Key Takeaways
- The global food and beverage market was valued at USD 7.12 trillion in 2023 and is expected to grow at a CAGR of 6.2% from 2024 to 2030, driven by rising demand for convenience foods.
- In 2023, the U.S. food and beverage industry generated revenue of $1.2 trillion, accounting for 5.5% of the national GDP.
- The beverage segment of the global F&B market reached $1.8 trillion in 2022, with non-alcoholic drinks growing at 5.1% CAGR.
- 68% of consumers prefer plant-based alternatives for health reasons in 2023 surveys.
- 42% of U.S. millennials consume meat alternatives weekly as of 2023.
- Demand for low-sugar beverages rose by 25% among Gen Z in 2023.
- Global food production reached 3.9 billion metric tons in 2022.
- U.S. processed food output grew 2.1% in 2023.
- World milk production hit 881 million metric tons in 2022.
- Global supply chain disruptions affected 40% of F&B companies in 2023.
- Food transportation costs rose 15% globally due to fuel prices in 2022.
- 30% of fresh produce wasted in supply chains worldwide in 2023.
- F&B industry employed 22 million in U.S. in 2023.
- Global F&B manufacturing workforce 30 million in 2022.
- U.S. restaurant jobs totaled 15.9 million in 2023.
The food and beverage industry is a massive and growing global market driven by consumer demand for health and convenience.
Consumer Preferences
- 68% of consumers prefer plant-based alternatives for health reasons in 2023 surveys.
- 42% of U.S. millennials consume meat alternatives weekly as of 2023.
- Demand for low-sugar beverages rose by 25% among Gen Z in 2023.
- 55% of global consumers seek sustainable packaging in food purchases in 2023.
- Organic food purchases increased 8.7% YoY in Europe in 2022.
- 37% of consumers prioritize convenience foods post-pandemic in 2023.
- Functional beverages consumption up 15% among health-conscious adults in U.S. 2023.
- 62% of shoppers read nutrition labels more frequently since 2020.
- Vegan product sales grew 27% in the UK in 2022.
- 49% of consumers willing to pay premium for eco-friendly products in 2023.
- Ready-to-drink coffee popularity surged 12% globally in 2023.
- 71% of parents seek kid-friendly healthy snacks in 2023.
- Low/no alcohol beer consumption doubled in Europe 2020-2023.
- 58% of consumers prefer locally sourced foods in 2023 surveys.
- Keto diet followers increased snack choices by 18% in U.S. 2023.
- 64% of women prioritize protein-enriched beverages.
- Home delivery of groceries rose to 22% of total sales in 2023.
- 45% of seniors opt for fortified foods for nutrition.
- Spicy flavor trends boosted sauce sales by 14% in 2023.
- 52% of consumers avoid artificial additives.
- Gut health products saw 30% preference increase in 2023.
- 39% prefer gluten-free options even without intolerance.
- Energy drink consumption among women up 20% in 2023.
- 67% of families choose allergen-free products.
- Mood-boosting beverages gained 25% traction in 2023.
- 51% prioritize non-GMO labels in purchases.
Consumer Preferences Interpretation
Employment & Economic Impact
- F&B industry employed 22 million in U.S. in 2023.
- Global F&B manufacturing workforce 30 million in 2022.
- U.S. restaurant jobs totaled 15.9 million in 2023.
- Food processing sector added 200,000 jobs in India 2023.
- EU food and drink industry employs 4.7 million directly.
- Wages in U.S. F&B manufacturing averaged $55,000 annually 2023.
- 10% labor shortage in U.S. food processing plants 2023.
- Women comprise 40% of F&B workforce globally.
- Brazil's F&B sector generated 1.2 million jobs in 2022.
- Turnover per employee in U.S. F&B $450,000 in 2023.
- Youth employment in agriculture-food chain 60% in developing countries.
- U.K. food manufacturing employs 430,000 people in 2023.
- Automation displaced 5% of manual jobs in F&B 2020-2023.
- Average tenure in F&B retail 4.2 years U.S. 2023.
- China F&B industry supports 100 million jobs indirectly.
- Injury rate in food processing 3.2 per 100 workers 2023.
- Gig economy workers in food delivery 5 million globally 2023.
- Skilled labor demand up 25% for sustainability roles.
- Australia F&B exports support 250,000 jobs.
- Unionization rate in U.S. F&B 4.5% in 2023.
- Remote work in F&B admin roles 15% adoption.
- Training investment per employee $1,200 annually average.
- Diversity in leadership 28% women in top F&B firms.
- Economic contribution of F&B to GDP 10% in developing nations.
- Overtime hours averaged 5 per week in peak seasons.
- Apprenticeships in EU F&B 100,000 annually.
- Turnover rate 45% in quick-service restaurants U.S. 2023.
- F&B startups created 50,000 jobs in U.S. 2023.
- Migrant workers 25% of harvest labor in U.S.
- Productivity per worker up 3% with digital tools.
Employment & Economic Impact Interpretation
Market Size & Revenue
- The global food and beverage market was valued at USD 7.12 trillion in 2023 and is expected to grow at a CAGR of 6.2% from 2024 to 2030, driven by rising demand for convenience foods.
- In 2023, the U.S. food and beverage industry generated revenue of $1.2 trillion, accounting for 5.5% of the national GDP.
- The beverage segment of the global F&B market reached $1.8 trillion in 2022, with non-alcoholic drinks growing at 5.1% CAGR.
- Europe's food market size stood at €1.4 trillion in 2023, with packaged foods comprising 45% of total sales.
- Asia-Pacific F&B market is projected to reach $4.5 trillion by 2028, fueled by urbanization and middle-class expansion.
- U.S. organic food sales hit $62 billion in 2022, up 12.4% from previous year.
- Global ready-to-eat food market valued at $200.9 billion in 2023, expected to grow to $321.3 billion by 2030 at 6.8% CAGR.
- Plant-based food market reached $29.4 billion globally in 2020, projected to $162 billion by 2030.
- U.S. craft beer market revenue was $28.9 billion in 2022.
- Global soft drinks market size was $428.4 billion in 2022, with a forecasted CAGR of 4.9% through 2030.
- Dairy products market globally valued at $837 billion in 2023.
- Confectionery market worldwide reached $220 billion in 2023.
- Global meat substitutes market was $7.4 billion in 2023, growing at 13.9% CAGR.
- U.S. bottled water market revenue hit $40.5 billion in 2023.
- Functional beverages market valued at $158.4 billion globally in 2023.
- Global bakery products market size was $495.5 billion in 2022.
- Snack food market in North America reached $110 billion in 2023.
- Global energy drinks market valued at $59.30 billion in 2023, projected to $108.25 billion by 2032.
- Frozen food market worldwide was $284.2 billion in 2023.
- U.K. food and drink manufacturing turnover was £111 billion in 2022.
- Global coffee market size stood at $132.13 billion in 2023.
- Tea market globally valued at $57.08 billion in 2023.
- Global wine market revenue was $350 billion in 2023.
- Spirits market worldwide reached $582 billion in 2023.
- U.S. restaurant industry sales hit $899 billion in 2022.
- Global pet food market valued at $103 billion in 2023.
- Functional food market size was $275.5 billion in 2023.
- Global sauces and condiments market at $161.3 billion in 2023.
- Edible oils market worldwide valued at $212.8 billion in 2023.
- Global pasta market size was $13.2 billion in 2023.
Market Size & Revenue Interpretation
Production & Manufacturing
- Global food production reached 3.9 billion metric tons in 2022.
- U.S. processed food output grew 2.1% in 2023.
- World milk production hit 881 million metric tons in 2022.
- Global meat production was 359 million tons in 2023.
- Cereal production worldwide reached 2.8 billion tons in 2023.
- U.S. bakery production volume was 12.5 million tons in 2022.
- Global bottled water production exceeded 600 billion liters in 2023.
- Vegetable oil production stood at 200 million metric tons globally in 2022/23.
- World sugar production was 182 million tons in 2022/23.
- U.S. soft drink production volume hit 12.3 billion gallons in 2022.
- Global beer production reached 1.92 billion hectoliters in 2022.
- Poultry meat production worldwide was 137 million tons in 2023.
- Dairy processing capacity in EU averaged 250 million tons annually in 2023.
- Global canned food production exceeded 100 billion units in 2023.
- Fruit juice production worldwide was 45 million tons in 2022.
- U.S. snack food manufacturing output value $50 billion in 2023.
- World cocoa production hit 5.1 million tons in 2022/23.
- Frozen food production in Asia grew to 50 million tons in 2023.
- Global pasta production was 14.5 million tons in 2022.
- U.K. beverage manufacturing produced 20 billion liters in 2022.
- Seafood production globally reached 223 million tons in 2022.
- Nut production worldwide was 4.2 million tons in 2023.
- Bread production in U.S. averaged 22 billion loaves annually in 2023.
- Global cheese production hit 26 million tons in 2023.
- Confectionery production volume worldwide 200 million tons in 2022.
- U.S. wine production was 965 million gallons in 2022.
- Global yogurt production exceeded 20 million tons in 2023.
- Edible ice production in EU 15 million tons annually.
- World soybean production 391 million tons in 2023/24.
- U.S. pet food production reached 12 million tons in 2023.
Production & Manufacturing Interpretation
Supply Chain & Logistics
- Global supply chain disruptions affected 40% of F&B companies in 2023.
- Food transportation costs rose 15% globally due to fuel prices in 2022.
- 30% of fresh produce wasted in supply chains worldwide in 2023.
- U.S. cold chain logistics market valued at $25 billion in 2023.
- Global food packaging material usage hit 200 million tons in 2022.
- Port congestion delayed 20% of beverage imports in 2023.
- Traceability tech adopted by 65% of large F&B firms in 2023.
- Inventory levels in F&B supply chains averaged 45 days in 2023.
- Air freight for perishables grew 10% YoY in 2023.
- 25% reduction in food waste targeted via smart logistics by 2030.
- U.K. food imports reliance at 46% of total consumption in 2022.
- Blockchain pilots cut fraud by 50% in seafood chains 2023.
- Rail transport share for grains 40% in U.S. 2023.
- Sustainable sourcing practices in 55% of cocoa supply chains.
- E-commerce logistics for F&B grew 28% in Asia 2023.
- Warehouse automation in F&B at 35% adoption rate 2023.
- Coffee import volumes to EU 3.5 million tons annually.
- Reverse logistics for packaging recycling 20% efficient in 2023.
- Supplier diversification reduced risks for 70% of firms post-2022.
- Fresh produce shelf life extended 30% via new packaging.
- Global F&B logistics market $200 billion in 2023.
- Palm oil supply chain emissions down 12% with RSPO cert.
- U.S. food export value $180 billion in 2023.
- IoT sensors in trucks reduced spoilage by 18%.
- Tea leaf transportation via sea 80% of global volume.
Supply Chain & Logistics Interpretation
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