Latest food and beverage market forecasts: The global food and beverage market size is expected to grow from $5.8 trillion in 2021 to $6.4 trillion in 2022 at a growth rate of 9.7%. The food and beverage market size is expected to grow to $8.9 trillion in 2026 at a compound annual growth rate of 8.7%.
Influential food and beverage industry trends: The demand for clean label products is increasing rapidly, owing to a significant rise in awareness of healthy eating. Clean label products do not contain additives, artificial flavor enhancers, dyes, or artificial preservatives. Also, many food service and retail grocery store chains are stating lists of ingredients that cannot be present in food items in their stores or restaurants. Many manufacturers and producers are also increasingly using natural ingredients and have reduced the use of artificial colors and flavors. Another key trend is the increased demand for functional beverages, with many individuals seeking specialized drinks to stay hydrated and maintain nutritional balance. To capitalize on this segment, companies are introducing fortified beverages such as functional juices, and functional water with health benefits, such as water balance, weight management, and improved digestion.
Top distribution channels: The food and beverage market is segmented by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, and other channels. The supermarkets/hypermarkets market was the largest segment of the food and beverages market segmented by distribution channel, accounting for 58.7% of the total in 2021. 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 13.2% during 2021-2026.
Reference:
https://blog.marketresearch.com/key-insights-into-the-global-food-and-beverage-market
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Stakeholders are being encouraged to weigh in on the European Chemicals Agency (ECHA) 60-day public consultation period related to a planned ban on per-and-polyfluoroalkyl (PFAS) substances, also known as forever chemicals.
We’re pleased to share an important milestone in our sustainability journey.
ExSyn has been awarded the EcoVadis Platinum Medal, placing us among the top 1% of companies globally evaluated for environmental, social and ethical performance.
While fears around a complete shutdown of the Strait of Hormuz primarily raise concerns around oil prices and energy security, recent history shows that even partial disruptions or security threats along key sea routes can quickly spill over into freight inflation, longer transit times and working capital stress for exporters and importers.
The European Union (EU) has agreed to offer Indian pharmaceutical and medical devices companies preferential access to EU market, along with cutting tariffs on 97.5 percent of chemical products to zero.
As we approach the close of this year, we at ExSyn would like to extend our heartfelt gratitude for your trust, collaboration, and continued support. Your confidence in our products and services has been the driving force behind our growth and success.
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