A Comprehensive Global Food And Beverages Industry Outlook: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast
LONDON, Aug. 22, 2023 /PRNewswire/ -- The most recent food and beverages industry forecast from the Global Market Model regarding the food and beverages market indicates an anticipated Compound Annual Growth Rate (CAGR) of 6.4% during the period spanning from 2022 to 2032. Several influential factors, including the escalating demand for individual quick freezing (IQF) techniques, the rise in consumption of organic foods, the increasing popularity of convenience foods, and the adoption of advanced cigarette filter technologies, are poised to drive food and beverages industry demand within the food and beverages industry over the forecasted timeframe.
Market Size in the Food and Beverages Sector
Based on the analysis conducted by the Global Market Model, the worldwide food and beverages market achieved a valuation of $6,702.4 billion in 2022, accounting for a notable 6.7% of the global Gross Domestic Product (GDP). Notably, the meat, poultry, and seafood segment stood as the largest within the food and beverages industry segments, constituting 22.2% of the total in 2022. China emerged as the primary market within the food and beverages sector, capturing a significant 19.5% share of the total in 2022.
This market is expected to experience a Compound Annual Growth Rate (CAGR) of 6.4% from 2022 to 2032. This upswing in food and beverages industry growth can be attributed to various factors including:
- Escalating demand for individual quick freezing
- Rising consumption of organic foods
- Growing popularity of convenience foods
- Utilization of advanced cigarette filter technologies
Gain more insights into the food and beverages industry trends with a free consultation:
Future Food And Beverages Industry Analysis
The forecast for the food and beverages market retains a substantial level of stability compared to the prior year-end 2022 projection. The previous update factored in supply chain disruptions affecting wheat, sunflower seed, barley, and maize due to the Russia-Ukraine conflict, along with elevated inflation that led to short-term price hikes for consumer goods. These considerations were already integrated during the earlier forecast update. Additionally, the forecast anticipated these prices to stabilize in the long term as supply chain pressures eased. Consequently, the market projections have maintained their stability throughout this update cycle.
The Global Market Model extends insights into key industry indicators relevant to the food and beverages sector, including:
- Quantity of enterprises
- Quantity of employees
- Primary meat from livestock
Learn more about pivotal trends within the food and beverages industry through the Global Market Model, which stands as the world's most comprehensive database of integrated market information - https://www.thebusinessresearchcompany.com/global-market-model/demo-request
The Global Market Model stands as the most extensive repository of market forecasts globally. These forecasts, encompassing over 7000 markets, are regularly updated on a quarterly basis, taking into consideration economic, geopolitical, and sector-specific factors. The current projection, executed in June 2023, has revised the prior forecasts made in December 2022.
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