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Explosive Growth in the Global Food and Beverages Market Driven by Smart Technology and Urbanization
Food And Beverages Market Size
What Is The Projected Market Size Of The Global Food And Beverages Market And Its Growth Rate?
The robust food and beverages market is projected to see considerable growth in the upcoming years. Here are the key statistics:
•2024 Market Size: $6962.47 billion
•2025 Market Size: $7400.31 billion (With a CAGR of 6.3%)
•2029 Market Size: $9423.34 billion (With a CAGR of 6.2%)
The driving factors behind this growth include strong economic growth in emerging markets, internet penetration, rising disposable income, smartphone usage, rapid urbanization, and new payment options.
What Is Driving The Growth In The Food And Beverages Market?
The profit margins of food and beverage companies are expected to be boosted by lower raw material costs resulting from overcapacity and falling crop prices globally. For instance, India rolled out a bailout package in November 2022 to help stabilize sugar prices which had dropped due to overproduction. The consequence of such steps is likely to be higher profit margins for food and beverage companies, enabling them to increase productivity and propelling the market forward.
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Who Are The Key Players Driving Food And Beverages Market Growth?
Key players 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
What Are The Key Trends In The Food And Beverages Market?
Prominent trends in the food and beverages market include:
•Rising subscription products
•Mobile shopping of groceries
•Technological development
•Partnerships and collaborations
•Buy now, pay later (bnpl) schemes
What Are The Segments Of The Global Food And Beverages Market?
Segments of the global food and beverages market include:
•Type: Alcoholic - Beverages, Non-Alcoholic - Beverages, Grain Products, Bakery And Confectionery, Frozen, Other Foods Products
•Nature: Organic, Conventional
•Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, E-Commerce, Other Channels
Which Region Leads The Food And Beverages Market?
Asia-Pacific had the largest share in the food and beverages market as of 2024, closely followed by Western Europe. Market expansion is expected across all regions including Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Food And Beverages Market Global Market Report?
- Market Size Analysis: Analyze the Food And Beverages Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Food And Beverages Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Food And Beverages Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Food And Beverages Market.
- Competitive Developments: Analyze competitive developments, like expansions, agreements, and new product launches in the market.
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