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:
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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jun 2024
Sources: Statista Market Insights, Statista Consumer Insights Global
Most recent update: Sep 2024
Source: Statista Market Insights
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.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights