A new market study, titled â€œDiscover Global Food Spreads Market Upcoming Trends, Growth Drivers and Challengesâ€ has been featured on WiseGuyReports.
The food and beverage industry can be described as an industry where companies are involved in the processing of raw food items, packaging, and distribution. This comprises ready-to-eat-foods, fresh foods, packaged food items, and alcoholic and non-alcoholic beverages. Food and beverage industry is considered one of the most rapidly evolving industries.
Global Food Spreads Market was valued at USD xx billion in 2017 and is expected to reach USD xx billion by 2025, with a CAGR of xx% during the forecast period (2018-2025). Common spreads include dairy spreads (such as cheeses, creams, and butter, although the term “butter” is broadly applied to many spreads), honey, and plant-derived spreads (such as jams, jellies, and hummus) are also used widely.
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Food and beverages play an integral role in modern people’s daily life. Bored with their drab way of living, people like to explore interesting and new stuff each day to make their life happening. In their quest to leading an exciting lifestyle, food and beverages play a major part. Among the list of food and beverages produced, soft drinks find a top position which has made the F&B companies bigger.
Key market segments covered
• Chocolate spreads
• Fruit spreads
• Others (marmite, honey)
• Asia Pacific
• North America
• South America
• Rest of the World
The F&B industry is divided into two major segments, namely, production and distribution. Production is the processing of cheese and meat and the making of alcoholic beverages, soft drinks, packaged food items, and other modified foods. Distribution involves transportation of the finished products into the hands of the consumers. The industry highly focuses on technology and mechanical manipulation of raw food items to create value-added products.
The food and beverage industry operates at the mercy of the changing preferences and tastes of the consumers. Social intelligence is considered an integral part of the research mix since F&B brands attempt to spot the social change and augmenting trends to respond to effective strategies. Consumers require functional and fortified food which fuel their brain, promote gut health, and also benefit their physical appearance. Grocery shelves of the stores will soon be stacked with items like kombucha and products which offer a function to the consumer’s bodies.
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The growing consumer demand for transparency is one of the biggest trends impacting market growth. Consumers now want to have a clear knowledge about the ingredients of their food products. They seek simplicity besides better food quality. They always look for brands that share transparency and reflect their values. With consumers demanding to know about the food they consume, safety related to food are costing the industry billions every year.
With so many options available for purchase in a multitude of channels; right from the farmer’s market to in-store, social media, online, and more, product innovation has an important role to play to augment the market’s growth. Industry bigshots are looking at emerging technologies for innovation. For instance, Kraft Heinz has opened an all-new digital hub which launches entrepreneurial ideas and creates digitally powered business models to propel the growth of the company.
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