The food and beverages industry comprises of establishments engaged in manufacturing beverages, food, pet food and tobacco products. The companies in the food and beverages industry process raw materials into food products, package and distribute them through various distribution channels to both individual customers and commercial establishments.
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The reasons for substantial growth of the market from $5 trillion in 2017 to $6.5 trillion by 2021 is due to the economic growth and increasing organic food consumption.
In the report, the global food and beverages market is divided into ten segments. Meat, poultry and seafood was the largest segment in the market accounting for, nearly 20% of the market and bakery & confectionary was the second largest segment in the market accounting for nearly, 15% of the market and the remaining 65% is occupied by the other eight segments, namely, alcoholic – beverages, dairy, tobacco products, non-alcoholic – beverages, frozen and fruit & veg, syrup, seasoning, oils, & general food, grain products and pet food.
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The USA was the largest country in the food and beverages market in 2017, accounting for nearly, one-fifth of the market share. This was due to the presence of a large number of food and beverage manufacturing companies and a large customer base in the country. China and Japan followed the USA as the next largest countries in the market.
The food and beverages market is fragmented with a number of large and small organizations. The top five competitors in the market made up 5.2% of the total market in 2017. Philip Morris International Inc. was the largest competitor of the market, followed by PepsiCo, Nestle SA, JBS S.A. and Anheuser Busch InBev. Nestlé S.A. is a Swiss food and beverage company that manufactures baby foods, cereals, chocolate and confectionery, coffee, dairy, drinks, healthcare nutrition, pet care and weight management products. It owns more than 2000 brands and operates in more than 190 countries.
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