The Food market covers heavily processed foods of all kinds but excludes fresh produce. The market is further differentiated into Milk Products, Meat Products & Sausages, Processed Fish & Seafood, Processed Vegetables, Fruit & Potato Products, Bread & Bakery Products, Pasta & Rice, Sauces & Condiments, Convenience Food, Breakfast Products, Confectionery, Snack Food, Baby Food and Pet Food. All market values reflect value at retail selling prices, inclusive of all applying sales taxes.

This report from the series of Consumer Market Outlook reports gives an overview of the Food market from an international perspective. Besides all relevant market figures like total and per capita revenues for the years from 2010 to 2023, we furthermore give detailed insights into current trends, key players and relevant background information.

In general, the Food market is expected to grow at a CAGR of 5.6% in nominal terms between 2010 and 2023. the highest growth potential is attributable to the Processed Vegetables, Fruit & Potatoes segment for which we expect an overall relative growth of 33% between 2018 and 2023. Processed foods that are the focus of this report profit especially from rising disposable incomes in emerging markets as consumers opt for more convenience. In developed markets, however, established brand players feel the pinch as they are attacked by nimble upscale startup brands in the upper echelons and by store brands in the lower and middle-range of the market.

Note: CAGR: Compound Annual Growth Rate / average growth rate per year