The food & beverage industry is considered the world’s biggest consumer goods market. In 2020, the global food & beverage industry was valued at US $3 trillion. This number is forecasted to soar to US $10 trillion by 2025. This consistent expansion is the result of decades of growth in the industry.
An interesting shift that has sparked this growth is the transition of food and beverage products from a commodity to an experience. This shift is more prominent in developed countries, but it is notable nonetheless.
Exporting Countries
Currently, Asia, Europe, and the United States are the largest consumers in the food & beverage market.
2020 was a turning point in the way that B2B trade works in the food & beverage industry. The start of the pandemic coincided with significant growth in e-commerce trade in the industry. In the last year alone, the use of e-commerce in B2B food & beverage trade has increased by a whopping 30%.
This growth is just the beginning. The use of e-commerce in the food and beverage industry is expected to double again this year. This creates significant opportunities for wholesalers and manufacturers in the food & beverage space.