Another industry that has seen tremendous growth with a sharp rise in global consumers is the food and beverage industry. There is also a sharp increase in food prices as people become curious and experiment food and beverage varieties leading to higher demand for them globally. The need for healthy and organic food is a recent development in the food industry and has seen some interest growing amongst the consumers. Increasing health awareness and shift to veganism are also driving factors that promote production certain varieties of food and beverages to a larger extent in the global market.
The opportunities for the expansion of the food and beverage industry would be increasing with the shift to organic food and unprocessed, low-fat items that are welcomed by the population today. The industry faces a challenge with lower profit margins associated with the food and beverage sales with rising in the raw material prices. Food safety will be a concern that the industry will need to address to comply with all safety standards that are imposed on the production and sales of food & beverages items. These restraints affect the growth of the sector majorly.
Emerging countries in this space are Asia Pacific and Latin America. Countries like China are contributing a lot in this food and beverage sector and nations like India are making the shift to organic food due to increased demands.