How consumer trends are changing the FMCG market landscape
According to MarketsandMarkets The global food market is expected to reach 191.8 million in 2027. MarketsandMarkets says that the growth is due to the increasing consumption of food, drinks and other food items, as well as the preference of consumers for premium and affordable food items. In 2017, the world’s population grew to 755 billion as of 2017, and is projected to increase to 927 billion in 2027. By 2027, the biggest market for FMCG items is expected to be the dairy industry. Dairy products are favored by customers due to their quality and value. While the market is still strong for meat and poultry but vegetarians are becoming increasingly well-known. There are a variety of reasons behind this trend, such as the environment or diet restrictions. The the future of food is bright for companies that focus on developing new food products and focus on low-cost products. Nestle Waters, Coca-Cola Co. (KO), Kellogg Company and Co. KGaA(NOK), Johnson & Johnson JNJ, PepsiCo Inc. (PEP), Johnson & Johnson JNJ and Hershey Chocolate Company HERSHEY CHF, Switzerland AG(CHF) are among the most prominent companies that are expected to be the leaders in this industry. It is believed that the United States is currently the biggest food buyer in the world. It was the world’s biggest food buyer in 2017spending around $1 trillion. 1 destination for food consumption. The city is the home of numerous of the top food and retail outlets across America and also the majority of America’s consumption of food. It is estimated that Europeans consumed 78 percent of the world’s production in the year 2017. But, the amount of food consumed by Europeans decreased over the past five years, despite the increase. This could be because of the aging of populations and rising cost of living. Asia-Pacific will continue to increase food consumption. A lot of developing nations in the region struggle to provide enough nutritious food to feed their population. Asia-Pacific will remain a major source of revenue sources for companies that manufacture food items that are ready to eat or grocery-based. South America will likely be the main consumer of food. The region is home to a variety of natural resourcesthat make it a great location to produce and consume goods. Sugarcane, various crops such as soybeans and beans are all suitable for Petrochemicals as well as coffee beans that can be utilized in coffeehouses across South America. These are the major players in global food production. They also play significant parts in different sectors such as agriculture, retail as well as beverage production, marketing and. They make up around 20 percent of the global food sales, however they are also the largest source of sales for food. They are involved across a variety of industries, such as supermarket chains, restaurant chains in addition to processing and snack food manufacturing.
The future of food trends will be driven by the consumer preference in FMCG as well as dairy items. The next big trend in food. There are a number of FMCG companies are starting to dominate the market. PepsiCo as well as Walmart are in the five top FMCG firms. J.P. Morgan Chase and Benetton are in the top 10 FMCG companies. It is difficult to keep markets for prolonged periods of time for a single company that has so many choices.