Top 10 Markets in the Global Food Retail Sector
The food retail industry is an exciting and rapidly evolving industry across the globe, driven by innovations in sustainability and health and changes in customer taste and technology. As the outlook of consumers shifts toward solutions that are more convenient, environment-friendly, and healthy, there has been an accelerated series of market growth in some of the markets within food retail. Take a glance at the top 10 markets shaping the future of global food retail, ranging from the most traditional FMCG products to the most technologically advanced food.
1. FMCG Market
The fast-moving consumer goods market encompasses an array of every day-use goods, such as prepared foods and beverages. That still is a main component in the global food retail business. There is a growth in convenience foods, especially in developing markets, and an increase in demand for greener and healthier options for everyday consumers. An industry report predicts that online or electronic commerce and digitalization will lead the global FMCG industry to increase up to USD 148.51 Billion by 2031.
2. Fast Food Market
High demand for rapid, low-priced, and easy-to-consume meals are contributory factors for the sustenance of fast-food companies in the market. Major players in the fast-food market are focusing on menu diversity, healthy foods, and web order facilities as the global market is estimated to reach over USD 750.08 Billion by 2031. Major contributory factors include urbanization, the number of people who are always on the go, and improvement in delivery technology. Fast food restaurants are also increasing within regions, especially in Asia and Africa.
3. Cannabis Testing Market
Cannabis testing has experienced a rapid increase in the market recently as cannabis is becoming increasingly legalized in most nations. Above all, the infusing products sold in food stores are causing the boom in expansion. The main drivers for the cannabis testing market growth include increasing regulatory compliance, growing food safety concerns, and increased demand from consumers to know the truth. Industry professionals report that the cannabis testing market is to cross above USD 21.9 billion by 2031 with the popularity of cannabis-infused foods going up in North America and Europe.
4. Artificial Sweetener Market
The high emphasis on sugar reduction and healthy eating demands the consumption of more artificial sweeteners, which are commonly used in low-calorie meals and beverages. The increasing prevalence of lifestyle diseases, such as diabetes and obesity, contributes to one of the most significant market drivers. Industrial growth also comes as a result of technological advancements in sweeteners, for instance plant-based alternatives. By 2031, the global artificial sweeteners industry will reach more than USD2.74 billion.
5. Feed Acidulants Market
As global meat production answers the call of higher demand, feed acidulants, which increase the quality of animal feed while providing extended shelf life and nutritional benefits, will gain significant importance. The major driving forces are rising legislation related to animal feed, increased animal produce, and concern for greater safety in food and enhanced welfare of animals. The feed acidulants market is expected to grow in size over USD 4.56 billion by 2031.
6. Superfood Powders Market
Superfood powders are becoming trendy as an additive in smoothies, snacks, and health supplements. They come from nutrient-dense superfoods such as matcha, acai, and spirulina. It's driven mainly by customers who want additional functional foods, particularly in North America and Europe. The superfood powders market growth is expected at a compound annual growth rate of 7.2% by 2031 for their demand due to consumer interest in plant-based diets and health trends.
7. Food Logistics Market
Strong food logistics will meet the booming global demand for frozen foods, fresh vegetables, and prepared meals. Improving e-commerce and meal delivery services make cold chain solutions and real-time tracking in meal logistics important. Hence, the global food logistics market is expected to grow to more than USD 206.81 billion through an annual growth rate of 6.9% by 2031.
8. Food Robotics Market
Manufacturing, packaging, and service are changing the face of the retail food industry. What's happening with food robots is that such technologies automate processes in businesses, cut labor costs, and attend to customer demands for fast foods. On the other hand, the value of the food robotics industry is estimated to be worth USD 8.87 billion by 2031. This is due to an advancement in artificial intelligence and machine learning.
9. Sports Drinks Market
Sports drinks have become one of the growing products as more consumers take up active living and fitness. New formulas in the product innovations dealing with hydration, energy, and recovery-low sugar and organic-is changing the game in the industry. Fitness trends are also bugging on mainstreams, health awareness is rising, and endurance sport participation is rising; hence, the sports drink market will grow to USD 36.89 billion by 2031.
10. Clean Label Ingredients Market
This is driven by increasing consumer demand for transparency in food items. Clean labels describe products with fewer identifiable components and no artificial additions or preservatives. As producers of food respond to growing expectations from customers for healthier and more natural options, the clean label ingredients market share is expected to grow dramatically and is projected to reach USD 88.02 billion by 2031.
Health, Convenience, and Sustainability Lead the Way
Changing consumer preferences across the globe due to more convenient, sustainable, and healthful food options, the global food retail industry enjoys rapid growth. The rapidly growing emerging businesses of food robots, superfood powders, and artificial sweeteners are transforming the landscape of the food industry. Businesses within these categories are well aligned with the opportunities and innovations unlocked by changes in consumer behavior, health trends, and technology improvements. Retailers and food producers that want to maintain their edge over competitors will need to pay close attention to how these markets change over time.
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