Food Industry 2023

Top insights for Food Markets

The UN Food and Agriculture Organization (FAO) expects global food demand to rise by 60%-100% by 2050.

A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.

FAO also estimates that by 2050, to satisfy the demands of this growing and wealthier population with an increased meat demand, food production will have to increase by at least 50 percent : from 8.4 billion tonnes today to 13.5 billion tonnes to provide for a projected population of 9.7 billion in 2050

Nevertheless, the use of protein meal will grow more slowly globally due to a decline in the growth of livestock production and the plateauing of the share of protein in Chinese food consumption.

While China's production is projected to increase by some 31 percent by 2050, food consumption also rises by more than 30 percent during the same period, causing the country to face a small excess demand and to become a net importer to satisfy its aggregate demand needs.

Global sales of organic food and drink increased by 17 percent to $ 110.25 billion in 2016. The growth in global organic food and beverages market is driven by increasing awareness about health benefits of organic foods which has led to increased organic farming in the world.

Beyond 2030, aquaculture will likely dominate global fish supply, with global aquaculture production of food fish (excluding aquatic plants) expected to reach 93.6 million tonnes by 2030.

Overview per country:

• Africa: In 2017, Africa spent $64.5 billion on food imports and may spend even more in subsequent years, potentially reaching $110 billion by 2025. By 2030, food demand is projected to increase by 55%, bringing the size of Africa's food and agribusiness to $1 trillion and opening up huge employment opportunities all along the value chain.
• United Arab Emirates: Currently, the value of the UAE halal food industry is US$18.8 billion whereas overall food consumption in the UAE is growing due to the influx of tourists and population growth. The UAE halal sector has a great potential worldwide, as the value of the global halal food industry is estimated to have reached USD 1.1 Trillion in 2013 according to recent literature, accounting for more than 16% of the global food market.
• Brazil: By 2027, food production in the country is expected to increase by 69% (the highest growth among countries with significant production).

Top view datapoints for Food Markets:

• Food Gross Production in the World - 1991 to 2019
• Forecast [COVID-19 updated]: Food Gross Production in the World - 2019 to 2023
• Food Exports from the World - 1962 to 2019
• Forecast: Food Exports from the World - 2019 to 2023
• Food Imports in the World - 1962 to 2019
• Forecast: Food Imports in the World - 2019 to 2023
• Household Expenditure on Food in the EU28 - 1995 to 2019
• Forecast [COVID-19 updated]: Household Expenditure on Food in the EU28 - 2019 to 2023