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The food industry has seen several growing trends recently revolving around sustainability and healthy living. More and more consumers are interested in brands that are not only going to offer them healthy and nutritious food but that take environmental and ethical concerns in food manufacturing seriously as well.
Chief among these trends is plant-based food. An increasing amount of consumers are interested in at least supplanting part of their meat intake with plant-based foods and a growing number of brands are rising to fill that need. Perhaps the most famous are meat substitute brands Beyond Meat and Impossible Foods. Plant-based offerings have gone far beyond just burger patties. Plant-based alternatives are available for a variety of meats, seafood, and eggs. While plant-based meat shows the first signs of slowing down cultured meat products are gearing up to take the stage.
Revenue of the food market worldwide in 2022, by country (in billion U.S. dollars)
Further details: Visit original statistic Revenue of the food market worldwide in 2022, by country (in billion U.S. dollars)
The revenue generated by China's food market topped 1.26 trillion U.S. dollars in 2022, making it the largest food market on Earth. The United States was the second largest market, with a value of 965 billion dollars in that year. Despite being the second largest country by population, India was third in terms of its food market value, at only 866.7 billion dollars.
Despite all three countries having roughly the same share of middle-class households, food prices in India were lower.
Per capita consumption of food products in the United States in 2023, by type (in kilograms)
Further details: Visit original statistic Per capita consumption of food products in the United States in 2023, by type (in kilograms)
U.S. consumers eat over 122kg of dairy products and eggs annually. This makes it the leading market segment in the United States measured in consumption. Measured in revenue confectionery and snacks are the biggest seller, followed by meat.
Lower-income countries generally see a much larger consumption of staple food products like bread or rice, while the consumption of meat, fats, and sweeteners is lower in comparison with the U.S. market.
Organic food sales in the United States from 2005 to 2021 (in billion U.S. dollars)
Further details: Visit original statistic Organic food sales in the United States from 2005 to 2021 (in billion U.S. dollars)
Organic food sales in the United States reached 57.5 billion U.S. dollars in value in 2021, up from 13.26 billion in 2005. This represents over 300 percent growth over the period.
Organic food, once a niche feature of specialty health food stores, has reached broad appeal in the United States. Certified organic foods represent the pinnacle of the broader "better-for-you" trend in food retail. Brands featuring a USDA certified organic label must meet stringent criteria to do so.
Leading food and beverage companies in North America in 2021/2022, based on sales (in million U.S. dollars)
Further details: Visit original statistic Leading food and beverage companies in North America in 2021/2022, based on sales (in million U.S. dollars)
PepsiCo was the leading food and beverage company in the U.S. market during the 2021 financial year. The company from North Carolina generated 47.6 billion U.S. dollars in food sales. This puts PepsiCo over two billion U.S. dollars ahead of meat processor Tyson Foods.
PepsiCo’s brands include several consumer-favorite drinks, chips, and other snack food. The company's products are also popular abroad where they generate a further 31 billion in sales.
The food industry is a multifaceted, complex market responsible for the production of all food for human consumption. At its broadest level, the industry could be split into fresh and packaged foods. Fresh foods are all those which have a relatively short shelf-life, like produce, fresh baked goods, meat, and seafood. Packaged food is everything else that one would find in a supermarket. This ranges from categories like frozen food to sauces and seasonings. Nutrition comprises everything that food contains and its effects, positive and negative, on the body. This aspect of the food industry relates to food choices consumers make based on what they hope to get from their food. This can range from healthy food choices and diets to a taste-first approach that views nutritional value as of secondary importance. That said, health-focused food is one of the biggest ongoing trends in the industry as more consumers are looking to eat healthier, even when it comes to snacks.
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