Dublin, June 17, 2025 (GLOBE NEWSWIRE) — The “Food and Beverages Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the food and beverages market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global food and beverages market reached a value of nearly $6.68 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 5.41% since 2019. The market is expected to grow from $6.68 trillion in 2024 to $8.87 trillion in 2029 at a rate of 5.82%. The market is then expected to grow at a CAGR of 5.54% from 2029 and reach $11.61 trillion in 2034.
Growth in the historic period resulted from the increasing demand for ready-to-eat food, increasing health consciousness, rising e-commerce and online food delivery and growing consumer preference for organic products. Factors that negatively affected growth in the historic period were fluctuating raw material prices and legal actions against misinformation and false advertising. Going forward, the increasing focus on sustainability and ethical practices, the rising interest in plant-based foods, biodegradable and eco-friendly packaging and expansion of alternative protein option will drive the growth. Factor that could hinder the growth of the food and beverages market in the future include stringent regulations and bans and climate change and global warming.
Asia-Pacific was the largest region in the food and beverages market, accounting for 37.69% or $2.52 trillion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the food and beverages market will be Africa and Middle East where growth will be at CAGRs of 9.99% and 9.16% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 6.07% and 5.75% respectively.
The global food and beverages market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 9.33% of the total market in 2023. Nestle S.A was the largest competitor with a 1.60% share of the market, followed by PepsiCo Inc with 1.45%, Anheuser-Busch InBev with 0.94%, Tyson Foods Inc with 0.85%, Archer-Daniels-Midland Company (ADM) with 0.82%, JBS S.A with 0.81%, Mars Incorporated with 0.75%, The Coca-Cola Company with 0.73%, Cargill Inc with 0.71% and Imperial brands plc with 0.65%.
The food and beverages market is segmented by type into alcoholic beverages, non-alcoholic beverages, grain products, bakery and confectionery, frozen, canned and dried food, dairy food, meat, poultry and seafood, syrup, seasoning, oils, & general food, animal and pet food, tobacco products and other types. The meat, poultry and seafood market was the largest segment of the food and beverages market segmented by type, accounting for 23.21% or $1.55 trillion of the total in 2024. Going forward, the animal and petfood segment is expected to be the fastest growing segment in the food and beverages market segmented by type, at a CAGR of 7.60% during 2024-2029.
The food and beverages market is segmented by nature into organic and conventional. The conventional market was the largest segment of the food and beverages market segmented by nature, accounting for 87.43% or $5.84 trillion of the total in 2024. Going forward, the organic segment is expected to be the fastest growing segment in the food and beverages market segmented by nature, at a CAGR of 8.24% during 2024-2029.
The food and beverages market is segmented by distribution channel into supermarkets or hypermarkets, convenience stores, e-commerce and other channels. The supermarkets or hypermarkets market was the largest segment of the food and beverages market segmented by distribution channel, accounting for 46.15% or $3.08 trillion of the total in 2024. Going forward, the e-commerce segment is expected to be the fastest growing segment in the food and beverages market segmented by distribution channel, at a CAGR of 9.90% during 2024-2029.
The top opportunities in the food and beverages markets segmented by type will arise in the meat, poultry and seafood segment, which will gain $505.35 billion of global annual sales by 2029. The top opportunities in the food and beverages markets segmented by nature will arise in the conventional segment, which will gain $1.77 trillion of global annual sales by 2029. The top opportunities in the food and beverages markets segmented by distribution channel will arise in the supermarkets or hypermarkets segment, which will gain $814.34 billion of global annual sales by 2029. The food and beverages market size will gain the most in the USA at $410.93 billion.
Market-trend-based strategies for the food and beverages market include focus on introducing new andouille smoked sausage with bold new flavor, focus on refreshing decaf cold brew perfect for caffeine-free coffee experience, focus on convenient protein breakfast choices for health-conscious eaters, focus on introducing unique macaron-based dessert or every occasion and focus on innovative peanut butter cups with no chocolate top. Player-adopted strategies in the food and beverages market include focus on expanding business capabilities through innovative products to expand its operational capabilities.
To take advantage of the opportunities, the analyst recommends the food and beverages to focus on expanding regional flavor profiles to broaden product appeal, focus on expanding caffeine-free product lines to meet growing consumer demand, focus on developing convenient protein-rich breakfast solutions, focus on innovating gluten-free dessert offerings for special occasions, focus on healthier snacking alternatives in premium segments, focus on expanding in the animal and pet food segment, expand in emerging markets, continue to focus on developed markets, focus on expanding omni-channel distribution networks, focus on competitive tiered pricing with value differentiation, focus on targeted digital engagement to increase consumer reach, focus on loyalty programs to drive repeat purchases and focus on targeting consumer preferences in the food and beverage market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 657 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $6.68 Billion |
| Forecasted Market Value (USD) by 2034 | $11.61 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Companies Featured
- Nestle S.A
- PepsiCo Inc
- Anheuser-Busch InBev
- Tyson Foods Inc.
- Archer-Daniels-Midland Company (ADM)
- JBS S.A.
- Mars Incorporated
- The Coca-Cola Company
- Cargill Inc.
- Imperial brands plc
- Arnott’s Group
- Bega Cheese
- Bundaberg Brewed Drinks
- Storia Foods & Beverages
- OFI
- Bulla Dairy Foods
- Britannia Industries Limited
- China Resources Beverage
- Sichuan Viee Beverage Food Co.
- Fonterra
- Inner Mongolia Yili Industrial Group Co., Ltd.
- China Mengniu Dairy Co., Ltd.
- COFCO Corporation
- Foshan Haitian Flavouring & Food Co., Ltd.
- Dali Foods Group
- Tsingtao Brewery Group
- Beijing Enterprises Holdings Limited
- Chain Lawson
- RX Japan
- ITO EN
- Ajinomoto Co., Inc.
- Kikkoman Corporation
- Calbee Inc.
- Suntory Holdings Limited
- Asahi Group Holdings, Ltd.
- Kirin Holdings Company, Limited
- Meiji Holdings Co., Ltd.
- Maruha Nichiro Corporation
- Narichan
- Jollibee Foods Corporation (JFC)
- Compose Coffee
- IFF
- Nongshim Co., Ltd.
- Ottogi Corporation
- Pulmuone Co., Ltd.
- Haitai Confectionery & Foods Co., Ltd.
- Dongwon F&B
- Samyang Foods Co., Ltd.
- Seoul Milk Cooperative
- Danone
- Carrefour Italy
- DSM-Firmenich
- Donaldson Company Inc
- Lactalis Group
- Ferrero
- Granarolo
- Ebro Foods
- Grupo Bimbo
- Unilever
- Heineken
- Kofola CeskoSlovensko a.s.
- Madeta a.s.
- Sokolow S.A.
- Cris-Tim
- Ursus Breweries
- Cherkizovo Group
- Baltika Breweries
- The Clearly Food & Beverage Company Ltd
- Arva Flour Mills Inc
- Protein Industries
- BioNeutra
- Lactalis Inc
- Maple Leaf Foods
- Olymel
- Datassential Inc
- Oasis International
- Blystone & Donaldson
- Tyson Foods Inc
- Del Monte Fresh Produce Ltd
- The Hain Celestial Group
- Adams & Brooks Inc
- The Kraft Heinz Company
- Dr. Pepper Snapple Group
- NotCo Ltd
- Duas Rodas Industrial
- Bodega Santa Julia (Zuccardi)
- IMCD
- Joli Foods S.A.S
- JBS S.A
- Grupo Petropolis
- Agrosuper
- Ambev
- Thurath Al-Madina
- Emirates Food Industries LLC
- i-PRO
- Al Rabie Saudi Foods Company
- Almarai Company
- Arab Company for Livestock Development (ACOLID)
- Al-Watania Company
- Agthia Group PJSC
- AWJ
- Dangote Industries Limited
- Varun Beverages Limited
- Abu Auf Group
- Cadbury
- FrieslandCampina WAMCO PLC
- CHI Limited
For more information about this report visit https://www.researchandmarkets.com/r/ksdjue
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- Food and Beverages Market
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