Global Food and Beverage
Market Report
2024
Food and Beverage Market size will be USD 6684.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.80% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Food and Beverage market size is USD 6684.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.80% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Food and Beverage Market Sales Revenue 2024 | $ 6684.2 Million |
Global Food and Beverage Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.8% |
North America Food and Beverage Market Sales Revenue 2024 | $ 2673.68 Million |
North America Food and Beverage Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
Europe Food and Beverage Market Sales Revenue 2024 | $ 2005.26 Million |
Europe Food and Beverage Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.3% |
Asia Pacific Food and Beverage Market Sales Revenue 2024 | $ 1537.37 Million |
Asia Pacific Food and Beverage Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.8% |
South America Food and Beverage Market Sales Revenue 2024 | $ 334.21 Million |
South America Food and Beverage Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.2% |
Middle East and Africa Food and Beverage Market Sales Revenue 2024 | $ 133.68 Million |
Middle East and Africa Food and Beverage Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.5% |
Market Split by Type |
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Market Split by Application |
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Market Split by Distribution Channel |
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Market Split by Nature |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Food and Beverage industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Food and Beverage Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The production, distribution, and consumption of consumable goods and beverages are all included in the food and beverage market. It is a huge and varied industry that includes several business sectors, including manufacturing, distribution, retail, processing, and agriculture. Multinational companies and small-scale producers are examples of important actors. Government laws, dietary trends, customer preferences, economic situations, and technology improvements all impact this sector. It includes various goods, such as packaged foods, fresh produce, alcoholic and non-alcoholic drinks, snacks, and more. In addition, the business increasingly emphasizes sustainability, health, and well-being in response to increased consumer demands for morally and nutritionally sound solutions. The food and beverage industry is constantly evolving due to globalization and shifting consumer preferences, which presents possibilities and difficulties for supply chain participants.
The increasing number of people on the planet is driving up demand for food and drink, particularly in developing countries where disposable incomes are rising. There is a proportional increase in the demand for food and drink as more people enter the consumer market. The need for agricultural and food production systems to develop and adapt to satisfy growing demands is highlighted by this trend. Furthermore, it emphasizes how important sustainable practices are to ensuring food security over the long term and reducing environmental impacts. To address these issues and create resilient and equitable food systems that can meet the demands of an expanding population while preserving the planet's resources for future generations, governments, businesses, and communities must work together.
Convenient, ready-to-eat food and beverages are in high demand due to urbanization and the spread of hectic lives. The need for easy and convenient food options has increased as more people live in cities and manage busy schedules. As a result of this trend, the availability of packaged foods, frozen dinners, and grab-and-go options has increased, appealing to consumers who want convenience without sacrificing flavor or nutrition. With urbanization driven by social and economic considerations, the portable food and beverage product market is expected to grow even further. In response to changing customer tastes, food producers and distributors are coming up with new and inventive ways to provide a wide range of easily accessible products that meet the needs of both busy lifestyles and urban residents.
Increased food costs are frequently caused by changes in the price of agricultural commodities, which are made worse by supply chain interruptions and extreme weather. These dynamics, especially for vulnerable people, can substantially impact affordability and consumer purchasing. When staple foods rise in price, households might have to spend more of their income to cover their fundamental nutritional needs, leaving them with less money to spend on other necessities. Furthermore, rising food prices have the potential to worsen food insecurity, increasing the likelihood of poverty and malnourishment in impacted areas. Businesses, civil society, and governments must tackle these issues by strengthening the food systems' resilience, reducing price volatility, and guaranteeing that all societal segments have fair access to reasonably priced and nutrient-dense food.
The COVID-19 pandemic has had a significant global impact on the food and beverage industry. Industry landscapes have been changed by lockdowns, supply chain disruptions, and changing customer behaviors. Due to closures and limitations, the restaurant and food service industries suffered large losses; yet, as people stored up and increased their home cooking, there was a boom in demand for packaged and shelf-stable items. When more and more individuals shopped for groceries and meals online, e-commerce and delivery services grew unprecedentedly. Furthermore, there is now more interest in immune-boosting and functional foods due to safety and health concerns. The sector keeps adapting as the epidemic changes, focusing on sustainability, innovation, and safety measures to satisfy shifting customer demands and negotiate the unpredictabilities of a post-COVID market.
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Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
Top Companies Market Share in Food and Beverage Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America's food and beverage industry is booming and is distinguished by a wide variety of goods and shifting consumer tastes. The region is steadily expanding and strongly focusing on quality, sustainability, and innovation. Its growth is fueled by various factors, including changing dietary patterns, rising disposable incomes, and a thriving food service business. The resilience and adaptability of this market support its ongoing growth and worldwide competitiveness.
The Europe region is witnessing an increase in the sales of reagents. The food and beverage industry in Europe is expanding rapidly, driven by growing customer demand for high-quality and health-conscious goods, technological developments, and an emphasis on sustainability. Diverse cuisine cultures and the region's rich culinary legacy support innovation and product differentiation. Moreover, supportive regulatory environments and rising R&D spending further encourage market expansion and competitiveness.
The current report Scope analyzes Food and Beverage Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Food and Beverage market size was estimated at USD 6684.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 2673.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. The food and beverage industry in North America is a vibrant and varied environment defined by innovation, a wide range of consumer preferences, and changing tastes. Driven by growing health consciousness and environmental concerns, the region has a burgeoning organic food segment that places a high focus on sustainability and quality. Growing consumer demand for organic goods presents profitable prospects for both growers and merchants. With strong regulatory frameworks and a culture of culinary innovation, North America's food and beverage business is well-positioned for sustainable development as consumers emphasize health and wellness.
Country Analysis
According to Cognitive Market Research, with a market value of USD 6684.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 2005.26 million. With a focus on quality and sustainability, as well as rich culinary traditions, the European food and beverage business is dynamic and diversified. The need for decadent sweets and exquisite craftsmanship among European consumers has made the luxury chocolate segment stand out in this market. Premium chocolate manufacturers flourish in Europe by catering to discriminating palates and changing consumer expectations, with an emphasis on innovation and ethical sourcing. The European food and beverage sector continues to be a center of innovation and potential for both existing players and up-and-coming businesses, as long as the region prioritizes quality and authenticity.
According to Cognitive Market Research, the global Food and Beverage market size was estimated at USD 6684.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1537.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031. The numerous cultures, gastronomic traditions, and economic prosperity of the Asia Pacific region have molded the dynamic and continuously expanding landscape of the food and beverage business. Due to the region's ingrained tradition of drinking tea and the rising demand for specialized and premium teas, the tea sector stands out among its segments. Consumer demand for more distinctive and high-quality tea experiences is fueling market expansion and innovation as a result of the expanding middle class and increased disposable incomes. Asia Pacific's food and beverage market offers businesses a lot of opportunity to take advantage of the region's varied tastes and preferences while managing its complexity as it continues to urbanize and modernize.
According to Cognitive Market Research, the global Food and Beverage market size was estimated at USD 6684.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 334.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. The food and beverage industry in Latin America is a thriving, diverse industry that is influenced by a wide range of cultures and changing customer tastes. Fruit juice takes the lead in this industry due to the region's abundance of tropical fruits and rising health consciousness. Demand for fresh fruit juices and mixes is being driven by consumers' desire for natural and nutrient-dense beverage options throughout Latin America. Fruit juice producers have a great opportunity to innovate and take advantage of the distinctive flavors and preferences of the region as the region's economy and urbanization continue to grow. This will help to fuel the general expansion and vibrancy of Latin America's food and beverage market.
According to Cognitive Market Research, the global Food and Beverage market size was estimated at USD 6684.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 133.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. The food and beverage industry in the Middle East and Africa is a varied and quickly growing field that is impacted by a range of factors including changing customer preferences, economic expansion, and cultural variety. The dates segment is a notable contribution to this market, owing to the region's rich agricultural past and the widespread appeal of this adaptable and nutritious fruit. Demand for dates and date-based goods is rising as customers look for healthier and more natural options; this presents producers and exporters with profitable potential. The food and beverage market in the Middle East and Africa is still well-positioned for growth and innovation due to ongoing urbanization and shifting lifestyles.
Global Food and Beverage Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Food and Beverage Industry growth. Food and Beverage market has been segmented with the help of its Type, Application Distribution Channel, and others. Food and Beverage market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Breakfast Cereals held the major market share over the forecast period. Globally, the morning cereal market is expanding significantly due to shifting customer preferences, growing health consciousness, and greater convenience. Manufacturers are experimenting with novel flavors, healthier ingredients, and practical package styles to meet changing consumer expectations. The market is developing due to the expansion of distribution channels and rising consumer knowledge of the nutritional advantages of breakfast cereals. This presents a lot of potential for companies in the industry.
Savory Snacks are the fastest-growing category over the forecast period. Globally, the savory snack market is expanding at an astounding rate thanks to urbanization, busy lives, and shifting customer preferences. Customers are pushing innovation in product offers and flavors because they want snack options that are tasty, indulgent, and handy. Additionally, growing retail distribution channels and rising disposable incomes support market expansion. Savory eating is gaining popularity and offers industry participants profitable prospects as it gets increasingly embedded in everyday routines.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Food and Beverage Industry. Request a Free Sample PDF!
According to Cognitive Market Research, Organic holds a prominent market share. Globally, the organic food and beverages market is expanding quickly, driven by rising consumer awareness of environmental and health sustainability. Customers seek organic goods without chemicals, synthetic pesticides, and genetically modified organisms (GMOs). Growing worries about food safety and sustainability, along with a growing taste for natural, healthful foods, are the driving forces behind this trend. The organic market offers manufacturers and merchants many chances as product demand rises.
Conventional is the fastest-growing category over the forecast period. The global market for traditional food and beverages is still growing due to several causes, including urbanization, population increase, and shifting dietary preferences. Due to their familiarity, cost, and ease of use, traditional, non-organic products continue to be preferred by consumers. Furthermore, well-established marketing plans and distribution networks support market expansion. The market continues to present steady prospects for manufacturers and retailers as long as traditional food and beverage products are in high demand.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Food and Beverage market report 2024 Edition by contacting our team.
According to Cognitive Market Research, Supermarkets hold a prominent market share and are a major factor in the global food and beverage market's expansion. By bringing a wide selection of products under one roof, supermarkets provide consumers with convenience, variety, and competitive pricing. Their wide reach, effective supply networks, and tactical marketing initiatives facilitate market expansion. Supermarkets are also important venues for launching new goods and meeting changing consumer demands, which promotes continued expansion.
Hypermarkets are the fastest-growing category over the forecast period. Hypermarkets, known for their wide range of products and convenient one-stop shopping, are significant players in the growing food and beverage industry. These massive retail companies meet customer needs by utilizing economies of scale, effective logistics, and prime locations. Hypermarkets contribute to the food and beverage industry's ongoing growth and expansion by driving large sales volume with their expansive spaces and wide variety of products.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
EU Agriculture Commissioner Janusz Wojciechowski is focusing on increasing agri-food exports to China and avoiding food-related tensions in China-EU trade. He stated that there are no barriers for Chinese imports in the food trade and aims to avoid agriculture paying the costs of other sectors' problems. Wojciechowski's visit comes as China and Europe face a "slow motion train accident" as protectionism threatens to become a full trade war. The EU's agri-food sector runs an export surplus in its trade with China, and the open trade of food remains a crucial instrument for food security. Last year, the EU's exports to China were worth 14.6 billion euros ($15.57 billion), down 8% from 2022. Wojciechowski believes there is room for exports to grow across various agri-food sectors, including poultry, pork, beef, and dairy.
The popularity of liqueurs and eaux de vie has steadily increased over the years due to various factors. Consumers can access unique flavors, superior quality drinks, and health benefits.
Disclaimer:
Type | Breakfast Cereals , Savory Snacks , Ingredients , Pet Foods , Naturally Healthy Beverages , Ready Meals , Confectionary , Organic Food , Dairy Food , Bakery , Others |
Application | Organic , Conventional |
Distribution Channel | Supermarkets , Hypermarkets , E-commerce , Others |
Nature | Organic, Conventional |
List of Competitors | 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. |
This chapter will help you gain GLOBAL Market Analysis of Food and Beverage. Further deep in this chapter, you will be able to review Global Food and Beverage Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Food and Beverage Market Trends North America Food and Beverage Technological Road Map North America Food and Beverage Market Drivers North America Food and Beverage Market Restraints North America Food and Beverage Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
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Chapter 13 Market Split by Nature Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Food and Beverage market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Breakfast Cereals have a significant impact on Food and Beverage market? |
What are the key factors affecting the Breakfast Cereals and Savory Snacks of Food and Beverage Market? |
What is the CAGR/Growth Rate of Organic during the forecast period? |
By type, which segment accounted for largest share of the global Food and Beverage Market? |
Which region is expected to dominate the global Food and Beverage Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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