Food and Services Industry - Market Research Report

The global   whey protein market   was valued at USD 8,846.2 million in 2024 and is expected to reach USD 17,527.3 million by 2033, expanding at a CAGR of 7.7% from 2025 to 2033. Market growth is being propelled by rising health consciousness, accelerating fitness and sports nutrition trends, and increasing adoption of protein-rich diets across diverse age groups. Whey protein has evolved from a niche sports supplement into a mainstream nutritional ingredient supporting muscle health, weight management, and overall wellness. Urban millennials and working professionals are driving demand, viewing whey protein as a convenient and efficient nutrition solution amid busy lifestyles. The market is further supported by growing interest in functional foods, dietary supplements, and fortified packaged foods, along with heightened awareness of lifestyle-related health concerns. Major Market Highlights North America accounted for the largest revenue share of 36.2% in 2024, driven by high...

The global   alcoholic drinks market   was valued at USD 1,773.7 billion in 2024 and is expected to expand significantly, reaching USD 3,617.9 billion by 2033. This growth reflects a robust CAGR of 8.4% from 2025 to 2033. Market expansion is being driven primarily by changing consumer preferences, with an increasing shift toward premium, craft, and differentiated alcoholic beverages across major regions. Consumers are actively trading up from mass-produced products to higher-quality offerings, including craft beers, premium spirits, and artisanal wines. This premiumization trend continues to reshape purchasing behavior and brand strategies throughout the global alcoholic beverages industry. Key Market Trends & Insights Regional Insights: Asia Pacific dominated the global alcoholic drinks market, accounting for 35.1% of total revenue in 2024, supported by large populations, rising urbanization, and evolving drinking cultures. Product Insights: Beer remained the leading prod...

The global   alcoholic beverage packaging market   was valued at USD 84.62 billion in 2024 and is expected to reach USD 118.42 billion by 2030, expanding at a CAGR of 5.8% from 2025 to 2030. Market growth is supported by rising alcohol consumption, continuous packaging innovation, increasing sustainability initiatives, expanding e-commerce penetration, evolving regulatory frameworks, and technological advancements. These factors are collectively driving demand for premium packaging solutions while addressing diverse consumer preferences across demographics. Key Market Trends & Insights Asia Pacific dominated the global market, accounting for 33.1% of revenue in 2024, driven by rising urbanization, expanding middle-class population, and strong consumption trends. North America is projected to record the fastest CAGR of 7.4% over the forecast period, supported by premium alcohol consumption and advanced packaging technologies. By material, plastic packaging led the market wi...

The global   palm oil market   was valued at USD 74.5 billion in 2024 and is anticipated to reach USD 113.9 billion by 2035, expanding at a CAGR of 4.2% from 2025 to 2035. Market growth is primarily fueled by increasing consumption across the food and beverage sector, driven by palm oil’s cost efficiency, versatility, and functional properties. Palm oil remains one of the most widely used edible oils globally due to its long shelf life and stability at high temperatures. Its extensive application in bakery products, confectionery, processed foods, instant noodles, and household cooking oils continues to underpin steady demand. Additionally, rapid population growth and rising consumption of packaged and convenience foods are further strengthening market expansion. Key Market Trends & Insights Asia-Pacific dominated the global palm oil market, accounting for the largest revenue share of 74.5% in 2024 Indonesia led the Asia-Pacific region, capturing 42.1% of regional revenue ...

The global   field programmable gate array (FPGA) market   size was valued at USD 10.5 billion in 2022 and is projected to reach USD 23.34 billion by 2030, registering a CAGR of 10.8% from 2023 to 2030. The rising adoption of FPGAs for deep packet inspection, network processing, and security applications is expected to significantly accelerate market growth throughout the forecast period. Key Market Trends & Insights The Asia Pacific region emerged as the dominant market, accounting for over 46% of the revenue share in 2022, with China representing the largest share within the region. By type, the low-end FPGA segment held the largest share at over 44% in 2022. In terms of technology, the static random-access memory (SRAM) segment also captured over 44% of the market. Based on application, the low-end FPGA category again dominated with over 44% of the overall share in 2022. Market Size & Forecast 2022 Market Size: USD 10.5 Billion 2030 Projected Market Size: USD 23.34 ...

The global   food additives market   size was estimated at USD 120.5 billion in 2024 and is projected to reach USD 169.22 billion by 2030, expanding at a CAGR of 5.9% from 2025 to 2030. This upward trajectory is fueled by the growing demand across major end-use sectors such as bakery and confectionery, beverages, dairy, and convenience foods, along with the increasing penetration of organized retail and e-commerce worldwide. Key Market Trends & Insights North America food additives market is expected to grow at a CAGR of 6.0% over the forecast period. The food additives market in the U.S. led the North American market and accounted for the largest revenue share in 2024. By product, sweeteners segment led the market with the largest revenue share of 52.7% in 2024. By source, natural sources segment led the market with the largest revenue share of 82.7% in 2024. By application, the bakery & confectionery segment led the market with the largest revenue share of around 29....

The global   vitamin & mineral premixes market   size was estimated at USD 6.72 billion in 2024 and is projected to reach USD 9.73 billion by 2030, expanding at a CAGR of 6.4% from 2025 to 2030. Market growth is primarily fueled by rising health consciousness, increasing demand for fortified foods and beverages, and a growing focus on preventive healthcare across global populations. Key Market Trends & Insights The Asia Pacific region accounted for 41.48% of the global market in 2024, dominating overall demand. India is forecasted to exhibit the highest CAGR from 2025 to 2030, driven by increasing dietary supplement adoption and expanding food processing industries. By application, the animal feed segment led the market with a 42.88% revenue share in 2024, reflecting rising investments in livestock nutrition. By form, the powder/dry segment captured a 75.16% share in 2024, owing to its stability, shelf-life advantages, and easy blending properties. By product, vitamin ...

The global   frozen food market   was valued at USD 503.75 billion in 2024, and it is projected to expand to USD 712.76 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.0% between 2025 and 2030. This growth is largely driven by an increasing global preference for shelf-stable and convenient food products that require minimal preparation. Key Market Trends & Insights North American frozen food dominated the global market with the largest revenue share of 37.6% in 2024. The frozen food market in the U.S. led the North American market and held the largest revenue share in 2024. Based on product, frozen desserts led the market and accounted for the largest revenue share of 23.1% in 2024. In terms of freezing technology, blast freezing segment led the market and held the largest revenue share of 53.2% in 2024. Based on distribution channel, the Foodservice held the dominant position in the market, with the largest revenue share of 70.1% in 2024. Market Size...

The global   milk protein market   size was estimated at USD 13.67 billion in 2024 and is expected to reach USD 19.66 billion by 2030, registering a CAGR of 6.3% from 2025 to 2030. This growth is primarily driven by increasing consumer awareness toward health and wellness, which is fueling the demand for protein-rich food and beverage products. Key Market Trends & Insights North America accounted for 37.4% of global revenue in 2024, making it the leading regional market. The U.S. market is projected to expand at a CAGR of 5.8% from 2025 to 2030. Based on product, the concentrates segment held 64.4% of the global revenue in 2024. Based on form, the powder segment dominated with 64.4% revenue share in 2024. By application, the food & beverages segment accounted for approximately 78.9% of the global revenue in 2024. Market Size & Forecast 2024 Market Size: USD 13.67 Billion 2030 Market Size Projection: USD 19.66 Billion CAGR (2025–2030): 6.3% North America: Largest re...

The global   premium spirits market   size was valued at USD 233.96 billion in 2024 and is projected to reach USD 546.67 billion by 2033, expanding at a CAGR of 10.1% from 2025 to 2033. Rising demand for high-end alcoholic beverages, particularly among the millennial demographic, continues to be a major factor stimulating market expansion worldwide. Key Market Trends & Insights Asia Pacific emerged as the leading regional market in 2024, accounting for 32.7% of global revenue and is also anticipated to grow at the fastest CAGR throughout the forecast period. By product, vodka remained the dominant category with a 32.5% share in 2024, driven by its versatility and preference in cocktail preparation. In terms of distribution, the on-trade segment led the market with a 56.7% share in 2024, supported by the growing culture of social drinking, premium lounges, and craft cocktail bars. Market Size & Forecast 2024 Market Size: USD 233.96 Billion 2033 Market Size (Projected): ...

The global   jojoba oil market   was estimated at USD 130.8 million in 2022 and is projected to grow to USD 236.6 million by 2030, representing a compound annual growth rate (CAGR) of approximately 7.7% over the 2023-2030 period. This growth is largely driven by the expanding use of jojoba oil in cosmetics and personal care formulations. Key Market Trends & Insights In 2022, the North American region led the market, holding a 34.0% revenue share. In the United States, jojoba oil is gaining traction thanks to incorporation of high-performance active ingredients such as omega-3 fatty acids, triterpenoids and tocopherols that support skin and hair health. Looking at extraction methods, the cold-pressed type dominated with a 63.5% revenue share in 2022, reflecting rising consumer preference for naturally sourced, minimally processed oils. From a sales-channel perspective, B2B dominated, accounting for 62.4% of revenues in 2022.  In terms of application, cosmetics & pe...

The global   carrageenan market   was estimated at USD 871.66 million in 2022 and is projected to reach USD 1.32 billion by 2030, representing a compound annual growth rate (CAGR) of 5.4% between 2023 and 2030. The increasing incorporation of carrageenan in dairy and processed meat applications—primarily due to its ability to mimic a fatty mouth-feel—is anticipated to drive market expansion throughout the forecast period. Key Market Trends & Insights In 2022, Europe held the largest revenue share at 34.4%. The Asia Pacific region is expected to exhibit the fastest growth in terms of revenue over the forecast period. From a functional perspective, the thickening-agent segment dominated with 38.7% of revenue in 2022. Looking at product types, the kappa form accounted for the largest revenue share of 68.3% in 2022. Among applications, the food & beverage segment led, capturing a 72.8% value share in 2022. The core driver of demand is carrageenan’s ability to bind water an...

The global   medical foods market   was valued at approximately USD 24.80 billion in 2024, and it is projected to grow to USD 33.49 billion by 2030, reflecting a compound annual growth rate (CAGR) of about 5.13% between 2025 and 2030. The expansion is primarily driven by the increasing prevalence of chronic diseases such as Alzheimer’s, ADHD, osteoporosis, osteoarthritis, and central nervous system disorders. Key Market Trends & Insights In 2024, the North American region held the largest share of the market, accounting for 29.90% of revenues. The U.S. was the major contributor within North America. The oral route of administration dominated the market in 2024, representing 72.86% of the revenue share. Among products, the powder form led with a 35.53% share in 2024. With respect to application segments, the cancer treatment category represented the largest share at 12.11% in 2024. Market Size & Forecast Looking ahead, the market size forecast remains USD 24.80 billion ...