The global food and beverages market, a part of the food and
beverages industry, grew at a compound annual growth rate (CAGR) of around 3%
during the historic period. The food and beverages industry showed a steady
growth. The growth is mainly due to increasing population, strong economic
growth and rising disposable income in many emerging countries in Asia and
Africa, rapid urbanization, and shifting consumer preferences in both developed
and developing countries.
In the forecast period, the global food and beverages market
size is expected to be over $6 trillion by 2021, growing at a CAGR of nearly 5%.
This is expected due to the expected increase in demand for food and beverages
due to rapid urbanization, positive economic growth outlook in many developed
and developing countries, rising disposable income and changing lifestyles of
consumers leading to a high demand for convenience foods. Furthermore, rising population,
increase in dispensable income, and increasing per capita incomes are expected
to drive the global food and beverages market in the future.
Find TBRC’s report on the food and beverages market: https://www.thebusinessresearchcompany.com/report/food-and-beverages-global-market-report-2018
There has been an increased demand for functional beverages
with many individuals seeking drinks to stay hydrated and to maintain
nutritional balance. To capitalize on this segment companies are introducing
fortified beverages such as functional juices, functional water with health
benefits such as water balance, weight management and improved digestion.
Major companies in the food and beverages market, offering functional
drinks include Middle East & Africa, America, Asia, Europe, Oceania.
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