The global food and beverages market is expected to grow from $5,817.4 billion in 2021 to $6,383.49 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to grow to $8,905.5 billion in 2026 at a compound annual growth rate (CAGR) of 8.7%.
- 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
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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.
The main type of food and beverages are alcoholic – beverages, nonalcoholic – beverages, grain products, bakery & confectionary, other foods products, frozen, canned and dried food, dairy food, meat, poultry and seafood, syrup, seasoning, oils, & general food, animal and pet food, and tobacco products. Alcoholic beverages include beverages that contain varying amounts of alcohol (ethanol). The various types of distribution channels are supermarkets/hypermarkets, convenience stores, e-commerce, and Other Distribution Channels. The different types of natures include organic and conventional.
Asia Pacific was the largest region in the food and beverages market in 2021. Western Europe was the second-largest region of the food and beverages market. The regions covered in the food and beverages market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Many countries across the globe are experiencing falling prices of crops due to overcapacity; this is expected to result in low raw material costs for food and beverage companies. For example, in 2019, the Indian government spent $873 million to subsidize the export of sugar as a result of the overproduction of sugarcane, thereby reducing prices. Thus, overproduction of certain crops is likely to result in higher profit margins for food and beverage companies. Higher profit margins will enable food and beverage companies to increase their productivity and drive the market going forward.
Frozen food manufacturers are using technologies such as individual quick freezing (IQF) to improve the yield and quality of frozen foods. The IQF method involves transferring the individual food items on a conveyor belt into a blast freezer that quickly freezes the items. With the IQF method, every individual piece of food is frozen separately, as opposed to bulk or block freezing. This method boosts yield by 1.5-3% and results in better quality products with high nutritional value and less wastage. Examples of IQF foods include fruits such as blueberries, strawberries, and peaches, and vegetables such as corn, peas, and green beans. The global IQF vegetable market is expected to reach $2 billion by 2026, thus indicating significant demand for IQF food products in the future.
The countries covered in the food and beverages market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
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