Opportunities for the global food processing market to reach $4.1 trillion by 2024

According to a new market report published by Lucintel, the future of the global food processing market looks promising with opportunities in beverages, dairy, meat & poultry, convenience food & snacks, fruits & vegetables, and seafood industries. The global food processing market is expected to reach an estimated $4.1 trillion by 2024 with a CAGR of 4.3% from 2019 to 2024. The major drivers for this market are increasing demand for ready-to-eat food products, changing lifestyle, and increase in nuclear families and working women.  

In this market, beverages will remain the largest segment due to increasing demand for alcoholic beverages in emerging countries like India, China, Indonesia, and Singapore. Lucintel forecasts that processed fruits & vegetables segment is expected to witness the highest growth over the forecast period due to inclination of people towards vegan diet.

Within this market, organised sector is the fastest growing segment due to significant increase in number of chain outlets, standalone eateries, and resturants.

Asia Pacific will remain the largest region over the forecast period due to increasing demand towards ready-to-eat foods and increasing working professionals and students. The growing health conciousness is enabling the consumers to move towards healthy and high quality food products.

Emerging trends, which have a direct impact on the dynamics of the industry, include development of food processing technologies that reduce detrimental changes in food and maintain the nutritional value. Cargill Foods, Nestle, PepsiCo, Archer Daniels Midland, and Unilever are among the major processed food manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global food processing market by application, product type, industry type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Food Processing Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global food processing market by application, product type, industry type, and region, as follows:

By Application [Value ($B) shipment analysis for 2013 – 2024]:

•          Beverages
•          Dairy                                                                                                           
•          Meat & Poultry
•          Convenience Food & snacks
•          Fruits & Vegetables
•          Seafood        
•          Others

By Product Type [Value $B shipment analysis for 2013 – 2024]:

·         For Beverages

·         Alcoholic Beverages

·         Non-Alcoholic Beverages

·         For Dairy

·         Milk & Cream

·         Yogurt & Curdled Milk

·         Others

·         For Meat & Poultry

·         Canned Meat & Poultry Food

·         Frozen Meat & Poultry Food

·         For Convenience Food & Snacks

·         Ready Meals

·         Chips

·         Nuts & Seeds

·         Others

·         For Fruits & Vegetables

·         Canned

·         Frozen

·         Dried

·         For Seafood

·         Canned

·         Frozen

·         Dried

·         Others   

By Industry Type [$B shipment analysis for 2013 – 2024]:

•           Unorganized Food industry
•           Organized Food industry                                                          

By Region [$B shipment analysis for 2013 – 2024]:

•                      North America
•                      Europe
•                     Asia Pacific
•                    The Rest of the World

This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Consumer Goods Report, Consumer Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers the following 11 key questions:

Q.1.     What are some of the most promising, high-growth opportunities for the food processing market by application (beverages, dairy, meat & poultry, convenience food & snacks, fruits & vegetables, seafood, and others), product type, industry type (unorganized, and organized), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2.     Which segments will grow at a faster pace and why?

Q.3.     Which region will grow at a faster pace and why?

Q.4.     What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5.     What are the business risks and competitive threats in this market?

Q.6.     What are the emerging trends in this market and the reasons behind them?

Q.7.     What are some of the changing demands of customers in the market?

Q.8.     What are the new developments in the market? Which companies are leading these developments?

Q.9.     Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10.   What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11.   What M&A activity has occurred in the last 5 years and what has its impact been on the industry?