Food & Beverages Industry Market Trends, Growth, Size, Segmentation and Forecast
Posted by Faraz on March 23rd, 2020
The global food & beverage industry includes various online food chains and offline food chains. The food & beverage industry includes the companies working in processing raw food materials, packaging, and distribution which include prepared foods and packaged foods, along with alcoholic and non-alcoholic beverages. The primary factors for the growth of the food & beverages industry before COVID-19 pandemic includes the rise in the number of on the go consumers and increased adoption of ready to eat food. Further, steadily increasing population and per capital income and changing lifestyle were other growth-enhancing factors of the food & beverages industry. However, the key factors that affect the food & beverage industry after the pandemic include the shutdowns of the restaurants and other seating areas.
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The prominent players operating in the global food & beverage industry include Starbucks Corp., McDonald's Corp., Subway, Burger King, KFC, Home Original Chicken / Laoxiangji, Dunkin' Donuts, Dairy Queen, Papa John’s Pizza, The Coca-Cola Co., PepsiCo among others.
The global food & beverage industry report is segmented based on online food chains and offline food chains. The outbreak of COVID-19 had a dual impact on these segments. That includes the offline food chains that are restaurants and cafes that are entirely shut down in some regions, whereas, online food deliveries are available. In addition, packaged food and beverage industries are witnessing an upsurge in the demand, such as shelf-stable foods and beverages including milk products, as consumers rush to stock the pantries. The novel COVID-19 has impacted the food & beverage industry in almost all regions including North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific and Europe are the largely impacted region across the globe.
Verticals Affected Most
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This is attributed to most of the cases recorded in the regions especially in the countries including Italy, Spain, Germany, France in Europe, and China, Japan, and South Korea in Asia-Pacific. The Chinese government has shut all the restaurants and cafes in the country. Apart from the food chains, the supply chain has been largely impacted by the pandemic COVID-19, as there is a disruption in the supply chain. For instance, Coca Cola Co. experienced delays in its raw material supply from china as a result of industrial stalls related to the spread of COVID-19 in China. The company sources sucralose from both the US and China, however, has flagged that Chinese suppliers have experienced delays in production and export.
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About the AuthorFaraz
Joined: November 26th, 2019
Articles Posted: 232
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