Food and Services Industry - Market Research Report

  North America Cheese Powder Industry Overview The North America cheese powder market size was valued at USD 1,418.50 million in 2020 and is expected to witness a compound annual growth (CAGR) of 4.9% from 2021 to 2028. Increasing demand for natural flavors and ingredients from the food and beverages sector is expected to be a key driver for market growth. Changing consumer lifestyles and the high urbanization rate in North American countries are contributing to the growth of the Ready-To-Eat (RTE), and snacks segments, which, in turn, is driving the demand for exotic foods and flavors. However, increasing concerns regarding the safety of products and stringent regulations related to sanitation, labeling, storage, and processing of products could be a challenge for the industry participants. The U.S. was the worst-hit country by the Covid-19 pandemic in 2020. Preventive measures to contain the spread of the infection resulted in countrywide lockdowns throughout 2020, which majorly a

  North America Processed Meat Industry Overview The North America processed meat market size was valued at USD 26.40 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.5% from 2021 to 2028. The market is expected to witness decent growth in the years to come because of a surge in the demand for convenient and easy-to-eat food, leading to the growth of the meat manufacturing sector. The rising disposable income of consumers, coupled with an increase in the number of working professionals, will propel the market growth over the forecast period. The COVID-19 pandemic has caused disruptions in the market. The limited availability of some products in retail stores resulted in a price rise. COVID-19 outbreaks have taken place in numerous meat production facilities operating in the U.S. and Canada. These outbreaks affected a large number of plants, which led to the disruption of the supply chain, closure of some factories, and posed a substantial threat t

  Wine Industry Overview The global wine market size was valued at USD 417.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of wine among all age groups from the young generation to the old age population across the globe is the key factor for market growth. The COVID-19 pandemic has disrupted the global wine distribution channel due to the extensive closure of and restrictions on hotels and restaurants across the world. The sudden outbreak of pandemic has affected around 77% of hotels, with turnover falling by 60% across the sector, while restaurants saw sales down by 91% by the end of 2020 across the globe. Meanwhile, there has been a sudden change in the purchasing behavior of consumers. With restaurants, hotels, and bars shut or running on limited capacity, consumers have turned to food retailers as well as online portals to shop for the product. Direct-to-consumer sales have also benefited from thi