Emerging trends that are expected to have a major impact on consumer demand in the upcoming years are indicative of the extraordinary transition that the food and beverage sector is going through. The future of the food and beverage industry is being shaped by the use of cutting-edge technology like artificial intelligence (AI) and machine learning, sustainable practices, hyperlocal sourcing, and alternative food sources. The Top 10 Food & Beverages Markets Will Grow From USD 164.02 billion In 2023 To USD 179.83 billion by 2024 At A Yoy Increase Of 9.6%. The Food & Beverages Industry Outlook covers plant-based protein market, plant-based meat market, food-testing market, food certification market, precision fermentation ingredients market, food robotics market, personalized nutrition market, probiotics market, regenerative agriculture market, and food traceability markets.
Get the Latest Edition of the PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=31067591
Food & beverages industry developments in 2023 and upcoming predictions in 2024
The food and beverage business is going through major changes in 2023, including a rise in environmentally friendly practices, a greater uptake of cutting-edge technologies, and calculated moves by major firms. The year was marked by expansion into new markets, extensive use of technology in the supply chain and agriculture industries, and a rise in the demand for plant-based and sustainable substitutes. A number of trends are expected to influence the direction that the industry takes by 2024. Production processes will continue to be redefined by the integration of cutting-edge technology like automation and artificial intelligence, and industry leaders will compete more fiercely. In 2024, the emphasis on food safety, compliance with industry regulations, and the exploration of innovative solutions, such as precision fermentation and personalized nutrition, will be pivotal in steering the course of the food and beverage industry. Meeting the challenge of balancing innovation with regulatory compliance and addressing the complexities of supply chain visibility will be critical for industry players in the coming year.
Significant businesses showcased:
In the rapidly evolving landscape of the food and beverage industry, key companies are spearheading transformative initiatives across various sectors. In the alternative protein industry, Cargill (US) and Wilmar International Ltd., (Singapore) are pioneering plant-based and lab-grown protein innovations. The realm of food automation sees global leaders such as ABB (Switzerland), Rockwell Automation (USA), and Siemens (Germany) harnessing robotics and smart technologies to enhance production efficiency. For ensuring food safety, Thermo Fisher Scientific (USA) and Neogen Corporation (USA) are at the forefront, providing advanced solutions for quality control and pathogen detection. Personalized nutrition is advanced by Nutrigenomix (Canada) and DNAfit (United Kingdom), tailoring dietary recommendations based on genetic insights. In the regenerative agriculture sector, companies like Indigo Agriculture (USA) and General Mills (USA) champion sustainable farming practices. Finally, precision fermentation is driven by innovators like Ginkgo Bioworks (USA) and Perfect Day (USA), offering scalable and sustainable solutions for alternative protein production. Together, these companies exemplify the diverse and dynamic future of the food and beverage industry. In 2024, food & beverage players will continue investments in advanced food technologies in unexplored countries and focus on delivering healthy and safe food to consumers.
Schedule a call with our Analysts to discuss your business needs: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=31067591
