Key Takeaways
- The global food and beverage market size was valued at USD 7,392.62 billion in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2030.
- U.S. food and beverage retail sales reached $1.1 trillion in 2022, accounting for 12.5% of total retail sales.
- The organic food market worldwide generated revenue of $216.5 billion in 2022, expected to reach $500 billion by 2028.
- 45% of U.S. consumers aged 18-34 prefer plant-based alternatives to meat, up from 32% in 2020.
- 62% of global consumers are willing to pay more for sustainable food products in 2023.
- U.S. online grocery shopping penetration reached 25% of total grocery sales in 2023.
- Global wheat production reached 784.2 million metric tons in 2022/2023 season.
- U.S. corn production totaled 15.34 billion bushels in 2023.
- World milk production was 881 million metric tons in 2022.
- The food and beverage industry employs 22 million people in the U.S. as of 2023.
- Globally, 2.37 billion people work in agrifood systems, representing 27% of total employment in 2022.
- U.S. food manufacturing sector had 1.7 million jobs in 2023.
- Global food and drink industry greenhouse gas emissions account for 34% of total human-caused GHG.
- Food waste generates 8-10% of global anthropogenic GHG emissions, equivalent to 3.3 billion tons CO2.
- 14% of global food production (1.05 billion tonnes) is lost between harvest and retail.
The global food and beverage market is massive and growing, driven by shifting consumer preferences.
Consumer Behavior
- 45% of U.S. consumers aged 18-34 prefer plant-based alternatives to meat, up from 32% in 2020.
- 62% of global consumers are willing to pay more for sustainable food products in 2023.
- U.S. online grocery shopping penetration reached 25% of total grocery sales in 2023.
- 38% of millennials report reducing meat consumption for health reasons in 2022 surveys.
- 71% of consumers check ingredient labels before purchasing packaged foods.
- Energy drink consumption among U.S. teens aged 12-17 increased by 15% from 2021 to 2023.
- 54% of European consumers prefer locally sourced food products.
- Functional beverage consumption grew 12% YoY among health-conscious adults in 2023.
- 67% of parents in the UK avoid products with added sugars for children.
- Snacking occasions increased to 3.2 per day per person in the U.S. in 2023.
- 52% of Gen Z consumers prioritize low-sugar options in beverages.
- 48% of consumers worldwide increased plant-based dairy consumption in 2023.
- Home delivery of meals surged 28% among urban consumers post-2022.
- 59% of shoppers seek transparency in food supply chains.
- Vegan product purchases rose 27% in Europe 2022-2023.
- 65% of U.S. consumers aged 35-54 buy functional foods for gut health.
- Soft drink consumption per capita is 150 liters annually in the U.S.
- 73% of parents influence household healthy eating choices.
- 41% of consumers under 25 avoid gluten-containing products.
- Ready-to-eat meals consumption up 22% since 2020.
- 56% prefer eco-friendly packaging in food purchases.
Consumer Behavior Interpretation
Employment Data
- The food and beverage industry employs 22 million people in the U.S. as of 2023.
- Globally, 2.37 billion people work in agrifood systems, representing 27% of total employment in 2022.
- U.S. food manufacturing sector had 1.7 million jobs in 2023.
- Restaurant industry employs 15.6 million people in the U.S. in 2023.
- 1 in 10 jobs worldwide are in food and beverage services.
- Women represent 40% of the agricultural workforce in developing countries.
- U.S. beverage manufacturing employment stood at 285,000 in 2023.
- Food processing sector in India employs over 7.5 million people directly.
- Global food retail employs 60 million people, with 50% part-time.
- U.S. farmworkers number 2.4 million, 45% foreign-born in 2022.
- Food service industry in U.S. employs 12.4 million in full-service restaurants alone in 2023.
- Global agrifood jobs expected to reach 2.7 billion by 2030.
- U.K. food manufacturing workforce 430,000 in 2023.
- 28% of U.S. workforce in food supply chain is in processing.
- Brazil food processing employs 4.5 million formally.
- Supermarket retail jobs in Europe total 5.2 million.
- U.S. agricultural employment declined to 1.3 million on farms in 2023.
- India food services sector to employ 10 million by 2025.
- 55% of food industry jobs require no college degree.
Employment Data Interpretation
Market Overview
- The global food and beverage market size was valued at USD 7,392.62 billion in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2030.
- U.S. food and beverage retail sales reached $1.1 trillion in 2022, accounting for 12.5% of total retail sales.
- The organic food market worldwide generated revenue of $216.5 billion in 2022, expected to reach $500 billion by 2028.
- Alcoholic beverages market revenue worldwide is forecasted to reach $1.79 trillion by 2027, growing at 3.8% CAGR.
- Non-alcoholic beverages market size was $1.2 trillion in 2023, with a projected CAGR of 5.9% through 2030.
- Global packaged food market valued at $2.8 trillion in 2022, anticipated to expand at 5.2% CAGR to 2030.
- U.S. craft beer market generated $28.5 billion in revenue in 2022.
- Plant-based food market reached $29.4 billion globally in 2020, projected to $162 billion by 2030 at 18.7% CAGR.
- Global dairy market size was $947.11 billion in 2023, expected to grow to $1.54 trillion by 2032 at 5.5% CAGR.
- Fast food industry in the U.S. generated $331 billion in sales in 2022.
- The global ready-to-drink beverages market is expected to grow from $1.08 trillion in 2023 to $1.5 trillion by 2030.
- U.S. coffee market revenue hit $48.3 billion in 2022.
- Bottled water market worldwide valued at $283 billion in 2022, CAGR 7.5% to 2030.
- Confectionery market size reached $220 billion globally in 2023.
- U.S. frozen food sales grew to $72 billion in 2023.
- Global bakery products market at $496 billion in 2022, projected CAGR 5.1%.
- Energy drinks market valued $53.1 billion in 2022, to $92.4 billion by 2030.
- Global soft drinks market valued at $496.9 billion in 2023.
- U.S. snack food market $42 billion in 2023 sales.
- Health and wellness food segment $1 trillion globally 2023.
Market Overview Interpretation
Production Statistics
- Global wheat production reached 784.2 million metric tons in 2022/2023 season.
- U.S. corn production totaled 15.34 billion bushels in 2023.
- World milk production was 881 million metric tons in 2022.
- Global sugar production hit 182 million metric tons in 2022/2023.
- Brazil soybean output reached 155 million metric tons in 2022/2023.
- U.S. beef production was 27.3 billion pounds in 2023.
- Global seafood production from aquaculture was 130.9 million tonnes in 2022.
- India rice production totaled 135.5 million metric tons in 2022/2023.
- EU wine production was 146 million hectoliters in 2022.
- Palm oil production worldwide reached 77.6 million metric tons in 2022/2023.
- Global coffee production was 170.8 million 60-kg bags in 2022/2023.
- U.S. soybean production hit 4.27 billion bushels in 2023.
- World meat production totaled 359 million tonnes in 2022.
- EU olive oil production reached 1.62 million tons in 2022/2023.
- Australia wheat harvest was 25.7 million metric tons in 2022/2023.
- Global cocoa production 5.1 million tonnes in 2022/2023.
- U.S. poultry production 46.7 billion pounds in 2023.
- China pork output 54.5 million metric tons in 2022.
- Tea production worldwide 6.4 million tonnes in 2022.
- Global orange production 75.5 million metric tons in 2022/2023.
- U.S. dairy production 226 billion pounds milk in 2023.
Production Statistics Interpretation
Sustainability Metrics
- Global food and drink industry greenhouse gas emissions account for 34% of total human-caused GHG.
- Food waste generates 8-10% of global anthropogenic GHG emissions, equivalent to 3.3 billion tons CO2.
- 14% of global food production (1.05 billion tonnes) is lost between harvest and retail.
- Agriculture uses 70% of global freshwater withdrawals.
- Palm oil production contributes to 8% of global deforestation.
- Organic farming covers 1.5% of global agricultural land, totaling 72.3 million hectares in 2022.
- Livestock accounts for 14.5% of global GHG emissions.
- Plastic packaging in food industry represents 40% of all plastics produced.
- Global food loss and waste could feed 1.9 billion people if redistributed.
- 30% of global cropland is degraded, affecting food security.
- Fisheries and aquaculture provide 17% of animal protein consumed globally.
- Regenerative agriculture practiced on 5% of U.S. farmland in 2023.
- Food transport emissions 6 billion tons CO2 annually.
- 25% reduction in food waste needed to meet Paris Agreement goals.
- Sustainable seafood labeled products grew 15% in sales 2022.
- Water footprint of beef is 15,400 liters per kg.
- Biodiversity loss in agriculture hotspots at 20% species decline.
Sustainability Metrics Interpretation
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