A new report from The Business Research Company (TBRC) provides expert data on global food and beverage market growth, drivers, and trends.
The following includes a few key highlights from the report:
- Latest food and beverage market forecasts: The global food and beverage market size is expected to grow from $5.8 trillion in 2021 to $6.4 trillion in 2022 at a growth rate of 9.7%. The food and beverage market size is expected to grow to $8.9 trillion in 2026 at a compound annual growth rate of 8.7%.
- Top distribution channels: The food and beverage market is segmented by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, and other channels. The supermarkets/hypermarkets market was the largest segment of the food and beverages market segmented by distribution channel, accounting for 58.7% of the total in 2021. Going forward, the e-commerce segment is expected to be the fastest growing segment in the food and beverages market segmented by distribution channel, at a CAGR of 13.2% during 2021-2026.
- Key market opportunities: The top opportunities in the food and beverages market segmented by distribution channel will arise in the supermarkets/hypermarkets market segment, which will gain $895.4 billion of global annual sales by 2026. In addition, the organic food and beverage market and functional food and beverage market segments stand out as the health concerns of consumers continue to drive trends.
- Influential food and beverage industry trends: The demand for clean label products is increasing rapidly, owing to a significant rise in awareness of healthy eating. Clean label products do not contain additives, artificial flavor enhancers, dyes, or artificial preservatives. Also, many food service and retail grocery store chains are stating lists of ingredients that cannot be present in food items in their stores or restaurants. Many manufacturers and producers are also increasingly using natural ingredients and have reduced the use of artificial colors and flavors. Another key trend is the increased demand for functional beverages, with many individuals seeking specialized drinks to stay hydrated and maintain nutritional balance. To capitalize on this segment, companies are introducing fortified beverages such as functional juices, and functional water with health benefits, such as water balance, weight management, and improved digestion.
Further regional information on key drivers, opportunities, and strategies can be found in TBRC’s Food and Beverages Stores Global Market Report 2022, one of a series of reports from The Business Research Company that provides food and beverages market overviews, analyzes and forecasts food and beverages market size, food and beverages market players, food and beverages market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
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