be further segmented into Supermarkets, Hypermarkets, E-commerce Websites and others. The Supermarkets segment held a dominant market share in the year 2021. This is owing to a large chain of supermarkets spread over the world. Most of the market players who produce food & beverage products sell their products with the help of distributors and retailers. According to U.S. Census Bureau, the food service and retail sales in April 2022 were $677.7 billion and there were 279,611 retail businesses in the U.S. in 2022. Such increasing sales by retail stores, such as supermarkets and the growing number of retail businesses drive the growth of the Food & Beverages Global Market Share.
However, E-commerce is estimated to grow with the fastest CAGR of 7.6% over the forecast period 2022-2027. This is owing to the high penetration of the internet across the world and the presence of key market players and leading online retailers like Amazon, Walmart and Alde on the web. E-commerce experienced a hike in sales in the past few years owing to the outbreak of COVID-19. According to the United Nations Conference on Trade and Development report published in May 2021, global e-commerce sales hiked above $26.7 trillion owing to COVID-19. According to Forbes, e-commerce would account for 20.4% of global retail sales by the end of 2022. Such increasing preference for e-commerce by consumers fuels the growth of the Food & Beverages Global Market Share over the forecast period 2022-2027.
Food & Beverages Market Segment Analysis - by Geography
The Food & Beverages Global Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. The Asia Pacific held a dominant market share of 35% in the year 2021. This is owing to a large number of consumers in this region and the demand for healthy and ready-to-eat food. Also, the increasing number of products such as carbonated soft drinks, snack foods, baked goods, staple food and caffeinated drinks in this region leads to market growth. According to a report by Kantar, based on interviews with 12,000 Chinese consumers living in Tier-1 to 6 cities, aged from 18 to 60 years old, 64% of consumers are concerned about healthy food and food safety. 56% reported that eating or drinking becomes a way to relieve emotional tension. Such an increasing demand for healthy food and beverage in this region surge the growth of the Food & Beverages Global Market Share.
Furthermore, Europe is estimated to grow with the fastest CAGR over the forecast period 2022-2027. Owing to the increasing demand for healthy organic food and increasing per capita income. According to European Commission, organic agriculture practice is increasing in the European Union and it is the result of increased consumer interest in organic products. Also, in March 2021, European Commission launched new legislation about the action plan for organic production, which helps to boost the organic food and beverage market in Europe. According to a report published by the United States Department of Agriculture, sell of organic goods in Europe reach $56.5 billion with a 15% increase year over year in 2020. Such high consumer preference for organic products and high per capita income help fuel the growth of Food & Beverages Global Market Share over the forecast period 2022-2027.
Food & Beverages Market Drivers
Increase in Per Capita Income and Change in Lifestyle:
An increasing number of health-conscious people who are concerned about a healthy lifestyle and prefer to eat and drink natural, healthy and organic food products are driving the market. According to the Economic Research Service of the U.S. Department of Agriculture, consumer demand for organic produce would show double-digit growth in 2022 and there are nearly about 20,000 natural food stores in the U.S., which show demand for organic produce in the U.S. Healthy, natural and organic produce is costly compared to conventional products like carbonated soft drink, snack foods, baked goods, staple food and caffeinated drink, but people are willing to pay a premium price for good health. According to the country’s economy, the U.S. per capita GDP is $16,359 which is higher than last year’s $2,553. Such increasing per capita income and healthy eating habits would drive the Food & Beverages Global Industry.
Growing Trend of Clean Labelling:
There is a growing trend of clean labeling, due to a growth in customer concern for simple and less synthetic chemicals on product labels. It is a vital contributor to the overall industry expansion. Unhealthy ingredients, such as chemical formulas of synthetic chemicals, are not listed on clean labels. In 2021, sales of clean label ingredients like natural colors & flavors, fruits & vegetables, starch and sweeteners go up to $38.8 billion. As per food & beverages insight, 73% of consumers are happy to pay extra for clean-label products in 2019. Such an increasing trend of clean-label products would be driving the Food & Beverages Global Industry over the forecast period 2022-2027.
Food & Beverages Market Challenge
Strict Regulatory Framework with Labour Shortage:
Food & Beverages are directly consumed by humans or pets. To ensure the security of such products, various regulatory authorities are set to observe the implementation of rules and regulations by the companies. Recently in 2022, FDA redefine ‘Healthy’ as specific levels of total fat, saturated fat, cholesterol and sodium. In April 2022, FDA introduced Baby Food Safety Act to consumer class action lawsuits. In South Korea, the government proposed draft regulations to label the origin of raw materials for all imported agriculture, aquaculture and processed foods. This draft was first announced in May 2021. Owing to safety concerns, FDA recalls 50+ food & beverage products from the market. Also, the shortage of skilled labor is one of the biggest challenges in the food and beverage industry. As per Food Network Magazine, 130,000 jobs in packaged goods industry in the U.S. remain vacant in 2021. Such strict regulations and a lack of skilled labor in the Food & Beverage industry may hamper market growth over the forecast period 2022-2027.
Food & Beverages Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Food & Beverages Global Market. The top 10 companies in the Food & Beverages Market are:
- Nestle S.A.
- JBS S.A.
- PepsiCo Inc.
- Anheuser-Busch InBev sa/nv
- Tyson Foods Inc.
- Wilmar International Ltd.
- Archer-Daniels-Midland Company (ADM)
- The Coca-Cola Company
- Imperial brands plc.
- Mars Incorporated
Recent Developments
- In June 2022, The Coca-Cola Company extended its partnership for five years with Essence Communication, a leading media, technology and commerce company dedicated to serving Black women and communities. The expanded agreement would encompass all ESSENCE media and content properties — including ESSENCE Black Women in Hollywood, ESSENCE Wellness House, ESSENCE Fashion House and ESSENCE Girls United — with activations that span several Coca-Cola brands and create a year-round connection with multiple generations.
- In February 2022, Wilmar International Ltd collaborated with MSM Malaysia Holdings Berhad (MSM) to establish a sustainable sugar supply chain. SM and Wilmar Sugar would embark on joint efforts to assist and support each other to pilot an approach to enable sustainable raw sugar sourcing within MSM and Wilmar Sugar’s joint supply chain. The goal is to focus on traceability reporting of sugar supplies and monitoring of sustainability performance based on the NDPE Sugar Policy.
- In November 2021, Archer-Daniels-Midland Company (ADM), a global leader in nutrition and agricultural origination and processing, announced the acquisition of Sojaprotein, a leading European provider of non-GMO soy ingredients. The addition represented a significant expansion of ADM’s global alternative protein capabilities and its ability to meet the growing demand for plant-based food & beverages.
Relevant Titles
Report Code: FBR 0036
Report Code: FBR 0400
Report Code: FBR 0002
For more Food and Beverage Market reports, please click here
1. Food & Beverages Market - Overview
1.1 Definitions and Scope
2. Food & Beverages Market - Executive Summary
3. Food & Beverages Market - Comparative Analysis
3.1 Company Benchmarking – Key Companies
3.2 Global Financial Analysis – Key Companies
3.3 Market Share Analysis – Key Companies
3.4 Patent Analysis
3.5 Pricing Analysis
4. Food & Beverages Market - Start-up Companies Scenario Premium
4.1 Investment
4.2 Revenue
4.3 Venture Capital and Funding Scenario
5. Food & Beverages Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Case Studies of Successful Ventures
6. Food & Beverages Market - Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porter's Five Force Model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Food & Beverages Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Food & Beverages Market – by Nature
8.1 Organic
8.2 Conventional
9. Food & Beverages Market – by Type
9.1 Alcoholic beverages
9.2 Non-alcoholic beverages
9.3 Grain Products
9.4 Bakery & Confectionery
9.5 Frozen
9.6 Canned and Dried Food
9.7 Dairy Food
9.8 Meat
9.9 Poultry and Seafood
9.10 Syrup
9.11 Seasoning Oils
9.12 Animal and Pet Food
9.13 Tobacco Products
9.14 Others
10. Food & Beverages Market – by Distribution Channel
10.1 Supermarkets
10.2 Hypermarkets
10.3 E-commerce
10.4 Others
11. Food & Beverages Market - by Geography
11.1 North America
11.1.1 The U.S.
11.1.2 Canada
11.1.3 Mexico
11.2 Europe
11.2.1 The U.K.
11.2.2 Germany
11.2.3 France
11.2.4 Italy
11.2.5 Spain
11.2.6 Russia
11.2.7 The Rest of Europe
11.3 Asia-Pacific
11.3.1 China
11.3.2 India
11.3.3 Japan
11.3.4 South Korea
11.3.5 Australia & New Zealand
11.3.6 The Rest of Asia-Pacific
11.4 South America
11.4.1 Brazil
11.4.2 Argentina
11.4.3 Chile
11.4.4 Colombia
11.4.5 The Rest of South America
11.5 The Rest of the World
11.5.1 The Middle East
11.5.2 Africa
12. Food & Beverages Market - Entropy
13. Food & Beverages Market – Industry/Segment Competition Landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Region – Key companies
13.1.2 Market Share by Countries – Key Companies
13.2 Competition Matrix
13.3 Best Practices for Companies
14. Food & Beverages Market – Key Company List by Country Premium Premium
15. Food & Beverages Market - Company Analysis
15.1 Company 1
15.2 Company 2
15.3 Company 3
15.4 Company 4
15.5 Company 5
15.6 Company 6
15.7 Company 7
15.8 Company 8
15.9 Company 9
15.10 Company 10
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES
1.Global Food And Beverages MARKET, BY TYPE Market 2019-2024 ($M)1.1 Food Market 2019-2024 ($M) - Global Industry Research
1.2 Beverages Market 2019-2024 ($M) - Global Industry Research
2.Global Food And Beverages MARKET, BY TYPE Market 2019-2024 (Volume/Units)
2.1 Food Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Beverages Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Food And Beverages MARKET, BY TYPE Market 2019-2024 ($M)
3.1 Food Market 2019-2024 ($M) - Regional Industry Research
3.2 Beverages Market 2019-2024 ($M) - Regional Industry Research
4.South America Food And Beverages MARKET, BY TYPE Market 2019-2024 ($M)
4.1 Food Market 2019-2024 ($M) - Regional Industry Research
4.2 Beverages Market 2019-2024 ($M) - Regional Industry Research
5.Europe Food And Beverages MARKET, BY TYPE Market 2019-2024 ($M)
5.1 Food Market 2019-2024 ($M) - Regional Industry Research
5.2 Beverages Market 2019-2024 ($M) - Regional Industry Research
6.APAC Food And Beverages MARKET, BY TYPE Market 2019-2024 ($M)
6.1 Food Market 2019-2024 ($M) - Regional Industry Research
6.2 Beverages Market 2019-2024 ($M) - Regional Industry Research
7.MENA Food And Beverages MARKET, BY TYPE Market 2019-2024 ($M)
7.1 Food Market 2019-2024 ($M) - Regional Industry Research
7.2 Beverages Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Food And Beverages Global Market Revenue, 2019-2024 ($M)2.Canada Food And Beverages Global Market Revenue, 2019-2024 ($M)
3.Mexico Food And Beverages Global Market Revenue, 2019-2024 ($M)
4.Brazil Food And Beverages Global Market Revenue, 2019-2024 ($M)
5.Argentina Food And Beverages Global Market Revenue, 2019-2024 ($M)
6.Peru Food And Beverages Global Market Revenue, 2019-2024 ($M)
7.Colombia Food And Beverages Global Market Revenue, 2019-2024 ($M)
8.Chile Food And Beverages Global Market Revenue, 2019-2024 ($M)
9.Rest of South America Food And Beverages Global Market Revenue, 2019-2024 ($M)
10.UK Food And Beverages Global Market Revenue, 2019-2024 ($M)
11.Germany Food And Beverages Global Market Revenue, 2019-2024 ($M)
12.France Food And Beverages Global Market Revenue, 2019-2024 ($M)
13.Italy Food And Beverages Global Market Revenue, 2019-2024 ($M)
14.Spain Food And Beverages Global Market Revenue, 2019-2024 ($M)
15.Rest of Europe Food And Beverages Global Market Revenue, 2019-2024 ($M)
16.China Food And Beverages Global Market Revenue, 2019-2024 ($M)
17.India Food And Beverages Global Market Revenue, 2019-2024 ($M)
18.Japan Food And Beverages Global Market Revenue, 2019-2024 ($M)
19.South Korea Food And Beverages Global Market Revenue, 2019-2024 ($M)
20.South Africa Food And Beverages Global Market Revenue, 2019-2024 ($M)
21.North America Food And Beverages Global By Application
22.South America Food And Beverages Global By Application
23.Europe Food And Beverages Global By Application
24.APAC Food And Beverages Global By Application
25.MENA Food And Beverages Global By Application