Food and Services Industry - Market Research Report

The global   CBD gummies market   was valued at USD 4.75 billion in 2024 and is expected to expand significantly, reaching USD 23.80 billion by 2030, registering a robust CAGR of 30.8% from 2025 to 2030. This rapid growth reflects the increasing adoption of CBD gummies as a convenient and consumer-friendly method of consuming cannabidiol (CBD), a non-psychoactive compound derived from the cannabis plant. CBD gummies have gained widespread acceptance due to their ease of use, precise dosing, and appeal to wellness-focused consumers seeking alternatives to traditional CBD oils or tinctures. Improved regulatory clarity and growing awareness of CBD’s perceived health benefits have further strengthened market penetration across multiple regions. Key Market Trends & Insights North America accounted for the largest global revenue share of 46.8% in 2024 The U.S. dominated the North American market in 2024 By concentration, the low concentration segment held an 88.8% revenue share ...

The global   canned seafood market   was valued at USD 35.77 billion in 2024 and is forecast to reach USD 44.27 billion by 2030, expanding at a CAGR of 3.5% from 2025 to 2030. Market growth is primarily supported by the rising preference for convenience foods, reflecting evolving consumer lifestyles and broader shifts in food consumption patterns. As modern lifestyles become increasingly fast-paced, consumers are showing a strong inclination toward ready-to-eat and easy-to-prepare food options. This trend is particularly evident among working professionals and younger demographics who face time constraints due to busy schedules. Canned seafood products, with their long shelf life and minimal preparation requirements, are well positioned to meet these needs. Market Size & CAGR 2024 Market Size: USD 35.77 Billion 2030 Projected Market Size: USD 44.27 Billion CAGR (2025–2030): 3.5% Largest Regional Market (2024): Asia Pacific Key Market Trends & Insights Asia Pacific acco...

The global   cake market   was valued at USD 65.68 billion in 2023 and is expected to reach USD 80.42 billion by 2030, registering a compound annual growth rate (CAGR) of 3.0% from 2024 to 2030. The continued cultural significance of cake cutting during celebrations such as birthdays, anniversaries, festivals, and personal milestones remains a major contributor to sustained market growth worldwide. The market is further supported by evolving consumer lifestyles, increasing urbanization, and the growing influence of social celebrations, which continue to reinforce cakes as a preferred indulgent dessert across age groups. Key Market Trends & Insights Asia Pacific dominated the global market with a 37.2% share, accounting for USD 24.46 billion in revenue in 2023. By product type, dessert cakes led the market, holding a 50.3% share, equivalent to USD 33.06 billion in 2023. Based on distribution channels, the retail segment captured the largest share of 83.8%, generating USD 55...

The global   bubble tea market   was valued at USD 2.75 billion in 2022 and is projected to reach USD 5.42 billion by 2030, expanding at a CAGR of 8.9% from 2023 to 2030. Market growth is primarily driven by the increasing consumption of tea and coffee as nootropic beverages among working professionals and students, owing to their perceived benefits in improving alertness, concentration, and cognitive performance. Key Market Trends and Insights North America dominated the global bubble tea market in 2022, accounting for over 36.00% of total revenue. The U.S. has witnessed a notable increase in the number of bubble tea outlets nationwide in recent years. By type, the black tea segment led the market in 2022, capturing more than 42.85% of overall revenue. By flavor, the fruit flavor segment held the largest share of over 37.85% in 2022. Asia Pacific is expected to register the fastest growth rate during the forecast period due to rising urbanization and evolving beverage prefere...

The global   alfalfa market   was valued at USD 22.69 billion in 2023 and is projected to reach USD 36.3 billion by 2030, expanding at a CAGR of 6.0% from 2024 to 2030. Market growth is primarily driven by the increasing demand for high-quality forage in livestock farming. Alfalfa is widely recognized as a nutrient-dense feed source and is extensively used for feeding dairy cows, horses, and cattle due to its superior nutritional profile. The rising focus on improving livestock productivity, particularly in dairy farming, has significantly contributed to the adoption of alfalfa-based feed. Its high protein content, essential minerals, and digestibility make it a preferred forage choice across developed and emerging agricultural economies. Key Market Trends & Insights North America accounted for the largest revenue share of 42.5% in 2023, supported by advanced farming practices and strong demand from the dairy industry. Asia Pacific is expected to register a significant CAG...

The global   vegan food market   was valued at USD 16.55 billion in 2022 and is projected to reach USD 37.5 billion by 2030, expanding at a CAGR of 10.7% from 2023 to 2030. Market growth is primarily driven by rising consumer awareness regarding the health, environmental, and ethical benefits of adopting a vegan diet. Growing concerns related to animal welfare, sustainability, and lifestyle-related health conditions have encouraged a significant shift from animal-based products toward plant-based alternatives. This evolving consumer preference continues to stimulate demand for vegan food products across both developed and emerging economies. Key Market Trends & Insights North America accounted for the largest revenue share of over 37.2% in 2022. Asia Pacific is expected to emerge as the fastest-growing regional market and register a CAGR of 11.6% over the forecast period. Based on product, the meat & seafood segment contributed the largest market share of over 36.2% in...