Ultra Market Research | Food Product Market
Food Product Market Analysis - Innovations and trends in packaged foods, beverages, and health and wellness products.

Food Product Market

  • Report ID : 576

  • Category : Food-and-Beverage,Retail

  • No Of Pages : 150

  • Published on: July 2024

  • Status: Published

  • Format : Power Point PDF Excel Word

Key Question Answer

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Global Market Outlook

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In-depth analysis of global and regional trends

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Analyze and identify the major players in the market, their market share, key developments, etc.

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To understand the capability of the major players based on products offered, financials, and strategies.

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Identify disrupting products, companies, and trends.

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To identify opportunities in the market.

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Analyze the regional penetration of players, products, and services in the market.

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Comparison of major players financial performance.

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Evaluate strategies adopted by major players.

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Recommendations

Food Product Market


A food product is defined as any thing designed to be taken or absorbed for nutrition, pleasure, or nourishment. For human use, these things are frequently processed, packaged, and packed. Consumer demand for food commodities varies by area, cultural preferences, and financial status. To customize food items to local tastes and preferences, successful local, regional, and international firms that sell foods to these markets employ increasingly complicated technologies and business methods.
Amount of items purchased at retail facilities is larger in wealthy countries, reflecting the increased demand for variety as income rises. For example, the top five product categories account for 71% of retail processed food sales in Mexico and 74% in India, but just 48% and 47%, respectively, in the United States and the United Kingdom. The top five product categories globally are chilled foods, fizzy beverages, confectionery, bread, and dairy products.

 

Market Dynamic

Driver

  • Increasing Consumer Demand of Food:
    consumer is a significant driving force in the global food industry. Rising affluence, urbanization-related lifestyle changes, and evolving family patterns have all led to dietary shifts among consumers worldwide. Global demand for higher-value and processed food products has increased due to either increased purchasing power or a higher opportunity cost of time spent preparing meals.
    Increasing Income of Consumer: As incomes rise, consumers increasingly replace products in their diet with those that provide higher levels of value-added service. It drives the worldwide food products market.
     

Restraints 

  • Regulatory Issue: food industry is heavily regulated, and changes to the laws for labeling and food safety may cause problems for producers. Regulations are being scrutinized more rigorously because they impact the selling of innovative agricultural products and technologies.
     

Challenges 

  • Demand for processed foods is also driven by the need for higher-quality, more labor-efficient items that are consumed in countries with varied economic levels. The goods' levels of demand for the services they represent reflect these disparities in demand.
  • For example, ready-to-eat meals account for approximately 4% of total retail sales in the United States and the United Kingdom, but only 0.6%, 0.5%, and 0% of sales in Mexico, China, and India. However, despite accounting for nearly 7% of total processed food retail sales in India, 13% in Indonesia, and 5% or more in many developing countries, intermediate products such as fats and oils account for less than 2% of sales in high-income countries.
     

Trends

  • Trends in the soft drink and beverage sector usually reflect consumers' ability to purchase more expensive goods. For example, increased soft drink spending in emerging markets is connected to rising income, implying that consumers have more money to spend on processed foods.
  • Competitive Landscape Being competitive in the global food market is difficult because firms must continuously adjust to the demands of more affluent and discriminating customers for higher-quality and more diverse products.

 

Market Segmentation

  • Product Type

Dairy Products

Grains and Cereals

Bakery Product

Fruits and Vegetables, other

 

  • Consumer Preferences

Convenience Foods

Ethnic Foods

Specialty Foods

other

 

  • Distribution Channels

Foodservice

Wholesale

Bulk

Retail

Online

 

  • Food Processing Type

Fresh Food

Processed Food

Packaged Food

Frozen Food

 

  • By Geography: 

o    North America

o    Europe

o    Asia-Pacific

o    Latin America

o    Middle East & Africa
 

  • Key Players
    Danone (Argentina)
    Nestlé (Australia)
    Unilever (Austria)
    Obedinena (Bulgaria)
    Kraft Foods (Canada)
    Alpina (Colombia)
    Valio Oy (Finland)
    GlaxoSmithKline (India)
    Glanbia (Ireland)
    Vadash (Israel)
    Barilla (Italy)
    Morinaga (Japan)
    Yep Hiap Seng (Malaysia)
    PepsiCo (Mexico)
    Indusalim (Morocco)
    Fonterra (New Zealand)
    Migros (Switzerland)
     
  • Recent Acquisition and Merger:
  • On December 2022, A minority investment in Indonesia's PT Garudafood Putra Putri Jaya Tbk ("Garudafood") has been bought, according to a statement from Hormel Foods Corporation. The connection with Garudafood, which has been crucial in assisting corporate expansion into Indonesia and Southeast Asia, is strengthened by this strategic investment.
  • On September 2023, A deal between Nestlé and Advent International to buy the majority of Grupo CRM, a Brazilian provider of high-end chocolate, has been announced. With more than 1000 chocolate shops operating under the Kopenhagen and Brasil Cacau brands, plus a strong, expanding internet presence, Grupo CRM successfully employs a direct-to-consumer business model.
  • On June 2023, Superlatus, Inc. and TRxADE HEALTH, Inc. will merge to develop a global platform for food consolidation.
     
  • Key Target Audience
    End User
    Potential Investors
    New Entrants
    Innovation and R&D
    Suppliers and Manufacturers
    Others

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