Key Takeaways
- The global food and beverage market was valued at USD 7.12 trillion in 2023 and is expected to reach USD 10.45 trillion by 2030, growing at a CAGR of 5.6%.
- In 2023, the U.S. food and beverage industry generated revenue of $1.47 trillion, representing 5.5% of the national GDP.
- The beverage segment of the food and beverage market is projected to grow from $1.8 trillion in 2022 to $2.4 trillion by 2028 at a CAGR of 4.9%.
- 62% of global consumers prefer plant-based alternatives for milk, with almond milk leading at 45% preference in 2023 surveys.
- In 2023, 71% of U.S. consumers reported increasing purchases of healthier snacks, focusing on low-sugar options.
- 55% of European millennials consume functional beverages daily for health benefits like immunity boosting.
- Global supply chain disruptions affected 45% of food and beverage companies in 2023, delaying shipments by average 3 weeks.
- U.S. food processing industry uses 70% of agricultural output, processing 150 million tons annually.
- Global cocoa production reached 5.1 million metric tons in 2022/23, with Ivory Coast supplying 40%.
- Global food and beverage industry employs 2.7 billion people directly and indirectly as of 2023.
- U.S. food manufacturing sector employed 1.7 million workers in 2023, with average wage $60,000 annually.
- EU food and drink industry provides 4.7 million direct jobs, 47% women in 2022.
- Global F&B packaging waste reduced by 15% through recycling in 2023 supply chains.
- 75% of EU food companies comply with Farm to Fork Strategy, cutting emissions 20% by 2030 target.
- U.S. FDA regulations on food additives approved 200 new sustainable ingredients since 2020.
The food and beverage industry is growing rapidly while shifting toward healthier, sustainable, and convenient products.
Consumer Trends
- 62% of global consumers prefer plant-based alternatives for milk, with almond milk leading at 45% preference in 2023 surveys.
- In 2023, 71% of U.S. consumers reported increasing purchases of healthier snacks, focusing on low-sugar options.
- 55% of European millennials consume functional beverages daily for health benefits like immunity boosting.
- Globally, 48% of consumers in 2023 shifted to online grocery shopping post-pandemic, up from 35% in 2020.
- In India, 67% of urban consumers prefer ready-to-eat meals due to busy lifestyles in 2023.
- 73% of Gen Z consumers worldwide seek sustainable packaging in food and beverage products in 2023 polls.
- U.S. consumers aged 25-34 increased energy drink consumption by 22% in 2022-2023.
- 59% of Chinese consumers in 2023 prioritize low-calorie beverages, driving sugar-free soda sales up 15%.
- Globally, 64% of parents buy organic baby food, with premium pricing tolerance at 20% higher.
- In Brazil, 52% of consumers prefer locally sourced produce, boosting farm-to-table sales by 18% in 2023.
- 68% of UK consumers read nutrition labels more frequently since 2021, focusing on sodium content.
- Australia saw 45% of consumers adopting keto diets, increasing low-carb product demand by 30% in 2023.
- 57% of Japanese consumers favor fermented foods like kombucha for gut health in 2023 surveys.
- In France, 61% of wine consumers prefer natural wines, up 25% from 2020.
- Global survey shows 49% of consumers reduce meat intake, with flexitarian diets at 35% adoption.
- Canada’s consumers 76% prioritize allergen-free labels on packaged foods in 2023.
- 63% of South African consumers seek fortified foods for micronutrient deficiencies.
- Mexico sees 58% of urbanites consuming meal kits weekly, driven by convenience.
- 70% of German consumers choose low-alcohol beers, sales up 12% in 2023.
- Indonesia’s 55% youth prefer bubble tea, market growing 20% annually.
- 66% of Italian consumers value DOP/IGP certifications on food products.
- U.S. Hispanic consumers 72% prefer authentic ethnic flavors in snacks.
- 51% of Russian consumers stockpile non-perishables amid economic uncertainty in 2023.
- Turkey’s 60% consumers opt for traditional beverages like ayran over sodas.
- 69% of Swedish consumers buy vegan products monthly.
- Nigeria sees 54% increase in palm wine consumption among youth.
- 65% of Thai consumers prefer spicy functional drinks for metabolism boost.
- Argentina’s 59% consumers favor yerba mate daily, 10% growth in exports.
- 74% of Dutch consumers use food delivery apps weekly.
- Philippines 62% prefer coconut water as natural hydration source.
- Vietnam’s street food consumption remains at 80% among urban population.
Consumer Trends Interpretation
Employment & Economics
- Global food and beverage industry employs 2.7 billion people directly and indirectly as of 2023.
- U.S. food manufacturing sector employed 1.7 million workers in 2023, with average wage $60,000 annually.
- EU food and drink industry provides 4.7 million direct jobs, 47% women in 2022.
- India’s food processing sector employs 7.5 million formally, projected to 9 million by 2025.
- Brazil agribusiness employs 19 million people, 20% of workforce in 2023.
- China’s beverage industry workforce totals 10 million, growing 3% yearly.
- Australia food and beverage manufacturing jobs at 250,000 in 2023.
- Global hospitality sector linked to F&B employs 330 million, 10% of jobs.
- Canada food processing employs 240,000, contributes CAD 28 billion to GDP.
- Mexico F&B industry jobs 4.2 million, 12% unemployment rate in sector 2023.
- UK food and drink sector employs 3.9 million, £130 billion GVA.
- Japan convenience store workforce 4.5 million part-time in F&B.
- Germany brewery sector employs 140,000, supports 1 million indirect jobs.
- South Africa food processing jobs 200,000 formal, 1 million informal.
- Russia F&B retail employs 2.8 million in 2023.
- Indonesia palm oil industry employs 4.5 million smallholders.
- France wine sector 500,000 direct jobs, €13 billion exports.
- U.S. restaurant industry 15.6 million jobs, $1 trillion sales 2023.
- Nigeria F&B manufacturing 1.2 million jobs, 5% GDP.
- Spain olive oil production employs 300,000 seasonally.
- Thailand food export industry 3 million jobs.
- Netherlands F&B logistics 150,000 jobs.
- Vietnam rice milling employs 2 million rural workers.
- Turkey bakery sector 400,000 jobs.
- Kenya tea industry 1 million jobs, 10% exports.
- Poland meat processing 250,000 employees.
- Chile wine exports support 100,000 jobs.
- Philippines sugar industry 1.5 million farmers.
- Sweden F&B retail 300,000 jobs.
- Egypt cottonseed oil processing 500,000 jobs.
Employment & Economics Interpretation
Market Size & Growth
- The global food and beverage market was valued at USD 7.12 trillion in 2023 and is expected to reach USD 10.45 trillion by 2030, growing at a CAGR of 5.6%.
- In 2023, the U.S. food and beverage industry generated revenue of $1.47 trillion, representing 5.5% of the national GDP.
- The beverage segment of the food and beverage market is projected to grow from $1.8 trillion in 2022 to $2.4 trillion by 2028 at a CAGR of 4.9%.
- Asia-Pacific food and beverage market size stood at $3.2 trillion in 2023, accounting for 45% of the global market share.
- Organic food and beverage sales in the U.S. reached $67.6 billion in 2022, up 12.4% from the previous year.
- The global ready-to-drink (RTD) beverages market was valued at $108.5 billion in 2023, with a projected CAGR of 8.2% through 2030.
- European food and beverage industry revenue hit €1.2 trillion in 2022, with packaged foods comprising 60%.
- Plant-based food market globally reached $29.4 billion in 2020 and is forecasted to grow to $162 billion by 2030 at 18.7% CAGR.
- U.S. non-alcoholic beverage market size was $414 billion in 2023, growing 3.1% annually.
- The functional beverages market worldwide was valued at $158.28 billion in 2022, expected to reach $463.19 billion by 2032 at 11.35% CAGR.
- Global soft drinks market revenue amounted to $496.9 billion in 2023, with carbonated soft drinks holding 40% share.
- India's food and beverage market is projected to grow from $638 billion in 2023 to $1.2 trillion by 2028 at 13.5% CAGR.
- The energy drinks segment globally reached $59.31 billion in 2023, forecasted to hit $111.18 billion by 2032.
- China’s food and beverage e-commerce sales surged to $450 billion in 2023, representing 25% of total market.
- Global bottled water market size was $283.94 billion in 2022, projected to grow at 7.8% CAGR to 2030.
- Latin America food and beverage market valued at $850 billion in 2023, with Brazil contributing 35%.
- U.S. craft beer market revenue was $28.9 billion in 2022, up 4% from 2021.
- Global dairy market size stood at $837.65 billion in 2023, expected to reach $1.15 trillion by 2030.
- Middle East & Africa food and beverage market grew to $400 billion in 2023 at 5.2% CAGR.
- Alcoholic beverages global market was $1.6 trillion in 2023, with spirits segment at 42% share.
- Australian food and beverage industry generated AUD 150 billion in revenue in 2022.
- Global snack food market size reached $503.84 billion in 2022, projected to $811.46 billion by 2030 at 6.2% CAGR.
- Canada’s food and beverage processing sector revenue was CAD 140 billion in 2022.
- Functional foods market globally valued at $275.5 billion in 2023, growing at 8.5% CAGR to 2030.
- UK food and beverage market turnover was £110 billion in 2023.
- Global frozen food market size was $284.29 billion in 2023, expected to grow at 4.5% CAGR.
- Japan’s convenience food market reached ¥7.5 trillion in 2022.
- Global meat substitutes market valued at $7.8 billion in 2023, projected to $35 billion by 2030.
- South Korea food delivery market size hit $25 billion in 2023.
- Worldwide confectionery market revenue was $220 billion in 2023.
Market Size & Growth Interpretation
Supply Chain & Production
- Global supply chain disruptions affected 45% of food and beverage companies in 2023, delaying shipments by average 3 weeks.
- U.S. food processing industry uses 70% of agricultural output, processing 150 million tons annually.
- Global cocoa production reached 5.1 million metric tons in 2022/23, with Ivory Coast supplying 40%.
- 60% of seafood supply chain relies on aquaculture, producing 94.4 million tons in 2022.
- India’s spice exports hit 1.5 million tons in 2023, valued at $4 billion.
- Brazil sugarcane production for ethanol and sugar was 672 million tons in 2022/23.
- China processes 80 million tons of rice annually, 29% of global production.
- EU dairy production totaled 170 million tons in 2023, with milk at 95%.
- U.S. corn for ethanol production used 5.4 billion bushels in 2022.
- Global coffee production was 170.3 million 60kg bags in 2022/23, Brazil 40%.
- Australia wheat harvest yielded 25.7 million tons in 2022/23.
- Indonesia palm oil output reached 46.5 million tons in 2023.
- France wine production was 48 million hectoliters in 2022.
- U.S. soybean processing hit 2.2 billion bushels in 2022/23.
- Thailand rice exports totaled 8.5 million tons in 2023.
- New Zealand dairy exports valued at NZD 19.2 billion in 2023.
- Global tea production was 6.2 million tons in 2022.
- Mexico avocado production reached 2.5 million tons in 2023.
- Russia sunflower oil production was 6.1 million tons in 2022/23.
- Italy pasta production totaled 3.4 million tons in 2022.
- Argentina soy exports were 50 million tons in 2022/23.
- Vietnam coffee production hit 1.8 million tons in 2022/23.
- Netherlands cheese production was 900,000 tons in 2023.
- Ghana cocoa grindings reached 800,000 tons in 2022/23.
- U.S. sugar beet production was 34.8 million tons in 2022.
- Turkey hazelnut production totaled 750,000 tons in 2023.
- Colombia coffee output was 12.4 million 60kg bags in 2022/23.
- South Africa wine grape crush was 1.3 million tons in 2023.
- Malaysia palm oil exports hit 17.8 million tons in 2023.
- Egypt sugar production reached 2.7 million tons in 2022/23.
- Peru asparagus exports were 450,000 tons in 2023.
- Ukraine sunflower seeds production 15.2 million tons pre-war 2021/22.
Supply Chain & Production Interpretation
Sustainability & Regulations
- Global F&B packaging waste reduced by 15% through recycling in 2023 supply chains.
- 75% of EU food companies comply with Farm to Fork Strategy, cutting emissions 20% by 2030 target.
- U.S. FDA regulations on food additives approved 200 new sustainable ingredients since 2020.
- Global water usage in F&B production averages 1,500 liters per person daily, 70% for agriculture.
- 40% reduction in plastic packaging mandated in India by 2025 for F&B sector.
- Brazil’s deforestation rules cut soy farm expansion by 30% in Amazon 2023.
- China’s carbon tax on high-emission F&B factories starts 2024, targeting 10% cut.
- 55% of global F&B firms adopt regenerative agriculture, improving soil carbon 15%.
- EU PFAS ban in food packaging effective 2025, affecting 25% of current materials.
- U.S. sustainable seafood labeling covers 80% of market by 2023 MSC standards.
- Australia’s plastic bag ban reduced F&B waste by 1.5 billion units yearly.
- Global F&B Scope 3 emissions account for 90% of total, focus of 60% corporate pledges.
- Canada’s GMO labeling law requires disclosure on 70% of processed foods from 2023.
- UK net-zero F&B roadmap targets 50% emission cut by 2030 via regulations.
- Japan’s Food Loss Reduction Law cut waste 20% since 2019 to 5 million tons.
- 65% of German breweries use renewable energy, complying with EEG subsidies.
- South Africa BEE regulations boost sustainable sourcing in F&B by 25%.
- Indonesia palm oil RSPO certification covers 20 million tons annually.
- France organic farming mandate reaches 15% of F&B land by 2023.
- Mexico water rights reforms limit beverage production in drought areas by 10%.
- Global F&B traceability tech adoption at 45%, mandated in 30 countries.
- Russia fertilizer regulations cap nitrogen use 15% for sustainable crops.
- Thailand rice sustainability standards export 90% certified.
- Netherlands circular economy F&B goals recycle 80% packaging by 2025.
- Vietnam aquaculture antibiotics banned 50 types since 2022.
- Turkey organic food regulations certify 500,000 hectares.
- Kenya Fairtrade certification in tea covers 40% exports.
- Poland EU Green Deal compliance cuts F&B energy 18%.
- Chile sustainable copper for cans regulates 30% F&B packaging.
Sustainability & Regulations Interpretation
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