Behind every bite you take lies a colossal, trillion-dollar machine, as evidenced by a global food market surging past $9 trillion, a meat industry worth $1.35 trillion alone, and the fact that processed food now makes up more than half of what the world eats.
Key Takeaways
- Global food market size reached $9.46 trillion in 2023, projected to grow to $13.12 trillion by 2028 at a CAGR of 6.7%.
- Food and beverage industry revenue worldwide amounted to over $7.2 trillion in 2022.
- The packaged food market was valued at $2.8 trillion globally in 2023.
- Global cereal production reached 2.79 billion tonnes in 2022/23.
- Wheat production worldwide was 803.8 million tonnes in 2023.
- Rice production globally hit 520.7 million tonnes in 2023.
- Global food consumption per capita was 2,984 kcal/day in 2019.
- Average daily protein supply worldwide was 82.2 g/capita in 2019.
- Vegetable oil consumption globally reached 19.8 kg per capita in 2022.
- Global food trade value reached $1.89 trillion in 2022.
- Agricultural exports worldwide totaled $1.3 trillion in 2022.
- Soybean exports globally were 181 million tonnes in 2022/23.
- Global food loss and waste totals 1.05 billion tonnes annually.
- Agriculture contributes 24% to global greenhouse gas emissions.
- Water use in agriculture accounts for 70% of global freshwater withdrawals.
The massive global food industry is expanding quickly, led by specialty and packaged foods.
Consumption
- Global food consumption per capita was 2,984 kcal/day in 2019.
- Average daily protein supply worldwide was 82.2 g/capita in 2019.
- Vegetable oil consumption globally reached 19.8 kg per capita in 2022.
- Meat consumption worldwide averaged 43.2 kg per capita in 2022.
- Poultry meat consumption per capita was 15.6 kg globally in 2022.
- Dairy product consumption reached 89.5 kg per capita milk equivalent worldwide in 2022.
- Sugar consumption globally was 23.5 kg per capita in 2022.
- Rice consumption per capita worldwide averaged 52.4 kg in 2022.
- Wheat consumption globally was 67.2 kg per capita in 2022.
- Fish consumption per capita reached 20.7 kg worldwide in 2022.
- Fruit consumption averaged 78 kg per capita globally in 2019.
- Vegetable consumption worldwide was 104 kg per capita in 2019.
- Soft drinks consumption per capita was 44.2 liters globally in 2023.
- Beer consumption worldwide averaged 25.8 liters per capita in 2023.
- Wine consumption per capita globally was 3.7 liters in 2023.
- Spirits consumption worldwide reached 7.5 liters per capita in 2023.
- Processed food accounts for 55% of global caloric intake.
- Organic food consumption grew 12.4% annually worldwide.
- Plant-based meat alternatives consumption up 27% globally in 2022.
- Energy drinks consumption per capita 3.2 liters worldwide in 2023.
- Global food waste at consumer level is 131 kg per capita annually.
- Household food expenditure averages 10.7% of total spending worldwide.
- Fast food consumption frequency 1.5 times/week globally.
Consumption Interpretation
We're collectively a walking contradiction, fueling ourselves with nearly 3,000 daily calories of significantly processed food while desperately trying to offset it with booming organic and plant-based trends, all the while pouring enough beer and soda to float a small boat and then binning over 130 kilos of the whole messy experiment each year.
Market Overview
- Global food market size reached $9.46 trillion in 2023, projected to grow to $13.12 trillion by 2028 at a CAGR of 6.7%.
- Food and beverage industry revenue worldwide amounted to over $7.2 trillion in 2022.
- The packaged food market was valued at $2.8 trillion globally in 2023.
- Global organic food market size was $213.5 billion in 2022, expected to reach $536.5 billion by 2030.
- Plant-based food market valued at $29.4 billion in 2020, projected to $162 billion by 2030.
- Global ready-to-eat food market size was $198.19 billion in 2022.
- Functional food market reached $275.5 billion in 2022, growing at 8.5% CAGR.
- Global food delivery market size was $150.35 billion in 2022.
- Dairy market revenue worldwide hit $837 billion in 2022.
- Meat market global revenue was $1.35 trillion in 2022.
- Bakery products market size valued at $496.8 billion in 2022.
- Confectionery market worldwide revenue $220 billion in 2023.
- Global seafood market size was $155.36 billion in 2022.
- Edible oils market valued at $211.18 billion in 2023.
- Global spices market size reached $20.67 billion in 2022.
- Soft drinks market revenue $479.04 billion worldwide in 2023.
- Alcoholic beverages market size $1.59 trillion in 2023.
- Global pet food market valued at $103.3 billion in 2022.
- Food processing equipment market size $72.12 billion in 2023.
- Global food flavors market reached $18.3 billion in 2023.
Market Overview Interpretation
For a species constantly debating what to eat, the global food industry’s towering $9.46 trillion edifice—built on everything from essential staples to pet food and functional snacks—proves that our appetites, both literal and entrepreneurial, are an endlessly hungry, ever-evolving, and stunningly profitable engine.
Production
- Global cereal production reached 2.79 billion tonnes in 2022/23.
- Wheat production worldwide was 803.8 million tonnes in 2023.
- Rice production globally hit 520.7 million tonnes in 2023.
- Maize production reached 1.15 billion tonnes worldwide in 2022/23.
- Global milk production was 881 million tonnes in 2022.
- Meat production worldwide totaled 363 million tonnes in 2022.
- Poultry meat production reached 137 million tonnes globally in 2022.
- Pig meat production was 114 million tonnes in 2022 worldwide.
- Bovine meat production hit 61 million tonnes globally in 2022.
- Global fish production from aquaculture was 130.9 million tonnes in 2022.
- Capture fisheries production worldwide was 91 million tonnes in 2022.
- Soybean production reached 391.5 million tonnes in 2022/23.
- Palm oil production was 76.5 million tonnes globally in 2022/23.
- Sugar cane production worldwide hit 1.95 billion tonnes in 2022.
- Potato production globally was 376 million tonnes in 2022.
- Tomato production reached 188 million tonnes worldwide in 2022.
- Apple production was 86 million tonnes globally in 2022.
- Banana production hit 121 million tonnes worldwide in 2022.
- Global coffee production was 10.8 million tonnes in 2022/23.
- Tea production worldwide reached 6.4 million tonnes in 2022.
- Cotton production was 25.3 million tonnes globally in 2022/23.
- Olive oil production hit 3.3 million tonnes in 2022/23.
- Global vegetable oil production was 207 million tonnes in 2022/23.
- Dairy cattle milk yield averaged 2,368 kg per animal worldwide in 2022.
- Global egg production reached 88 million tonnes in 2022.
- Honey production worldwide was 1.9 million tonnes in 2022.
Production Interpretation
While our plates groan under the sheer, staggering tonnage of everything we've farmed, fished, and wrung from the earth, the sobering truth is that efficiently and ethically funneling this mountain of abundance to every hungry mouth remains humanity's greatest, unsolved dinner party challenge.
Sustainability
- Global food loss and waste totals 1.05 billion tonnes annually.
- Agriculture contributes 24% to global greenhouse gas emissions.
- Water use in agriculture accounts for 70% of global freshwater withdrawals.
- 33% of global arable land faces soil degradation.
- Global organic farmland covers 72.3 million hectares in 2022.
- Food production uses 75% of global ice-free land surface.
- 821 million people faced hunger in 2021 globally.
- Biodiversity loss in agriculture: 75% of crop diversity lost since 1900.
- Global fertilizer use 190 million tonnes nitrogen equivalent in 2022.
- Pesticide use worldwide 4.1 million tonnes in 2020.
- Renewable energy in food processing 15% of total energy use.
- Precision agriculture adoption 25% of global farms by 2023.
- Carbon footprint of food waste 8-10% of global emissions.
- Regenerative agriculture practiced on 5% of global cropland.
- Plant-based diets could reduce food GHG emissions by 70%.
- Global investment in sustainable agriculture $20 billion annually.
- 14% of global food lost between harvest and retail.
- Methane emissions from livestock 32% of human-caused methane.
Sustainability Interpretation
We are meticulously starving our future while feeding our landfills, as our agricultural system—a carbon-guzzling, soil-degrading, biodiversity-erasing leviathan that monopolizes our land and water—manages to both waste a third of its bounty and still leave hundreds of millions hungry, proving that a staggering lack of precision, regeneration, and investment is a recipe for planetary self-sabotage.
Trade
- Global food trade value reached $1.89 trillion in 2022.
- Agricultural exports worldwide totaled $1.3 trillion in 2022.
- Soybean exports globally were 181 million tonnes in 2022/23.
- Wheat exports hit 207 million tonnes worldwide in 2022/23.
- Corn exports reached 158 million tonnes globally in 2022/23.
- Palm oil exports were 63 million tonnes worldwide in 2022.
- Meat exports globally totaled 44 million tonnes in 2022.
- Dairy exports reached 81 million tonnes worldwide in 2022.
- Fish exports value hit $164 billion globally in 2022.
- Coffee exports were 7.4 million tonnes worldwide in 2022.
- Tea exports reached 1.9 million tonnes globally in 2022.
- Sugar exports totaled 56 million tonnes worldwide in 2022.
- Rice exports hit 53 million tonnes globally in 2022.
- Cotton exports were 19 million tonnes worldwide in 2022.
- Fruit exports value $150 billion globally in 2022.
- Vegetable exports reached $140 billion worldwide in 2022.
- Processed food exports totaled $1.1 trillion globally in 2022.
- EU agricultural exports hit €228 billion in 2022.
- US agricultural exports reached $196 billion in 2022.
- Brazil soybean exports 100 million tonnes in 2022.
- Netherlands food exports €103 billion in 2022.
- China food imports $250 billion in 2022.
Trade Interpretation
The sheer tonnage of our global pantry, from Brazil's soybeans to the world's coffee cups, reveals a system of astonishing scale and interdependence, where a single year's trade could theoretically feed, clothe, and caffeinate humanity, yet still leaves us grappling with profound questions of equity and sustainability.
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