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 G20 has seen a steady growth rate due to various factors such as increasing demand for convenience food, rising health consciousness among consumers, and the availability of online food services. The sub-markets, such as Dairy Products & Eggs and Meat, Fish & Seafood, play a significant role in driving the overall market growth. Additionally, the growing trend of plant-based diets and the use of sustainable packaging in the food industry are also impacting the market's growth rate.
Customer preferences: As consumers become more health-conscious, there has been a notable increase in demand for organic, natural, and sustainable food options in The Food market market. This trend is driven by growing concerns about the environmental impact of food production and the desire for healthier, traceable food sources. Additionally, with the rise of social media and food blogging, there is a growing interest in trying new and exotic cuisines, leading to an increase in international food options and flavors in the market.
Trends in the market: In the G20, The Food market industry is experiencing a surge in online food delivery services, with a growing number of consumers turning to convenient and contactless options amidst the COVID-19 pandemic. In addition, there is a rising trend of plant-based and sustainable food products, driven by increasing awareness of health and environmental concerns. These trends are expected to continue in the coming years, with potential implications for industry stakeholders such as increased competition and the need for innovation to meet evolving consumer demands.
Local special circumstances: In China, The Food market industry has experienced significant growth due to the country's large and diverse population with varying dietary preferences. The market is also heavily influenced by the government's policies and regulations, which have led to the rise of online food delivery platforms. In the United States, the market is driven by the increasing health consciousness among consumers, leading to the demand for organic, healthy, and sustainable food options. The country's advanced technology and infrastructure have also contributed to the growth of e-commerce and direct-to-consumer food sales.
Underlying macroeconomic factors: The growth of The Food market market is also influenced by macroeconomic factors such as consumer spending, trade policies, and government subsidies. Countries with strong consumer spending and supportive trade policies are experiencing faster market growth compared to regions with economic uncertainty and limited government support. Additionally, population growth and changing dietary preferences globally are driving the demand for innovative food products and technologies to meet the evolving needs of consumers.
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