From feeding a staggering $8.2 trillion global appetite to shaping tomorrow's sustainable, tech-driven dinner plate, the consumer goods food and beverage industry is a dynamic behemoth where every sip and bite tells a story of shifting tastes, monumental scale, and relentless innovation.
Key Takeaways
- Global food and beverage market size reached $8.2 trillion in 2023, growing at a CAGR of 5.6% from 2018-2023
- US food and beverage industry revenue hit $1.47 trillion in 2022
- Beverage segment of consumer goods market valued at $1.9 trillion globally in 2023
- 45% of US consumers aged 18-34 prefer plant-based alternatives daily
- 62% of global consumers seek low-sugar beverages, up 15% since 2020
- 71% of millennials prioritize sustainable packaging in food purchases
- Global wheat production hit 784 million metric tons in 2022/23
- US corn output for food/beverage reached 15.1 billion bushels 2023
- Global sugar production 182 million tons in 2022/23 season
- Global US F&B industry revenue $901 billion in 2023, up 4.2%
- Nestle SA food/bev sales CHF 93 billion in 2023
- PepsiCo revenue $91.5 billion in 2023, beverages 42%
- Global F&B waste management costs $1 trillion annually
- 33% reduction in water usage per liter of beverage by Coca-Cola since 2010
- 92% of Nestle packaging recyclable by 2025 target progress 85% in 2023
The global food and beverage market is a multi-trillion dollar industry driven by health and sustainability trends.
Consumer Behavior
- 45% of US consumers aged 18-34 prefer plant-based alternatives daily
- 62% of global consumers seek low-sugar beverages, up 15% since 2020
- 71% of millennials prioritize sustainable packaging in food purchases
- US snack consumption increased 12% among Gen Z post-pandemic
- 55% of Europeans reduced meat intake for health reasons in 2023
- 68% of consumers worldwide read nutrition labels more frequently since 2021
- Online grocery shopping penetration reached 25% in US households 2023
- 40% of Asian consumers prefer functional beverages for immunity
- Home meal replacement demand up 28% among working parents globally
- 52% of US consumers avoid artificial sweeteners in drinks
- Craft beverage preference rose 35% among 25-40 age group in Europe
- 67% of women globally choose low-calorie snacks weekly
- Delivery app usage for food/beverages tripled in urban India 2022-2023
- 59% of Boomers increased organic food purchases in 2023 US
- Premium water consumption up 22% driven by flavored variants globally
- 74% of consumers influenced by health claims on packaging
- Vegan product trial rate 31% among non-vegans in UK 2023
- 48% prefer ready-to-eat meals for convenience in Brazil
- Alcohol consumption occasions shifted 40% to at-home globally post-2020
- 63% of parents buy kid-friendly low-sugar cereals US
- Mood-boosting drinks sought by 39% of young adults Europe
- 51% reduced soda intake for diet soda alternatives 2023 US
- Ethnic food adoption 29% higher among urban millennials globally
- 70% loyalty to brands with transparent sourcing info
- Coffee pod usage daily for 28% of US households 2023
- 44% experiment with fermented foods for gut health
- RTD cocktail preference up 55% among 21-34 in US
- 56% choose recyclable packaging over plastic-free claims
Consumer Behavior Interpretation
The modern consumer is a walking paradox, simultaneously ordering artisanal plant-based meals with mood-boosting drinks while guiltily snacking more and demanding that the recyclable package tell them exactly how virtuous their indulgence is.
Financial Performance
- Global US F&B industry revenue $901 billion in 2023, up 4.2%
- Nestle SA food/bev sales CHF 93 billion in 2023
- PepsiCo revenue $91.5 billion in 2023, beverages 42%
- Coca-Cola net revenue $45.8 billion 2023
- Anheuser-Busch InBev revenue €59.4 billion 2023
- Unilever food & refreshment €26.8 billion 2023
- Mondelez EBITDA $7.5 billion 2023 on $36B revenue
- Diageo sales £17.1 billion fiscal 2023
- Kraft Heinz revenue $26.6 billion 2023
- Constellation Brands Q4 FY2023 revenue $2.1B, full year $9.9B
- Tyson Foods sales $52.9 billion 2023
- General Mills net sales $20.1 billion FY2023
- Keurig Dr Pepper revenue $14.8 billion 2023
- Campbell Soup Co revenue $9.4 billion FY2023
- US dairy industry wholesale value $126 billion 2022
- Global F&B e-commerce sales $712 billion 2023
- Danone revenue €27.6 billion 2023
- Heineken revenue €30.6 billion 2023
- Kellogg net sales $15.3 billion 2023
- Brown-Forman revenue $4.2 billion FY2023
- US craft beer sales $28.9 billion 2022
- Lactalis group revenue €28.3 billion 2022
- Pernod Ricard sales €12.1 billion FY2023
- Hershey revenue $11.2 billion 2023
- Molson Coors revenue $11.7 billion 2023
- F&B plastic packaging market $42 billion 2023
- US organic food sales $67.6 billion 2023 est.
Financial Performance Interpretation
Despite humanity's noble quest for health and sustainability, the $900+ billion global food and beverage industry remains a delightful paradox, where a $67.6 billion organic kale salad can be washed down with a $28.9 billion craft beer, all while neatly packaged in a $42 billion plastic coffin.
Market Overview
- Global food and beverage market size reached $8.2 trillion in 2023, growing at a CAGR of 5.6% from 2018-2023
- US food and beverage industry revenue hit $1.47 trillion in 2022
- Beverage segment of consumer goods market valued at $1.9 trillion globally in 2023
- Packaged food market worldwide expected to reach $4.1 trillion by 2030 at 5.2% CAGR
- Alcoholic beverages market size was $1.6 trillion in 2023
- Non-alcoholic beverages market grew to $1.2 trillion globally in 2022
- Organic food and beverage sales in US reached $62 billion in 2022, up 12.4%
- Asia-Pacific food and beverage market projected to grow at 7.1% CAGR to 2028
- Convenience food market size $578 billion in 2023 globally
- Dairy products market valued at $837 billion worldwide in 2022
- Snack food market reached $503 billion globally in 2023
- Bottled water market size $301 billion in 2023, growing 8.9% CAGR
- Energy drinks market valued at $59.8 billion in 2023
- Plant-based beverage market $29 billion globally in 2022
- Frozen food market size $284 billion in 2023
- Craft beer segment reached $116 billion worldwide in 2023
- Ready-to-drink tea market $54 billion in 2022
- Confectionery market valued at $220 billion globally in 2023
- Functional beverages market $158 billion in 2023
- Meat substitutes market $7.4 billion in 2023, growing 22% CAGR
- Yogurt market size $112 billion worldwide in 2022
- Soft drinks market $496 billion globally in 2023
- Bakery products market $496 billion in 2023
- Wine market valued at $340 billion in 2023
- Health and wellness food market $1 trillion globally in 2023
- E-commerce food and beverage sales $250 billion in US 2023
- Pet food market $123 billion worldwide in 2023
- Meal kit delivery market $10.5 billion in 2023 US
- Spirits market $582 billion globally in 2023
- Canned food market $85 billion in 2023
Market Overview Interpretation
Our collective, insatiable appetite for everything from bottled water to plant-based milk proves that feeding a planet of eight billion is a multi-trillion dollar business built on one simple, perpetual truth: we are all, constantly, just looking for our next snack.
Production Statistics
- Global wheat production hit 784 million metric tons in 2022/23
- US corn output for food/beverage reached 15.1 billion bushels 2023
- Global sugar production 182 million tons in 2022/23 season
- Dairy milk production worldwide 881 million tons in 2022
- Brazil soybean output 155 million metric tons for oils 2023
- Global coffee production 170 million 60kg bags in 2022/23
- US beer production 170 million barrels in 2022
- Tea leaf production India 1.39 million tons 2022
- Global meat production 359 million tons in 2022
- Vegetable oil production worldwide 200 million tons 2022/23
- China rice production 212 million tons 2022
- EU wine production 147 million hectoliters 2022
- US soft drink concentrate production up 2.5% to 12.9 billion gallons 2022
- Global cocoa bean production 5.1 million tons 2022/23
- Potato production worldwide 376 million tons 2022
- Orange juice concentrate output Brazil 1.1 million tons 2022/23
- Global bottled water production 600 billion liters 2023 est.
- US bakery products output $80 billion value 2022
- Palm oil production Indonesia 46 million tons 2022
- Yogurt production EU 25 million tons annually avg. 2022
- Snack food manufacturing output US $40 billion 2023
- Global spirits distillation 28 billion liters pure alcohol 2022
- Apple production for juice China 45 million tons 2022
- Frozen ready meals production EU 4.5 million tons 2022
- Craft distillery output US 30 million cases 2023
Production Statistics Interpretation
Judging by these staggering numbers, humanity's prime directive appears to be a highly organized, planet-wide effort to turn soil and sunlight into an astonishing variety of things we can sip, crunch, spread, and pour, proving that our species runs not on love or money, but on an endlessly inventive food chain.
Sustainability and Innovation
- Global F&B waste management costs $1 trillion annually
- 33% reduction in water usage per liter of beverage by Coca-Cola since 2010
- 92% of Nestle packaging recyclable by 2025 target progress 85% in 2023
- Plant-based product launches up 60% globally 2020-2023
- Food industry carbon emissions 34% of global total
- 50% of EU F&B companies adopted circular economy practices by 2023
- Precision agriculture adoption in F&B supply chain 25% yield increase
- Biodegradable packaging market $8.4 billion 2023 F&B
- Zero-waste facilities in F&B reached 1,200 globally 2023
- Regenerative agriculture on 10 million hectares by PepsiCo partners 2023
- 70% reduction in food waste via AI forecasting in Unilever ops 2023
- Insect protein innovation market $1.2 billion projected 2025
- Blockchain traceability in F&B supply chains used by 15% large firms 2023
- Renewable energy 45% of Diageo manufacturing power 2023
- Lab-grown meat R&D investment $2.8 billion cumulative 2023
- Sustainable sourcing 96% cocoa for Barry Callebaut 2023
- Water stewardship programs saved 2 trillion liters industry-wide 2010-2023
- Edible packaging trials in 50 F&B prototypes 2023
- Carbon labeling on 20% EU F&B products by 2025 interim 12% 2023
- Vertical farming output 2 million tons produce annually 2023
- 3D printed food innovations in 500+ products tested 2023
- Beverage industry recycled PET 62% globally 2022
- Methane capture from dairy farms reduced emissions 30% in 100 US sites
- AI-driven inventory cut spoilage 25% in Walmart F&B 2023
- Upcycled ingredients in 1,500 F&B SKUs 2023
- Solar-powered processing plants 15% of global F&B capacity 2023
- Fermentation tech for alt-proteins scaled to 100k tons 2023
- FSC-certified paperboard packaging 80% for Tetra Pak cartons 2023
Sustainability and Innovation Interpretation
The industry is frantically planting a sustainable forest, but we're still awkwardly figuring out how to stop setting our own money on fire to clear the land for it.
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