Food and Services Industry - Market Research Report

  Beverage Cans Industry Overview The global  beverage cans market  size is expected to reach USD 53.22 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% over the forecast period. The market is expected to witness growth owing to the rising demand for sustainable products coupled with demand for a convenient packaging solution for beverages. Metal recycling has garnered support from government agencies, such as the European Commission and the U.S. government who mandated the exchange of used cans. In addition, the market is expected to benefit from the availability of raw material through municipal recycling programs initiated in countries, such as the U.S., Italy, and Brazil. Aluminum material lies on the higher side of the price scale as compared to steel. However, it held a considerable volume share of the market in 2020 owing to its ductility that prevents cans from shattering/cracking during their transit along with its corrosi

  U.S. Wine Cooler Industry Overview The  U.S. wine cooler market  size is estimated to reach USD 536.2 million in 2028, registering a CAGR of 6.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growth in the adoption of wine coolers can be attributed to the increasing consumption of wine in American households. Consumers can be seen storing wine at home, making wine coolers a basic necessity. The growing number of millennials, classified as being born between 1982 and 2004, are reaching the legal drinking age. The rising number of food joints including hotels & restaurants, nightclubs, bars, and cafes serving wine and other beverages have further increased the product demand in the U.S. The specialty stores/homecare shops distribution channel segment accounted for the largest share of 38.1% in 2020 and is expected to grow at a significant CAGR during the forecast period. The growth of the segment is majorly driven by the quality of products and th

  Organic Chocolate Spreads Industry Overview The global  organic chocolate spreads market  size is expected to reach USD 834.0 million by 2028, registering a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing consumption of chocolate-based spreads as a part of the breakfast meal coupled with consumer inclination towards organic and natural food products is expected to be a key factor driving the market over the forecast period.   The hazelnut segment accounted for the largest share of the market in 2020 and will expand further at a steady CAGR from 2021 to 2028 due to rising product innovation in this segment. For instance, in October 2019, Rigoni di Asiago launched the Nocciolata Bianca Hazelnut Spread, which is gluten-free and is high in protein. Companies all over the globe, especially start-ups, have been focusing on making products available to consumers through online distribution channels. Moreover, the increasing influen

  Vegan Chocolate Confectionery Industry Overview The global  vegan chocolate confectionery market  size is expected to reach USD 1.41 billion by 2028, registering a CAGR of 14.8% over the forecast period, according to a new report by Grand View Research, Inc. Growing awareness about animal cruelty and the rise in environmental protection campaigns are expected to be the major factors contributing to the growth of the market. Vegan chocolate confectionery is popular among consumers following a flexitarian or vegan diet or consumers having lactose intolerance and other food allergies. The molded bars product segment led the market and accounted for the highest revenue share in 2020. Bar chocolates are the most consumed chocolate form in the world. According to a study conducted by Google, the top five chocolates titled as favorite  chocolates  in the world, based on their annual searches, are sold in the form of bars.   The milk chocolate segment accounted for the largest share in t

  U.S. Fruit Puree Industry Overview The  U.S. fruit puree market  size is expected to reach USD 1.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2021 to 2028. The strong demand for packaged convenience foods among consumers in the U.S. has been driving the market over the next few years. The high penetration of food and beverage companies has widened the scope for the product in the U.S.   The tropical and exotic segment led the market in 2020 with the largest revenue share. The use of banana, coconut, mango, guava, papaya and pineapple in various food and beverages has fueled the demand for these products across the world. Additionally, brewers, bakers, and confectioners have been using these products significantly for flavoring beer, bakery, and confectionery products. The beverages application segment dominated the market with the largest revenue share in 2020. Orange juice and apple juice are th

  Organic Chocolate Confectionery Industry Overview The global  organic chocolate confectionery market  size is expected to reach USD 1,397.6 million by 2028, registering a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing preference for organic food products is a major factor contributing to the growth of the market. Rapid consumerism and rising disposable income levels are bolstering the market growth. Furthermore, several market players have introduced strategies for branding their chocolate confectionery in novel ways, such as organic versions.   This has also resulted in the growing consumption of these items, especially dark chocolate. The supermarkets & hypermarkets segment accounted for the largest revenue share in 2020. A large number of consumers prefer buying organic chocolate confectioneries from hypermarkets & supermarkets due to the shopping experience offered by these stores. Physical verification of these

  North America Cheese Powder Industry Overview The  North America cheese powder market  size is expected to reach USD 2.1 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% over the forecast period. The market is majorly driven by the increasing demand for convenience foods owing to a time-constrained lifestyle. The increasing awareness about the harmful effects associated with synthetic food ingredients is further driving the growth of natural ingredients, such as cheese powders, in the region. Consumers around the world are demanding convenient solutions that can help with their busy lifestyles and simplify nutritional requirements. Ready-To-Eat (RTE) meals are becoming an essential part of human life. These meals are preferred due to their nutritional values, ease of preparation, and availability of a wide selection. These meals have played a significant role in the growth of the food & beverage industry and are highly popular

  Cocktail Syrups Industry Overview The global  cocktail syrups market  size is expected to reach USD 5.99 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. The growing preference for cocktails among millennials is expected to be a key factor contributing to the growth of the market. Cocktail syrups eliminate the need to shop for a wide variety of ingredients and save the effort to mix them. Overall, cocktail syrups have made cocktail preparation a less time- and energy-intensive task, which encourages amateurs to try these drinks at home. Cocktail syrups offer consumers the comfort of drinking their favorite beverages at home. Over the past few years, premium cocktail syrups made with natural ingredients are gaining traction among consumers. Cocktail consumers are shifting from brands with poor ingredient quality and high sugar content to premium brands. Though traditional  syrups  continue to domin

  U.S. Processed Pumpkin Industry Overview The  U.S. processed pumpkin market  size is expected to reach USD 2.22 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The increasing application of processed pumpkin in the form of powder, puree, and chunks in several food processing sectors, including bakery, beverages, smoothies, confectionary,  baby foods , dairy, and frozen products, is driving the market demand.   Rising awareness about the nutritive value of pumpkin and a gradual shift towards healthier diets among the consumers to maintain their body weight, meet their nutritional requirements and prevent chronic diseases are expected to propel the market growth. According to a report published by the International Food Information Council (IFIC) Foundation and the American Heart Association, 95% of consumers in the U.S. sometimes or always seek healthy food choices. Dried pumpkin emerged as the l

  North America Processed Meat Industry Overview The  North America processed meat market  size is expected to reach USD 34.80 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.5% from 2021 to 2028. The market is expected to witness considerable growth in the years to come owing to a surge in the demand for easy-to-make food items. Furthermore, increasing purchasing power, coupled with a surge in the number of working-class professionals, will drive the market over the forecast period.   The beef meat type segment accounted for the largest revenue share in the North American market in 2020. The rising demand for grass-fed beef products that have higher nutritional value is driving this segment. Poultry-based products are expected to exhibit the highest growth rate over the forecast period owing to their low cost and the shift in consumers’ preference for white meat instead of red meat. The chilled product segment dominat

  Sparkling Water Industry Overview The global  sparkling water market  size is expected to reach USD 76.95 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.6% from 2021 to 2028. Over the past few years, the demand for  packaged water  has significantly grown across the globe owing to the rising demand for healthy drinking water and the declining availability of fresh, clean, and hygienic water.   Some of the biggest bottled water companies such as Nestlé S.A., The Coca-Cola Company, PepsiCo Inc., and Dr Pepper Snapple Group are promoting healthy water drinking through a number of product launches, including sparkling water. For instance, in March 2020, the Coca-Cola Company launched a new line of the sparkling water under the brand name ‘AHA’ in the U.S. market, which features various flavor infusions to cater to the changing consumer demand. Sparkling water is often sourced from mineral springs and its effervescence

  Packaged Salad Industry Overview The global  packaged salad market  size is expected to reach USD 20.30 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2021 to 2028. The growing trend of a healthy lifestyle is one of the key factors that will drive the market over the forecast period. Furthermore, the busy schedules of the millennials leave less time for cooking and various other kitchen chores, and thus people have been demanding ready-to-eat salads.   In recent years, it has been noted that consumers have been opting for vegetables and similar raw ingredients instead of  fast foods  and processed foods. The increasing focus on weight management owing to rising obesity levels is propelling the demand for packaged salads among consumers around the world. The low caloric content of packaged salads makes them ideal for weight management.   The vegetarian product segment dominated the market with a 67.4% share

  Botanical Supplements Industry Overview The global  botanical supplements market  size is expected to reach USD 55.18 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 9.1% from 2020 to 2028. Growing awareness among consumers concerning the health benefits related to the consumption of botanical supplements is predicted to boost the growth of the market.   The market is expected to witness significant growth over the forecast period owing to changing lifestyles, rapid urbanization, rising health consciousness, and increasing per capita income. In addition, lifestyle diseases such as malnourishment, overweight, and blood pressure, coupled with the high cost of medical treatments, are expected to create health awareness among consumers, which, in turn, is anticipated to fuel the product demand. Supplements are primarily consumed to ensure the intake of nutritional constituents that are important for the human body. Increasi