Categories: Food & Beverages

Food And Beverages Market Size, Insights, Outlook, and Overview by 2024-2033

Overview and Scope

Foods are defined as processed products of plants, and animals that contain essential nutrients such as protein, carbohydrates, fat, and other nutrients consumed by humans. Beverages are defined as potable drinks which have thirst quenching refreshing, stimulating, and nourishing properties.

Sizing and Forecast

The food and beverages market size has grown strongly in recent years. It will grow from $6576.96 billion in 2023 to $7000.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. 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 $8817.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. 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)..

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Segmentation & Regional Insights

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/Hypermarkets, Convenience Stores, E-Commerce, Other Channels

Sub segments: Beer (Breweries), Wine And Brandy (Wineries), Spirits (Distilleries), Coffee And Tea, Soft Drink And Ice, Flour, Rice And Malt, Other Grain Products, Sugar And Confectionery Products, Cookie, Cracker, Pasta And Tortilla, Bread And Bakery Products, Breakfast Cereal, Frozen Food, Canned, And Ambient Food, Milk And Butter, Ice Cream And Frozen Dessert, Cheese, Dry, Condensed, And Evaporated Dairy Products, Meat Products, Poultry, Seafood, Fats And Oils, Seasoning And Dressing, Flavouring Syrup And Concentrate, Animal Food, Pet Food, Cigarettes, Cigars And Cigarillos, Smoking And Other Tobacco Products, Perishable Prepared Food, Snack Food, All Other Miscellaneous Food

Asia-Pacific was the largest region in the food and beverages market in 2023. 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

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Major Driver Impacting Market Growth

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 instance, in November 2022, according to the report Frontline, an India-based national magazine on agriculture, the bailout package of Rs 7000 crore, announced by the Cabinet Committee on Economic Affairs, for farmers involved in the sugar production sectors to fix the minimum selling price of refined sugar of Rs 29 per kilogram (prices dropped to Rs 23-24 recently due to overproduction and to create a buffer stock of 3 million tons of sugar for one year. Thus, the 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.

Key Industry Players

Major companies operating in the food and beverages market report are 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.

The food and beverages market report table of contents includes:

1. Executive Summary

2. Food And Beverages Market Characteristics

3. Food And Beverages Product/Service Analysis -Product/Service Examples

4. Food And Beverages Market Trends And Strategies

5. Food And Beverages Market – Macro Economic Scenario

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68. Global Food And Beverages Market Competitive Benchmarking

69. Global Food And Beverages Market Competitive Dashboard

70. Key Mergers And Acquisitions In The Food And Beverages Market

71. Food And Beverages Market Future Outlook and Potential Analysis

72. Appendix