Plunkett’s Food Industry Market Research

Competitive Intelligence, Business Analysis, Forecasts, Market Size, Trends, Companies, Statistics

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Food, Beverage and Grocery OVERVIEW

The global food and beverage industry is undergoing a rapid and multifaceted transformation, driven by technological innovation, shifting consumer preferences and evolving economic and environmental realities.  In 2024, the industry surpassed $12 trillion globally, comprising about 11% of the world’s GDP.
1. Health-Conscious Consumption Drives Market Shifts
Consumers, particularly younger generations, are demanding healthier, fresher and more natural food options.  This shift has catalyzed a rise in organic products, plant-based alternatives and “clean label” packaged goods with minimal additives.  The U.S. organic food market reached $69.7 billion in 2023, with a global total of $136.3 billion.  Simultaneously, concerns over obesity and chronic illness have pushed governments and corporations toward reformulating snacks, implementing calorie labeling and supporting low-sodium initiatives.
2. Plant-Based and Lab-Grown Proteins Gain Traction
Environmental and ethical concerns have fueled interest in plant-based and lab-cultivated meats.  Companies like Beyond Meat and Impossible Foods have pioneered alternatives that mimic real meat in taste and texture.  Meanwhile, startups such as Upside Foods are using cellular agriculture to grow meat directly from animal cells.  Although high production costs and consumer skepticism have tempered growth, innovation continues, especially with larger firms like Nestlé and Unilever entering the space.
3. AgTech and Precision Farming Transform Agriculture
Farmers are embracing technologies such as drones, robotics and GPS-guided equipment to optimize yields and reduce inputs.  Innovations like drip irrigation, gene editing (e.g., CRISPR), and high-tech greenhouses are vital in addressing labor shortages and water scarcity.  These technologies are central to boosting food production by 70% by 2050, a goal set by the UN to meet global demand.
4. Grocery and Meal Delivery Services Redefine Retail
Online grocery shopping, which surged during the COVID-19 pandemic, has become a permanent consumer habit.  Companies like Instacart, Amazon Fresh and Walmart Grocery are capitalizing on this trend, offering convenience and same-day delivery.  Meanwhile, meal kit providers such as HelloFresh and Blue Apron cater to consumers seeking easy, home-cooked meals.  This reflects a broader demand for personalization and convenience in food purchasing.
5. Sustainability and Packaging Innovation Take Center Stage
Sustainability has emerged as a competitive differentiator.  Companies are investing in recyclable and biodegradable packaging to reduce environmental impact.  Coca-Cola, for instance, aims to make all its packaging recyclable by 2025, while Walmart has pushed for concentrated detergents and packaging-neutral goals.  Consumers increasingly reward brands that demonstrate environmental responsibility, from sourcing to shelf.
6. Global Supply Chains and Food Security in Focus
Aquaculture is growing as a vital protein source, with fish farming surpassing beef in global output.  At the same time, concerns about food waste and security are prompting innovations in logistics, micro-fulfillment centers and recycling initiatives.  Regional disparities in food affordability and infrastructure remain stark, highlighting the need for continued investment and policy action.

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eBook or Book:

This industry onlyPublication date: Apr 2025
ISBN-13: 978-1-64788-557-1
ISBN-13: 978-1-64788-065-1
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