Food - Americas

Americas

Revenue in the Food market amounts to US$1,719.00bn in 2024. The market is expected to grow annually by 5.19% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$326.80bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,685.00 are generated in 2024.
In the Food market, 12.9% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 482.80bn kg by 2029. The Food market is expected to show a volume growth of 2.9% in 2025.
The average volume per person in the Food market is expected to amount to 420.30kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in the Americas is seeing steady growth, influenced by factors such as increasing health consciousness, convenience of online services, and a diverse range of sub-markets including dairy products, meats, fruits, and more. Despite some sub-markets experiencing minimal growth, the overall market is still impacted by consumer preferences, changing diets, and shifts in the economy.

Customer preferences: As consumers in The Food market market become more health-conscious, there has been a rise in demand for personalized nutrition solutions and functional foods. This trend is influenced by factors such as the growing interest in plant-based and organic diets, as well as the increasing awareness of food allergies and intolerances. Additionally, the shift towards online grocery shopping and meal delivery services has also been accelerated by the COVID-19 pandemic, highlighting the importance of convenience and safety in food consumption.

Trends in the market: In the Americas, The Food market is experiencing a surge in demand for organic and sustainable food products. Consumers are increasingly prioritizing health and wellness, leading to a rise in demand for plant-based and clean label options. This trend is expected to continue, with consumers becoming more conscious of the environmental and social impact of their food choices. Industry stakeholders will need to adapt to meet these changing consumer preferences, potentially through increased investment in sustainable sourcing and production methods.

Local special circumstances: In the Americas, The Food market is heavily influenced by the diverse cultural backgrounds and preferences of the population. For example, in the United States, the growing trend towards healthy and sustainable food options has led to the rise of organic and plant-based food products. In Mexico, the market is heavily influenced by traditional cuisine and the demand for authentic, locally-sourced ingredients. In Canada, the increasing awareness of food allergies and dietary restrictions has led to the popularity of specialty food products, such as gluten-free and vegan options. These unique local factors play a significant role in shaping the dynamics of The Food market in the Americas.

Underlying macroeconomic factors: The Food market market in the Americas is heavily influenced by macroeconomic factors such as consumer spending, population growth, and trade policies. With a growing population and a strong consumer base in the region, there is a high demand for food products, leading to a robust market performance. However, fluctuations in national economic health and changes in fiscal policies can impact the market, resulting in shifts in consumer spending and market growth. Additionally, global economic trends, such as trade agreements and tariffs, can also have a significant impact on The Food market in the Americas, as it heavily relies on imports and exports. It is crucial for businesses operating in this market to closely monitor and adapt to these macroeconomic factors to stay competitive and sustain growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.