The food and beverages industry includes business involved in processing raw food materials, packaging, and distributing them. The food and beverage stores includes fresh, prepared foods as well as packaged foods, and alcoholic and nonalcoholic beverages. There has been significant increase in demand for health foods and more informative nutritional labeling over wide range of food & beverages. This have led to companies in releasing of low calorie foods and focusing on how better control on their brand is viewed. Companies intends to be regarded as a healthy brand and are promoting activities, such as youth sports, that shows positive side and benefits of consuming particular product by its customers. The food and beverage stores market consists of sales of food and beverages and other associated services by entities that retail food and beverages merchandise, from fixed point-of-sale locations. This industry includes the stores such as grocery stores, specialty food stores, convenience stores and beer, wine and liquor stores.
According to study “Food and Beverage Stores Global Market Report 2019” Some of the key players operating in the market are Philip Morris International Inc., PepsiCo, Nestle SA, JBS S.A, and Anheuser Busch InBev.
There has been significant rise in demand for health foods and more informative towards covering all health aspects. Concerns towards health and rise in awareness by internet have led companies to release detailed information on ingredients used while manufacturing the food & beverage. The technological development and rise in Innovations in the automation technology have significantly supported the retail stores and have led increase in using of in-store automation to streamline the retail shopping. Automation in retail stores have been designed with objective of supporting the automating store operations such as container movement, merchandise scanning, inventory checking, retrieving, packaging, and delivering products, and connecting with customers. The automation activities also reduces the waiting times, avoids stocking problems, enhances productivity, and increasing overall customer experience.
The Asia Pacific region is the largest region in terms of volume and value for the global food and beverage stores market, accounting for near to half of market followed by Eastern Europe which was the second largest region accounting for one-fifth of the global food and beverage stores market. African region is the smallest region. The Asia Pacific is one of the fastest growing region in terms of consumer spending on eating out preferences. The growth of the food and beverages industry is further propelled by the developing countries such as India, China, and Brazil, as the economies of these nations registering a considerable improve and more people are lifted into the middle class. Moreover the wide scale use of technology, mainly IT, have helped industry to evolve the preserving and packaging food thereby manufacturing of foodstuff according to consumer demand. The Asia Pacific region over the forecast period is expected to register the highest growth over next five years owing to increasing urbanization, rising disposable income, expansion of stores, supporting economic factors, and availability of easy finance. A combination of factors with rising population and consumer spending is seen to impact the market dynamics significantly over the forecast period.
For More Information, Click on the Link Below:-
Ankur Gupta, Head Marketing & Communications