Food & Beverage

The food industry is a complex, global collective of diverse businesses that supply much of the food energy consumed by the world population. Only subsistence farmers, those who survive on what they grow, can be considered outside of the scope of the modern food industry. The food industry includes: Regulation: local, regional, national and international rules and regulations for food production and sale, including food quality and food safety, and industry lobbying activities; Education: academic, vocational, consultancy; Research and development: food technology; Financial services insurance, credit; Manufacturing: agrochemicals, seed, farm machinery and supplies, agricultural construction, etc; Agriculture: raising of crops and livestock, seafood; Food processing: preparation of fresh products for market, manufacture of prepared food products; Marketing: promotion of generic products (e.g. milk board), new products, public opinion, through advertising, packaging, public relations, etc; Wholesale and distribution: warehousing, transportation, logistics; Retailing. The global food and beverage retail industry has witnessed significant growth over the last five years and is expected to continue its growth momentum, reaching approximately US $5,776 billion with a CAGR of 5% over the next five years. Macroeconomic factors such as burgeoning GDP, increasing consumer spending and changing lifestyle, taste, and preferences are expected to drive the industry over the forecast period.