According to Cognitive Market Research, the global Food and Beverage market size is USD 6684.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.80% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 2673.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 2005.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1537.37million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 334.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 133.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
The Breakfast Cereals held the highest Food and Beverage market revenue share in 2024.

Market Dynamics of Food and Beverage Market

Key Drivers of Food and Beverage Market

Rising Global Population to Increase the Demand Globally

The increasing number of people on the planet is driving up demand for food and drink, particularly in developing countries where disposable incomes are rising. There is a proportional increase in the demand for food and drink as more people enter the consumer market. The need for agricultural and food production systems to develop and adapt to satisfy growing demands is highlighted by this trend. Furthermore, it emphasizes how important sustainable practices are to ensuring food security over the long term and reducing environmental impacts. To address these issues and create resilient and equitable food systems that can meet the demands of an expanding population while preserving the planet's resources for future generations, governments, businesses, and communities must work together.

Urbanization and Busy Lifestyles to Propel Market Growth

Convenient, ready-to-eat food and beverages are in high demand due to urbanization and the spread of hectic lives. The need for easy and convenient food options has increased as more people live in cities and manage busy schedules. As a result of this trend, the availability of packaged foods, frozen dinners, and grab-and-go options has increased, appealing to consumers who want convenience without sacrificing flavor or nutrition. With urbanization driven by social and economic considerations, the portable food and beverage product market is expected to grow even further. In response to changing customer tastes, food producers and distributors are coming up with new and inventive ways to provide a wide range of easily accessible products that meet the needs of both busy lifestyles and urban residents.

Restraint Factors Of Food and Beverage Market

Rising Food Prices to Limit the Sales

Increased food costs are frequently caused by changes in the price of agricultural commodities, which are made worse by supply chain interruptions and extreme weather. These dynamics, especially for vulnerable people, can substantially impact affordability and consumer purchasing. When staple foods rise in price, households might have to spend more of their income to cover their fundamental nutritional needs, leaving them with less money to spend on other necessities. Furthermore, rising food prices have the potential to worsen food insecurity, increasing the likelihood of poverty and malnourishment in impacted areas. Businesses, civil society, and governments must tackle these issues by strengthening the food systems' resilience, reducing price volatility, and guaranteeing that all societal segments have fair access to reasonably priced and nutrient-dense food.

Impact of Covid-19 on the Food and Beverage Market

The COVID-19 pandemic has had a significant global impact on the food and beverage industry. Industry landscapes have been changed by lockdowns, supply chain disruptions, and changing customer behaviors. Due to closures and limitations, the restaurant and food service industries suffered large losses; yet, as people stored up and increased their home cooking, there was a boom in demand for packag...

The Report Covers Global AI in Food and Beverage Industry Growth and Size and is Segmented by Application (food Sorting, Consumer Engagement, Quality Control, and Safety Compliance, Production and Packaging, Maintenance, and Other Applications), End User (hotels and Restaurants, Food Processing Industry, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Explore the Food And Beverages Market trends! Covers key players, growth rate 6.2% CAGR, market size $9423.34 Billion, and forecasts to 2034. Get insights now!

The global private label food and beverages market was worth around USD 431.98 billion in 2022 and is predicted to grow to around USD 709.25 billion by 2030, with a compound annual growth rate (CAGR) of roughly 7.34% between 2023 and 2030.

The Sugar-Free Food and Beverage Market Report is Segmented by Product Type (Beverages, Dairy and Dairy Alternatives, Confectionery, Bakery Products, Dietary Supplements, and Other Product Types), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Sizes and Forecasts in Value (USD) for all the Abovementioned Segments.

The report covers Global Plant Based Food and Beverages Market Future Trends is segmented by Product Type (Meat Substitutes, Dairy Alternatives Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, and Non-dairy Spreads), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Online Retail Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

The food and beverage additive market is anticipated to be valued at US$ 65.20 billion in 2024, registering a CAGR of 5.80% from 2024 to 2034. The market is foreseen to reach US$ 104.79 billion by 2034, relying on the increasing consumption of packaged food and beverages, which is anticipated to boost the demand for additives in their processing.

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projection

Category-wise Insights

Country-wise Insights

TBRC food and beverages market report includes alcoholic – beverages, non-alcoholic – beverages, grain products, bakery and confectionery, canned food, dairy food, and syrup.

BCC Research Market Analyst says global market for plant-based meat is expected to grow from $8.8 billion in 2023 to $17.1 billion by the end of 2028, at a CAGR of 14.1%.

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Artificial Intelligence (AI) In Food And Beverage Industry Market Size 2025-2029

The artificial intelligence (ai) in food and beverage industry market size is forecast to increase by USD 32.2 billion at a CAGR of 34.5% between 2024 and 2029.

The Artificial Intelligence (AI) market in the Food and Beverage Industry is experiencing significant growth due to the rising demand for automation to enhance productivity and efficiency. The integration of AI and the Internet of Things (IoT) in this sector is revolutionizing various processes, from supply chain management to quality control and customer experience. However, the lack of skilled personnel with expertise in AI and data analytics poses a challenge for market expansion. Key drivers for the market include the increasing adoption of advanced technologies to optimize production processes, reduce costs, and improve product quality. The integration of AI in food and beverage manufacturing enables predictive maintenance, real-time inventory management, and automated quality control, leading to increased operational efficiency and profitability. Additionally, AI-powered customer engagement tools offer personalized recommendations and improved customer experience, creating new revenue streams for companies. Despite these opportunities, the market faces challenges, including the need for significant investment in AI infrastructure and the lack of skilled personnel to implement and manage these systems. Companies seeking to capitalize on the AI market in the Food and Beverage Industry must focus on building a strong talent pool and collaborating with technology partners to overcome these challenges. By leveraging AI, food and beverage companies can gain a competitive edge, streamline operations, and deliver innovative products and services to meet evolving consumer demands.

What will be the Size of the Artificial Intelligence (AI) In Food And Beverage Industry Market during the forecast period?

Request Free SampleThe artificial intelligence (AI) and machine learning (ML) market in the food and beverage industry is experiencing significant growth due to the increasing adoption of these technologies to enhance supply chain management, predict consumer behavior, and optimize transportation. AI and ML are revolutionizing various aspects of the food and beverage sector, from recipe development and product tracing to supply chain efficiency and labor management. Predictive analytics is a key application of AI in the industry, enabling companies to anticipate demand patterns and optimize inventory levels. Social media channels are also leveraged to analyze consumer preferences and trends, informing product development and marketing strategies. The food and beverage industry faces a labor shortage, particularly in manual labor positions, leading to increased interest in automation and AI solutions. Large-scale implementation of AI in the industry is improving supply chain dynamics, reducing labor costs, and increasing speed and accuracy in various processes. Farmers are also utilizing AI and ML to optimize crop yields and manage resources more efficiently. Product tracing and quality control are other areas where AI is making a significant impact, ensuring food safety and transparency throughout the supply chain. Overall, the integration of AI and ML in the food and beverage industry is transforming business operations, enhancing customer experience, and driving growth in this dynamic market.

How is this Artificial Intelligence (AI) In Food And Beverage Industry Industry segmented?

The artificial intelligence (ai) in food and beverage industry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeTransportation and logisticsProduction planningQuality controlOthersEnd-userFood processing industryHotels and restaurantsBeverage industryGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaSouth AmericaMiddle East and Africa

By Type Insights

The transportation and logistics segment is estimated to witness significant growth during the forecast period.In the food and beverage industry, there is a rising demand for artificial intelligence (AI) and machine learning solutions to optimize operations and enhance supply chain efficiency. This trend is driven by the need for flexibility and swift returns processing, as well as labor shortages and increasing labor costs. Advanced technologies, such as photoelectric sensors, material handling, and assembly applications, are being integrated into the industry to improve sorting processes, reduce contamination levels, and ensure uniformity in food storage. AI platforms are also being used for data analytics to better understand consumer purchasing beh

Global Food And Beverage Stores Market to hit USD 4535.88B by 2029 growing at 9.1% CAGR. Explore trends, drivers, and competition for strategic insights with The Business Research Company.

Water Pumps for Food & Beverage Industry size was valued at around USD 3.61 billion in 2024 and is projected to reach USD 4.56 billion by 2030 with a CAGR of around 4.7%.

[299 Pages Report] The global food and beverage protective cultures market is expected to secure US$ 1,980.6 Million in 2032 while expanding at a CAGR of 4.3%. The market is likely to hold a value of US$ 1,300 Million in 2022. From 2016-2021, the market exhibited a growth rate of 4.3%.

Report Scope

As per the FMI market study report, the total demand for kids’ food and beverages, in terms of value, is US$ 138.8 billion in 2023. The sales of all types of food and drinks for children are anticipated to increase at a global average rate of 6.2% through 2033. Further, the global kids' food and beverages market size is estimated by FMI to reach a valuation of US$ 253.3 billion by 2033.

The report covers Vegan Food and Beverage Market in Mexico and is segmented by Product Type (Meat Substitutes, Dairy Alternative Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, Non-dairy Spreads, and Other Plant-Based Products); and Distribution Channel (Supermarkets/Hypermarkets, Convenience/Grocery Stores, Online Retail Stores, and Other Distribution Channels)

In 2021, the global functional foods and beverage market was worth 281.14 billion U.S. dollars. The market is predicted to grow at a compound annual growth rate of about 9.5 percent between 2021 and 2028. For 2028, the market is forecast to be worth over half a trillion U.S. dollars.

The organic food and beverage market reflects a remarkable trajectory from 2024 to 2034, indicating a robust growth rate. After a thorough survey, the market growth equates to a healthy CAGR of 13.00% during the forecast period.

Catalysts Behind the Growth of the Organic Food and Beverage Market

Category-wise Outlook

Country-wise Analysis

The industry has registered a growth of 6.2% in 2024 from that of the last year and by 2025 it is all set to reach a total value of USD 182.2 billion. In the prediction period where 2025 is to 2035, the industry will increase by 5.4% CAGR and is expected to reach USD 308.3 billion.

Semi-Annual Market Update

Country-wise Insight

The global plant based food and beverage market value reached approximately USD 23.96 billion in 2024. The market is further projected to grow at a CAGR of 9.4% between 2025 and 2034, reaching a value of USD 54.23 billion by 2034.

The Food And Beverage Industry Pumps Market is projected to grow at 7.9% CAGR, reaching $15.53 Billion by 2029. Where is the industry heading next? Get the sample report now!