The global F&B industry was valued at $9.2 trillion in 2024, reflecting a 5.6% growth from 2023, according to Cognitive Market Research. Looking ahead to 2025, Circana forecasts a 2-4% increase in dollar sales, 1.5-3.5% growth in price, and a ~1% rise in volume
In 2024, key F&B trends were shaped by technological innovation, sustainability, and the rising demand for functional food and beverage products. Consumers have become increasingly mindful of the health and environmental impact of their food choices.
Notable Trends Include:
Rising Demand for Functionality: Health-conscious consumers are driving the demand for functional products that offer benefits beyond basic nutrition. A poll by the International Food Information Council shows 45% of participants prioritize foods enhanced with probiotics or vitamins. High-protein snacks, drinks, and meal replacements are increasingly favored by fitness enthusiasts and busy professionals.
A Heightened Focus on Sustainability and Eco-friendly Practices: The World Economic Forum estimates that sustainable packaging could reduce carbon emissions by up to 25% over the next decade. Packaging has become more minimalistic, reusable, and biodegradable, with compostable plastics and seaweed wraps gaining popularity. The market for lab-grown and plant-based meat is rapidly growing, addressing ethical and environmental concerns.
Advancements in Technology: Technological innovation is transforming the F&B industry by enhancing efficiency, minimizing waste, and personalizing customer experiences. Companies like Coca-Cola are using AI in their Freestyle vending machines to customize beverage options, while Nestlé has been leveraging AI to tailor products and marketing to regional preferences. Startups like Spoon Guru have applied machine learning to provide personalized dietary advice to their customer base. Blockchain technologies have enhanced transparency and supply chain traceability, boosting customer confidence and ensuring real-time tracking from farm to fork.
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