Food And Beverages Industry Analysis 2022-2032: Expected Growth Rate, Major Drivers, Lucrative Segment And Region, By The Global Market Model

The Global Market Model provides a comprehensive food and beverage industry analysis covering food & beverage market size, food and beverage market growth drivers and trends, food and beverage market segments and more across 58 geographies for the seven key regions.

LONDON, June 21, 2023 /PRNewswire/ -- The Business Research Company's flagship product, the Global Market Model, is the world's largest database of market forecasts. Forecasts for over 5,000+ markets are updated every six months on the basis of economic, geopolitical, and sector-specific factors. The current forecast for the food and beverage industry was made in December 2022.

Per Global Market Model's latest forecast for the food and beverages market, the expected forecast growth, or compound annual growth rate (CAGR), over the next ten years is kept unchanged as the Russia-Ukraine conflict's impact on supply chain disruptions for wheat, sunflower seed, barley, and maize due to and short-term increased prices of consumer goods due to high inflation were already taken into account during the previous forecast update.

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Key insights from the food and beverage industry forecast are:

• Market size in 2022: $6724.5 billion accounting for 6.6% of the global GDP
• Market growth rate through 2022-2032: 6.4%
• Growth drivers:
• Increase in demand for individual quick freezing
• Increase in organic food consumption
• Demand for convenience foods
• Use of advanced cigarette filter technologies
• Largest segment: Meat, poultry and seafood market
• Leading region: China

The Global Market Model also offers insights on the following key industry indicators for the food and beverages industry -

• Number of enterprises
• Number of employees
• Livestock primary meat

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SOURCE The Business Research Company