Many manufacturers and producers are increasingly using natural ingredients and have also reduced the use of artificial colors and flavors. Health concerns of consumers is increasing the sales of products with natural ingredients, additives and coloring agents. For instance, Pizza Hut stopped using artificial flavors and colors in its US stores in 2015.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL FOOD AND BEVERAGES MARKET TO GROW TO $8 TRILLION BY 2021
Asia Pacific was the largest region in the food and beverages market in 2017, accounting for one-third of the market share. This was mainly due to the presence of many food and beverage manufacturing companies catering to a large population in countries such as China and India.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, there has been an increased demand for functional beverages with many individuals seeking drinks to stay hydrated and to maintain nutritional balance. To capitalize on this segment companies are introducing fortified beverages such as functional juices, functional water with health benefits such as water balance, weight management and improved digestion. Major companies offering functional drinks are PepsiCo Inc., Maxinutrition, Glanbia, GNC Holdings, Clif Bar & Company, The Coca-Cola Company, Nestle S.A, Red Bull GmbH, Dr Pepper Snapple Group Inc., and Groupe Danone.
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Nestlé S.A was the largest player in the food and beverages market, with revenues of $90.8 billion in 2016. Nestlé’s growth strategy aims at increasing revenues by introducing new products in the ready to eat frozen breakfast segment. In 2015, the company introduced new ranges of Lean Cuisine and Stouffer’s branded frozen ready to eat breakfast under the banner Morning Collection. This range includes varieties of English muffins, cooked oatmeal, sausage and egg scramble. This strategy helped Nestle to compensate losses from the declined sales of other frozen ready to eat foods.
The food and beverages industry comprise 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.Food And Beverages Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $8000 for an individual user. To use across your office, the price is $12000 and $16000 if you wish to use across a multinational company.
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