Food Summit Market Analysis and Reports | USA Conference Series

Market Analysis - Food Summit 2017

The 18th Global Summit  on Food & Beverages to be held at Chicago, USA during October 02-04, 2017 hosted by Conferenceseries LLC through the theme "Modern & Sustainable Practices in Food and Beverage Sector", conference will explore the advances in Food Science & Processing, Nutrition & Nutritional Management and Public Health etc. It will be a premier event that brings together a unique and International mix of experts, researchers and decision makers both from academia and industry across the globe to exchange their knowledge, experience and research innovations to build a world Food Scientist & Nutritionist meet. Conferenceseries LLC Publishes 700+ Open access journals which contains over 30000 eminent personalities, reputed scientists as editorial board members and Organizes 600+ Conferences every year across USA, Europe & Asia with support from 1000 more scientific societies.

This meet enables a common platform for the participants to discuss their research in order to establish a scientific network between the academia and industry leading to foster collaboration and to evaluate the emerging issues, technologies and innovations leads to explore new possibilities and improving the existed opportunities

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Market Research

Importance & Scope:

1. Globally:

               The global food and beverage industry is growing at 3.5% a year and is expected to be worth more than US$7 trillion by 2014. Key trends for new product development are in health, convenience, naturality and sustainability. New foods based on fruits and vegetables fulfill many of the demands of the premium consumer. The intrinsic “health halo” of natural produce make ingredients derived from fruits and vegetables highly sought after in the global marketplace. The market for functional foods – foods that offer benefits beyond basic nutrition – is one of the fastest growing segments of the global food industry. Foods and beverages that offer validated health claims account for around US$25 billion of global sales, he wider functional food market, including rehydration and sports drinks and foods with softer health claims, is estimated to be worth around US$200 billion.

2. North-America Region:

             The prevention of diet-related diseases is one of the new societal challenges of the 21st century. In October 2011, the world population passed the 7 billion mark. Such growth will put a massive strain on the global food supply. These factors alone make the production and distribution of food a critical issue for the 21st century. The organic food industry is one of the fastest growing sectors of U.S. agriculture. Consumer demand for organic food has continued to grow at a steady pace of 20% or more annually since the 1990s. About 73% of conventional grocery stores and nearly 20,000 natural food stores carry organic products, accounting for approximately 2.5% of total food sales in the United States. Domestic sales estimates of organic foods are $17 billion (all amounts are in U.S. dollars) for 2006, with 39% of those sales for fruit and vegetables (Organic Trade Association 2006). The current demand for organic produce is increasing faster than supply, resulting in expanding trade gaps between imports and exports. The organic sector of the U.S. agricultural system is demanding increased attention from producers, retailers, consumers, and policy makers interested in environmental and health issues within the food system.

3. Europe:

     The major manufacturing hubs in the globe is Europe which constitute the majority share in the food flavors and enhancer market along with North America. European market is a mature market and has several regulatory bodies to regulate stringently the use of food flavors and enhancers, thereby taking care of the consumers of the nations. Germany constitutes the major share having 24% followed by the UK (23%), Spain (10%), Netherland (5%) and Italy (9%). $ 823 million US dollar is the market size by value of the synthetic flavor and $ 755.65 million US dollar is the market size by value of the natural in the year 2014.

4. Asia pacific:

     Asia Pacific is a huge and increasingly influential market in the supply of food and beverage ingredients. As well as accounting for 35% of global value added ingredient supply in this category, it is also a melting point of diverse trends and influences. In 2012, Asia Pacific accounted for 35% of global use of value-added food and drink ingredients, equivalent to almost 8.5 million tones out of a global total of 24.2 million tones. Asia Pacific is also one of the fastest growing regions, with a forecast CAGR of 4% over 2012-2017, behind only the Middle East and Africa, with 5%. This means that by 2017, Asia will have increased its share of the global total to 38%.


Market structure

The US is the world's largest economy and its 320 million people produced US$48,000 per capita GDP in 2011. One in five Americans live in one of the country's eight largest cities. Its consumers expect competitive pricing and offers, and are increasingly concerned about sustainable production, transport and packaging. It is New Zealand's third largest food and beverage market, with US$2.1 billion exports in 2011.

·         US packaged food sales totalled US$332 billion in 2011. The bakery category was worth 21 percent of the total; dairy, 16 percent; frozen processed food, 10 percent; confectionery, 10 percent; and sweet and savoury snacks, 10 percent.

·         Packaged food sales increased by a compound annual growth rate (CAGR) of 2.5 percent during 2006-2011, driven by more meals eaten at home instead of eating out. The highest growth was in snack bars, with a CAGR of 6.6 percent over the five-year period. Pasta grew 5.9 percent in that time, noodles, 4.8 percent; spreads, 4.6 percent; and dairy products, 3.4 percent.

·         Fresh food sales comprised 78 million tonnes by volume in 2011; with meat at 31 percent market share; vegetables, 25 percent; fruits, 23 percent; starchy roots, seven percent; and eggs, six percent. Market growth was stagnant from 2006-2011.

·         The US wine market is the world's second largest behind France, totalling US$34 billion in 2011, equalling 2.73 billion litres. Still light grape wines dominate with an 86 percent market share in value and 91 percent in volume. Sparkling wines have an eight percent share by value and five percent in volume. CAGR sales growth over 2006-2011 was three percent, with imports from Argentina up 13 percent and New Zealand up 40 percent.

·         US organic food sales of US$27 billion in 2010 accounted for 45 percent of the global total, and represented a CAGR of 11.6 percent between 2006 and 2011.

·         The 2011 dairy market was estimated at US$51 billion, representing 15 percent of the global total. Cheese dominates at a 40 percent market share; milk accounts for 34 percent; the yoghurt sector at 12 percent of the total is particularly dynamic. Spreadable fats accounted for eight percent of market share, cream was at five percent, and chilled desserts, one percent. 2006-2011 CAGR was 5.3 percent.

·         By distribution channel, grocery retail sales were valued at US$930 billion in 2011, and foodservice sales estimated at US$445 billion.

·         In 2010, supermarkets had a 36 percent share of the grocery trade, followed by hypermarkets at 29 percent. Grocery retail sales grew by 2.2 percent CAGR from 2006-2011.

·         In 2010 about 37 percent of the foodservice market was fast food establishments, 33 percent were full-service restaurants. CAGR was stagnant at 0.6 percent during 2006-2011. There has been improvement following the recession late in the decade, which hit the foodservice market particularly hard.

Growth drivers

·         Consumer interest in organic food remains strong, the market doubling between 2005 and 2010. Americans are increasingly interested in health and wellness aspects of food, pressuring foodservice operators to offer healthy alternatives such as low-fat menus. Sustainable packaging, transport and production methods are increasingly valued.

·         While slower to embrace private labels than Europeans, the global economic slowdown has encouraged such sales, which have grown faster than the overall food and beverage market. Standard private labels generally sell for 20 to 40 percent less than their branded equivalents.

·         While eating out is on the rise again, consumers are opting for less expensive restaurants. Full-service restaurants continue to struggle, while fast food restaurants increasingly co-locate in major shopping outlets.

During the recession, wine consumers traded down to economy brands and discounted retail channels; though total volume consumption grew. Traction has come from younger consumers.

Market Potential

·         Total food consumption is forecast to increase by a CAGR of 3 percent during the five years to 2016, due to the growing U.S. population. Food consumption in the U.S. is expected to reach $968 billion by 2016.

·         Canned food value sales are forecast to grow by a CAGR of 3.6 percent to 2016, driven by increasing consumer demands for convenience.

·         There is high demand for frozen food products, particularly from supermarkets and restaurant chains. The frozen food market is forecast to grow at an average annual rate of 1.5 percent, reaching $96.4 billion in 2016.

·         The organic food market is forecast to grow by a 9.7 percent CAGR between 2011 and 2016. The market is forecast to reach $46.5 billion by 2016, which is an increase of > 50 percent since 2010.

·         The growth of the dairy market is forecast to slow, with a CAGR of 3.6 percent between 2011 and 2016, reaching $89.3 billion in 2013. The dynamic yogurt sector in the United States is expected to continue to grow, due to the on-going trend towards healthier options.

·         The grocery retail market is expected to grow by a CAGR of 3.5 percent to 2016.

·         The foodservice sales are expected to grow by a 3.2 percent CAGR to 2015, reaching $562.5 billion. The highest growth is forecast in foodservice establishments in travel locations (i.e. motorway service / rail stations).