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Adapting to Digitalization, Adopting New Business Models, and Searching for Palatable Meat Alternatives will Define the Agriculture and Nutrition Industry
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The global processed F&B industry in 2019 will be driven by technological improvements and innovations to help increase the shelf life of products, while dealing with the challenge of food waste at this level of the value chain. Valued at $3.28 trillion in 2018, revenues are expected to reach $3.41 trillion by 2019, given a year-on-year growth of 3.9%, although the revenue trajectory varies widely by product segment and geography.Retailers will take advantage of consumer trends; thus, categories such as free-from and meat substitutes will see an increase in shelf space. The retail sector will also increase investments in eCommerce to increase access to consumers. Social trends such as population growth and urbanization are expected to support the growth in demand for packaged F&B. Furthermore, consumers increasingly want value-added F&B products, which will support market growth, despite a slowdown in economic growth in global economic heavyweights China and the United States, where trade tariffs from 2018 will continue to hurt growth and suppress growth of the F&B industry.While the demand for protein remains high, an increasing number of consumers are not preferring traditional meat, leading the F&B industry to search and find meat alternatives from plant-based protein sources. This search is expected to continue throughout 2019 and beyond. Finally, sustainability will remain a key issue for the F&B packaging industry. Eco-conscious consumers will continue to focus on recyclability of materials and companies will respond to this by searching for materials that will support this trend. Plastic packaging will continue to face substitution pressure.
This research study focuses on the global processed F&B market and includes the following product categories (and subcategories):
The market size for 2018 is provided for each category and subcategory and forecast for 2019. The study also highlights industry trends and growth drivers that are expected in 2019. Forecasts by geography (Asia-Pacific, Eastern Europe, North America, Western Europe, and the Rest of World) are also provided for each product category and subcategory.
Key Issues Addressed
Author: Christopher Shanahan
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