Food And Beverages Market Characteristics
The food and beverages market consists of sales of beverages, food, pet food and tobacco products by entities (organizations, sole traders and partnerships) that produce beverages, food, pet food and tobacco products. The companies in the food and beverages industry process raw materials into food, pet food and tobacco products, package and distribute them through various distribution channels to both individual customers and commercial establishments.
Competitive Landscape of the Food And Beverages Market
Major players in the global food and beverages market include processed food, soft drinks, ice creams, bread and bakery product, poultry processing, tobacco product, wineries, distilleries and breweries.
Food And Beverages Market Size
The food and beverages market size is expected to reach $5 trillion by 2022, significantly growing at a CAGR of around 3% during the forecast period. The growth in the food and beverages market is due to increasing population, strong economic growth and rising disposable income in many emerging countries.
However, the market for food and beverages is expected to face certain restraints from several factors such as weak wage growth in developed economies and changing regulatory environment.
Food And Beverages Market Segmentation
The global food and beverages market is further segmented based on type and geography.
By Type - The food and beverages market is segmented into meat, poultry and seafood, bakery & confectionary, alcoholic – beverages, dairy, tobacco products, non-alcoholic – beverages, frozen and fruit & veg, syrup, seasoning, oils, & general food, grain products, and pet food. Among these segments, the meat, poultry and seafood market accounts for the largest share in the global food and beverages market.
By Geography - The global food and beverages is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific food and beverages market accounts the largest share in the global food and beverages market.
Trends in the Food And Beverages Market
Shift to natural ingredients, functional drinks for hydration and nutritional benefits and rise in micro distilled/artisan spirits are the major trends witnessed in the global food and beverages market.
Potential Opportunities in the Food And Beverages Market
With increasing organic food consumption, increase in demand for food and beverages due to rapid urbanization, positive economic growth outlook in many developed and developing countries, rising disposable income the scope and potential for the global food and beverages market is expected to significantly rise in the forecast period.