PUBLISHER: The Business Research Company | PRODUCT CODE: 1672356
PUBLISHER: The Business Research Company | PRODUCT CODE: 1672356
Foods encompass processed products derived from plants and animals, containing essential nutrients such as protein, carbohydrates, fat, and other elements vital for human consumption. Beverages are characterized as potable drinks with properties that quench thirst, provide refreshment, stimulation, and nourishment.
The primary categories of food and beverages include alcoholic beverages, non-alcoholic beverages, grain products, bakery & confectionary items, frozen products, and others. Alcoholic beverages consist of drinks containing varying levels of alcohol (ethanol). The characteristics of food and beverages span organic and conventional options, and their distribution occurs through various channels such as supermarkets/hypermarkets, convenience stores, e-commerce, and others.
The food and beverages research report is one of a series of new reports from The Business Research Company that provides food and beverages statistics, including food and beverages industry global market size, regional shares, competitors with food and beverages share, detailed food and beverages segments, market trends and opportunities, and any further data you may need to thrive in the food and beverages industry. This food and beverages research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The food and beverages market size has grown strongly in recent years. It will grow from $6962.47 billion in 2024 to $7400.31 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing internet penetration, and rising disposable income.
The food and beverages market size is expected to see strong growth in the next few years. It will grow to $9423.34 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increase in smart phone users, rapid urbanization, and new payment modes. Major trends in the forecast period include rising subscription products, mobile shopping of grocery, technological development, partnerships, and collaborations and buy now, pay later (bnpl).
Numerous countries worldwide are witnessing a decline in crop prices due to overcapacity, which is expected to lead to lower raw material costs for food and beverage companies. As reported by the India-based national magazine on agriculture, Frontline, in November 2022, the Cabinet Committee on Economic Affairs announced a Rs 7000 crore bailout package for farmers in the sugar production sector. This initiative aimed to establish a minimum selling price of refined sugar at Rs 29 per kilogram, responding to recent price drops to Rs 23-24 due to overproduction. The plan also included creating a buffer stock of 3 million tons of sugar for one year. Consequently, the overproduction of certain crops is likely to result in higher profit margins for food and beverage companies, enabling them to enhance productivity and drive the market forward.
The increasing disposable income is anticipated to drive the growth of the food and beverage market. Disposable income is defined as the amount of money that an individual or household has available for spending and saving after taxes have been deducted from their gross income. Individuals with higher disposable income tend to spend more on premium, specialty, and healthier food and drink options. This shift results in increased consumer spending, more frequent dining out, and a greater interest in exploring new culinary experiences. For example, in September 2024, the Office for National Statistics, a UK-based government agency, reported that the median household disposable income rose by 2.3% to $17,730 (£16,400) due to government support measures aimed at alleviating the cost of living. In comparison, the mean household disposable income for the wealthiest fifth of the population was six times higher than that of the poorest fifth, with figures around $82,900 and $15,000, respectively. Consequently, the rise in disposable income is expected to propel the growth of the food and beverage market in the future.
Frozen food manufacturers are adopting technologies such as individual quick freezing (IQF) to enhance the yield and quality of their products. The IQF method involves rapidly freezing individual food items on a conveyor belt in a blast freezer. This technique freezes each piece of food separately, as opposed to bulk or block freezing, resulting in increased yield (1.5-3%) and better-quality products with high nutritional value and reduced wastage. Examples of IQF foods include fruits such as blueberries, strawberries, and peaches, as well as vegetables such as corn, peas, and green beans. The global IQF vegetable market is projected to reach $2 billion by 2026, indicating substantial demand for IQF food products in the future.
Major companies in the food and beverage market are concentrating on developing innovative products, including clean-label items, vegan cheeses, egg substitutes, and more, to fortify their positions. Plant-based food and drink, derived from plants such as vegetables, fruits, whole grains, nuts, seeds, legumes, fungi, and algae, offer a range of health benefits. In July 2022, Century Pacific Food, Inc., a Philippines-based food and beverage company, introduced the innovative plant-based alternative 'unMEAT Fish-free Tuna.' This 100% fish-free product utilizes plant-based, non-GMO ingredients, offering a low-fat alternative with zero mercury and trans-fat content. The product replicates the taste, texture, and appearance of tuna without any fish components.
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, Sudzucker 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, Kosik, 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 Petropolis, 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
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
The countries covered in the food and beverages market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The food and beverages market consists of sales of beer, wine and brandy, spirits, coffee and tea, soft drink and ice, flour, rice and malt, breakfast cereal, sugar and confectionery products, bread and bakery products, cookie, cracker, pasta, and tortilla, perishable prepared food, snack food, frozen food, canned and ambient food, milk and butter, cheese, dry, condensed, and evaporated dairy products, ice cream and frozen dessert, meat products, poultry, seafood, flavoring syrup and concentrate, seasoning and dressing, fats and oils, pet food, animal food, cigarettes, cigars and cigarillos, smoking and other 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 on-trade and off-trade establishments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Food And Beverages Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food and beverages market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food and beverages ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The food and beverages market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.