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Food and Beverages Market Opportunities and Strategies to 2034

Description 

This report describes and explains the food and beverages market and covers 2019-2024, termed the
historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across
each region and for the major economies within each region.

The global food and beverages market reached a value of nearly $6.68 trillion in 2024, having grown at a
compound annual growth rate (CAGR) of 5.41% since 2019. The market is expected to grow from $6.68
trillion in 2024 to $8.87 trillion in 2029 at a rate of 5.82%. The market is then expected to grow at a CAGR of
5.54% from 2029 and reach $11.61 trillion in 2034.
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Growth in the historic period resulted from the increasing demand for ready-to-eat food, increasing health
GOT IT!
consciousness, rising e-commerce and online food delivery and growing consumer preference for organic
products. Factors that negatively affected growth in the historic period were fluctuating raw material prices
and legal actions against misinformation and false advertising.

Going forward, the increasing focus on sustainability and ethical practices, the rising interest in plant-based
foods, biodegradable and eco-friendly packaging and expansion of alternative protein option will drive the
growth. Factor that could hinder the growth of the food and beverages market in the future include stringent
regulations and bans and climate change and global warming.

Asia-Pacific was the largest region in the food and beverages market, accounting for 37.69% or $2.52 trillion
of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going
forward, the fastest-growing regions in the food and beverages market will be Africa and Middle East where
growth will be at CAGRs of 9.99% and 9.16% respectively. These will be followed by Western Europe and
Eastern Europe where the markets are expected to grow at CAGRs of 6.07% and 5.75% respectively.

The global food and beverages market is fragmented, with a large number of small players operating in the
market. The top ten competitors in the market made up to 9.33% of the total market in 2023. Nestlé S.A was
the largest competitor with a 1.60% share of the market, followed by PepsiCo Inc with 1.45%, Anheuser-
Busch InBev with 0.94%, Tyson Foods Inc with 0.85%, Archer-Daniels-Midland Company (ADM) with 0.82%,
JBS S.A with 0.81%, Mars Incorporated with 0.75%, The Coca-Cola Company with 0.73%, Cargill Inc with
0.71% and Imperial brands plc with 0.65%.

The food and beverages market is segmented by type into alcoholic beverages, non-alcoholic beverages,
grain products, bakery and confectionery, frozen, canned and dried food, dairy food, meat, poultry and
seafood, syrup, seasoning, oils, & general food, animal and pet food, tobacco products and other types. The
meat, poultry and seafood market was the largest segment of the food and beverages market segmented by
type, accounting for 23.21% or $1.55 trillion of the total in 2024. Going forward, the animal and petfood
segment is expected to be the fastest growing segment in the food and beverages market segmented by
type, at a CAGR of 7.60% during 2024-2029.

The food and beverages market is segmented by nature into organic and conventional. The conventional
market was the largest segment of the food and beverages market segmented by nature, accounting for
87.43% or $5.84 trillion of the total in 2024. Going forward, the organic segment is expected to be the fastest
growing segment in the food and beverages market segmented by nature, at a CAGR of 8.24% during 2024-
2029.

The food and beverages market is segmented by distribution channel into supermarkets or hypermarkets,
convenience stores, e-commerce and other channels. The supermarkets or hypermarkets market was the
largest segment of the food and beverages market segmented by distribution channel, accounting for
46.15% or $3.08 trillion of the total in 2024. 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
9.90% during 2024-2029.
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The top opportunities in the food and beverages markets segmented by type will arise in the meat, poultry
and seafood segment, which will gain $505.35 billion of global annual sales by 2029. The top opportunities
in the food and beverages markets segmented by nature will arise in the conventional segment, which will
gain $1.77 trillion of global annual sales by 2029. The top opportunities in the food and beverages markets
segmented by distribution channel will arise in the supermarkets or hypermarkets segment, which will gain
$814.34 billion of global annual sales by 2029. The food and beverages market size will gain the most in the
USA at $410.93 billion.

Market-trend-based strategies for the food and beverages market include focus on introducing new
andouille smoked sausage with bold new flavor, focus on refreshing decaf cold brew perfect for caffeine-free
coffee experience, focus on convenient protein breakfast choices for health-conscious eaters, focus on
introducing unique macaron-based dessert or every occasion and focus on innovative peanut butter cups
with no chocolate top.

Player-adopted strategies in the food and beverages market include focus on expanding business
capabilities through innovative products to expand its operational capabilities.

To take advantage of the opportunities, the analyst recommends the food and beverages to focus on
expanding regional flavor profiles to broaden product appeal, focus on expanding caffeine-free product lines
to meet growing consumer demand, focus on developing convenient protein-rich breakfast solutions, focus
on innovating gluten-free dessert offerings for special occasions, focus on healthier snacking alternatives in
premium segments, focus on expanding in the animal and pet food segment, expand in emerging markets,
continue to focus on developed markets, focus on expanding omni-channel distribution networks, focus on
competitive tiered pricing with value differentiation, focus on targeted digital engagement to increase
consumer reach, focus on loyalty programs to drive repeat purchases and focus on targeting consumer
preferences in the food and beverage market.

Table of Contents
1. Executive Summary EXPAND ALL

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

 6. Introduction and Market Characteristics

7. Product/Service Analysis - Product/Service Examples

 8. Supply Chain Analysis

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 9. Customer Information

 10. Major Market Trends

 11. Global Food And Beverages Market Size And Growth

 12. Food And Beverages Market, Regional Analysis

 13. Global Market Segmentation

 14. Food And Beverages Market Segments

 15. Market Comparison with Macro Economic Factors

 16. Asia-Pacific Market

 17. Western Europe Market

 18. Eastern Europe Market

Executive Summary
Food and Beverages Global Market Opportunities and Strategies to 2034 provides the strategists; marketers
and senior management with the critical information they need to assess the global food and beverages
market as it emerges from the COVID-19 shut down.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50
geographies.

Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow
as the impact of the virus abates.

Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.

Outperform competitors using forecast data and the drivers and trends shaping the market.

Understand customers based on the latest market research findings.

Benchmark performance against key competitors.

Utilize the relationships between key data sets for superior strategizing.

Suitable for supporting your internal and external

READpresentations
MORE with reliable high-quality data and
anal sis

Companies Mentioned
The companies
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best experience. Learn more
Nestlé S.A
PepsiCo Inc
 Anheuser-Busch InBev

Tyson Foods Inc.

Archer-Daniels-Midland Company (ADM)

JBS S.A.

Mars Incorporated

The Coca-Cola Company

Cargill Inc.
Imperial brands plc

Arnott's Group

Bega Cheese
Bundaberg Brewed Drinks

Storia Foods & Beverages READ MORE

Table Information

Report Attribute Details

No. of Pages 657

Published April 2025

Forecast Period 2024 - 2034

Estimated Market Value ( USD ) in 2024 $ 6.68 Billion

Forecasted Market Value ( USD ) by 2034 $ 11.61 Billion

Compound Annual Growth Rate 5.7%

Regions Covered Global

No. of Companies Mentioned 108

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