[ad_1]
Technology has significantly changed and enhanced the way food and beverage companies operate and innovate their product offerings to match consumer trends throughout the years. However, certain vulnerabilities have also been amplified, especially across the supply chain, as manufacturers and distributors continue to deal with the challenges posed by the pandemic.
Market Outlook: An Overview of Food and Beverage Trends in the Global Market
According to Statista Consumer Market Outlook, the food and beverage industry had total revenue of $8,049 billion in 2020. The majority of food and beverage demand will come from people in Western countries. Consumers’ increased knowledge of the need of living a healthy and sustainable lifestyle has resulted in a surge in the popularity of organic and fair-trade products.
eCommerce has profoundly altered the structure of trading. Food and beverage is a rapidly growing market with enormous potential in global eCommerce. According to industry analysts, the online market share for food and beverage is expected to grow at an annual rate of 8% from 2019 to 2023.
The “Blue Ocean” of Food and Beverage in the Global Market
According to an Alibaba.com study done on June 30, 2021, beverages, confectionery, instant food, and seafood would have the most demand in the worldwide market. In terms of opportunity and growth, these are the sectors that are broad, deep, and powerful.
These food manufacturers and suppliers will create unique market space rather than compete for a decreasing profit pool in the local market. It is a fantastic opportunity to get involved in online exporting in the worldwide market, particularly in the European market, to maximize commercial potential. Nowadays, B2B businesses are constantly on the lookout for new channels or funnels, particularly online, to help them expand their operations into international markets.
Other sub-segments are gradually increasing and will be regarded as high-potential segments in the future, with more traffic and profitable products. Businesses that enter the market early will be the market leaders in the future.
Four Product Segments with High Potential
Beverage, Confectionery, Seafood, and Instant Food stand out as the top four high potential sub-segments among the 18 sub-segments under Food and Beverage. Let us explore their possibilities in depth using facts and statistics.
Beverage
Before we reveal the potential of beverage, let’s take a look at the data collected by Alibaba.com.
- Beverage contributed 50% of the traffic with an annual growth rate of 70+%
- 15% of suppliers are from Food & Beverage providers with 20% of goods including Whisky, Energy Drink, Beer, Brandy, Wine, etc.
- 80% of the traffic of Beverage is contributed by the United States, United Kingdom, India, etc.
There is a high demand for beverages in the global market, especially in the European market. The demand in the market for all the beverages increased up to 22%. Four main beverages had high demand in the market including Whisky, Wine, Energy Drink, and Carbonated but there are fewer suppliers in the markets.
Whisky
- The top 5 buyers countries are Brazil, the U.S., Bangladesh, Pakistan, and India
- The top 5 supplier countries are Germany, the U.K., France, Austria, and Singapore
- Total 15k more products are needed with the obvious gap between supply and demand
Wine
- The top 5 buyers countries are the U.S., Italy, India, France, and the U.K.
- The top 5 supplier countries are Italy, Spain, France, Germany, and Spain
- Total 10k more products are needed with the obvious gap between supply and demand
Energy Drink
- The top 5 buyers countries are U.S., U.K., India, Brazil, Germany
- The top 5 supplier countries are Germany, U.K., Vietnam, France, and Austria
- Total 5k more products are needed with the obvious gap between supply and demand
Carbonated Drinks
- The top 5 buyers countries are the U.K., U.S., France, Germany, and India
- The top 5 supplier countries are the U.K., France, U.S., Netherlands, and Vietnam
- Total 5k more products are needed with the obvious gap between supply and demand
Confectionery
- Confectionery contributed 13% of the traffic with an annual growth rate of 50+%
- Chocolate received 75% traffic and contributed 26% of products by 36% suppliers.
- Candy received 20% traffic and contributed 60+% products by 26% suppliers.
- Major Buyers are from Brazil, the United States, France, the Philippines, India, etc
- Major Suppliers are from Turkey, Germany, Vietnam, the United Kingdom, Russian Federation, etc.
Confectionery, particularly chocolate, accounted for 75 per cent of market demand. It was the best time for a local provider to join the global market and seize it. More than 5,000 chocolate product shortages are expected in 2021, with demand expected to rise by more than 75 per cent in the following three years.
Chocolate
- Chocolate receives 75% of the demand under sub-segment Confectionery
- About 5k chocolate products are in shortage on Alibaba.com
Seafood
- Seafood contributed 7% of the traffic with an annual growth rate of 40+%
- United States buyers contributed 25% of the traffic
- Vietnam, Pakistan, and South Africa are the top 3 countries that supply Seafood on Alibaba.com
Seafood is popular in the European market since every household consumes it on a daily basis. According to the data analysis, the market demand has surged by 40%. The primary four seafood segments are fish, crab, lobster, and shrimp, which have the largest demand in the markets but the lowest supply. The competition for providing seafood is still low, and local businesses should seize these opportunities because Malaysia has a competitive advantage in this area.
Fish
- Fish received 40% of the traffic from Seafood with 24% of the suppliers under this segment.
- The top 5 supplier countries are Vietnam, Pakistan, South Africa, Thailand, and the U.S.
- About 25k fish and fish products are in shortage on Alibaba.com
Crab / Lobster / Shrimp
- Crab, lobster, and Shrimp received 40% of the traffic from Seafood and contributed only 11% of products under the seafood segment.
- More than 1K products are needed.
Instant Food
- The demand for instant meals is increasing steadily. In 2021, the year-on-year rise reached 46%.
- From 2012 through 2025, global convenience food income is predicted to grow at a CAGR of 4.4 per cent.
- With an annual growth rate of 1.6 per cent, sales volume will reach $585 billion by 2025.
- Surprisingly, Asian nations are the largest providers of instant food. Products such as Instant Noodles, Instant Rice, Instant Soup, and other ready-to-eat foods are available.
Instant Noodles
- Instant Noodles generate above 80% demand in the market
- 44% of suppliers provided about 60% of products on Alibaba.com
- Over 3k products are in shortage in the market
Opportunities on Alibaba.com
Food and Beverage on Alibaba.com benefited from increased demand in the worldwide market and caught up with the overall growth rate in 2020. Following the COVID-19 pandemic, the year-on-year growth rate of business prospects unexpectedly quadrupled from 20% to 40%.
Active consumers of Food and Beverage on Alibaba.com are growing by up to 80% looking for Food and Beverage products. It is the ideal moment for local businesses to kickstart and create a store on Alibaba.com B2B Marketplace.
The demand and supply trends indicate that prospects for Food and Beverage will continue to grow even after the pandemic.
Alibaba.com, one of the best B2B Marketplaces in the world, has a huge audience pool and market for sellers to capitalize on business prospects, get international sales, expand their business around the globe and achieve their business goals using the power of the Internet.
[ad_2]
Article link
[products limit=”4″ category=”web-hosting” orderby=”rand”]
