How Has The Food And Beverages Market Size Evolved Historically?
The food and beverages market has seen considerable growth due to a variety of factors.
• Significant growth has been observed in the food and beverages market size over the past few years. The market value is expected to rise from $6962.47 billion in 2024 to $7400.31 billion in 2025, marking a compound annual growth rate (CAGR) of 6.3%.
The expansion during the historical period can be accredited to the robust economic expansion in emerging markets, heightened internet access, and a surge in disposable income.
What is the Forecasted Growth of the Food And Beverages Market Size?
The food and beverages market is expected to maintain its strong growth trajectory in upcoming years.
• The food and beverages industry forecast predicts a robust increase in market size in the upcoming years. The market is anticipated to expand to $9423.34 billion by 2029, with a compound annual growth rate of 6.2%.
The expected growth during this period is due to factors such as the surge in smartphone usage, swift urbanization, and the emergence of novel payment methods. The period will also witness significant trends such as the popularity of subscription products, mobile grocery shopping, advancements in technology, partnerships and collaborations, and the rising adoption of ‘buy now, pay later' (bnpl) schemes.
What Are the Critical Driver Fuelling the Food And Beverages Market's Growth?
A global decrease in crop prices due to a surplus in production is likely to reduce raw material expenses for businesses in the food and drink industry. For example, Frontline, an Indian national agriculture magazine, reported in November 2022 that the Cabinet Committee on Economic Affairs announced a Rs 7000 crore aid package to help farmers engaged in the production of sugar. This was in response to falling sugar prices (which recently dropped to Rs 23-24 per kilogram), aiming to establish a minimum sale price for refined sugar at Rs 29 per kilogram and to build a safety stock of 3 million tons of sugar for a year. This excess production of certain crops could lead to higher profit margins for companies in the food and beverage sector, ultimately encouraging market growth by enabling these companies to boost their productivity.
What Is The Segmentation Of The Global Food And Beverages Market?
The food and beverages market covered in this report is segmented –
1) By Type: Alcoholic – Beverages, Non-Alcoholic – Beverages, Grain Products, Bakery And Confectionery, Frozen, Other Foods Products
2) By Nature: Organic, Conventional
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, E-Commerce, Other Channels
Subsegments:
1) By Alcoholic Beverages: Beer, Wine, Spirits, Ciders, Ready-To-Drink Cocktails
2) By Non-Alcoholic Beverages: Soft Drinks, Juices, Bottled Water, Coffee And Tea, Energy Drinks
3) By Grain Products: Rice, Wheat, Oats, Barley, Corn-Based Products
4) By Bakery And Confectionery: Bread, Cakes And Pastries, Biscuits And Cookies, Chocolates And Candies, Doughnuts
5) By Frozen Foods: Frozen Vegetables, Frozen Meat And Seafood, Frozen Ready Meals, Frozen Desserts, Frozen Pizzas
6) By Other Food Products: Dairy Products, Sauces And Condiments, Snack Foods, Spices And Seasonings, Packaged Meals
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What Emerging Trends Are Shaping The Food And Beverages Market?
Technologies like individual quick freezing (IQF) are being employed by frozen food producers to enhance both the yield and quality of their products. In the IQF process, each food item is individually transferred into a rapid freezer via a conveyor belt. These items are individually frozen, distinguishing this method from bulk or block freezing, which in turn, enhances the yield by 1.5-3%. It facilitates higher quality products with elevated nutritional values and reduces wastage. Items such as blueberries, strawberries, peaches, corn, peas, and green beans are typical examples of IQF foods. Expectations suggest that the global IQF vegetable market might hit the $2 billion mark by 2026, a clear indication of the future demand for IQF food items.
Who Are the Key Players in the Food And Beverages Market?
Major companies operating in the food and beverages market include:
• Nestle S.A
• PepsiCo. Inc
• JBS S.A
• Anheuser-Busch InBev
• Tyson Foods Inc
• Archer-Daniels-Midland Company (ADM)
• Mars. Incorporated
• Imperial brands plc
• The Coca-Cola Company
• Cargill
• Dabur
• Amul
• Asahi Soft Drinks Co Ltd
• Red Bull
• Del Monte fresh produce Ltd
• Fonterra Meiji Co Ltd
• Dali Foods Group Co Ltd
• Hangzhou Wahaha Group Co. Ltd
• Nongfu Spring
• China Haisheng Juice Holdings Co Ltd
• Britannia Industries Ltd
• Otsuka Holdings Co Ltd
• Suntory Beverage & Food Ltd
• Glanbia
• Plc
• Royal Frieslandcampina N. V
• Raisio PLC
• Associated British Foods
• Boparan Holdings
• Arla Foods
• Greencore Convenience Foods
• Südzucker AG
• Tonnies Group
• Dr. August Oetker Nahrungsmittel KG
• KHS Group
• Sicuro Food
• Valagro
• Gastronomic SPAIN
• Mondelez UK
• Refresco Tate & Lyle
• Diageo
• Roust Corporation
• Cherkizovo Group
• GoodMills Group GmbH
• European Drinks S. A
• Penam
• Vitana
• Metarom Group
• Košík
• Rudolf Jelinek
• General Mills
• The Hain Celestial Group
• Campbell Soup Company
• Maple Leaf
• Olymel
• Elmira Pet Products Ltd
• Adams & Brooks Inc
• The Kraft Heinz Company
• Dr. Pepper Snapple Group
• Hearthside Food Solutions LLC
• Grupo Petrópolis
• Monster Energy Co
• Rockstar Inc
• Unilever
• Arcor
• Starbucks
• Agrosuper
• Ambev
• Almarai Company
• Arab Company for Livestock Development (ACOLID)
• Al-Watania Company
• Agthia Group PJSC
• AWJ
• South Beach Beverage Co Inc
• Abu Auf Group
• Lifeway Foods
• Arizona Beverages Company
• Twiga Foods
• Cadbury Nigeria
• FrieslandCampina WAMCO Nigeria PLC
• CHI Limited
• Nigerian Breweries Plc
• SABMiller
What are the Regional Insights into the Food And Beverages Market?
Asia-Pacific was the largest region in the food and beverages market in 2024. Western Europe was the second-largest region of the food and beverages market. The regions covered in the food and beverages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
