Food and Services Industry - Market Research Report

  The   U.S. tobacco market   was valued at USD 75.9 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 3.4% from 2022 to 2030. Shifts in consumer preferences have prompted manufacturers to introduce new offerings, such as cigars, cigarillos, and next-generation tobacco products, in an effort to boost profit margins. In the U.S., cigarette smoking remains more prevalent among individuals living below the poverty line and those with lower levels of education compared to the general population. The COVID-19 pandemic prompted the industry to explore more efficient ways to manage supply chains. It introduced several challenges, including shipment delays and restricted operations at ports and other distribution points. Movement limitations also disrupted supply chain operations and customer access. Nevertheless, the crisis spurred innovation, leading to greater flexibility and enhancements in future crop cycle management. An increase in tobacco...

  The global   beverage cans market  was valued at   USD 41.14 billion in 2023   and is projected to grow at a   compound annual growth rate (CAGR) of 5.5% from 2024 to 2030. The increasing global consumption of beverages such as carbonated soft drinks, beer, and cider continues to drive demand for beverage cans. Furthermore, the high recyclability of aluminum cans and the superior physical properties of metal compared to alternative materials are expected to support market growth over the forecast period. Beverage cans provide excellent convenience and portability, making them a preferred choice for on-the-go consumption. They are lightweight, easy to carry, and resealable, allowing consumers to enjoy beverages at their convenience. This feature is particularly attractive to urban consumers with fast-paced lifestyles and a growing demand for convenient packaging solutions. For example, energy drink manufacturers have capitalized on the portability of cans ...

  The global   pea protein market   was valued at USD 2.12 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2030. The shift toward plant-based diets, driven by growing awareness of the environmental impact of animal agriculture and health concerns related to meat consumption, is encouraging consumers to seek alternatives. Pea protein, known for its high-quality nutritional profile, is becoming a preferred choice among vegans, vegetarians, and health-focused individuals. Its allergen-free nature—being free from soy and gluten—also makes it an appealing option for those with dietary restrictions. The global trend toward vegetarianism and veganism is significantly influencing consumer behavior and driving demand for plant-based products. Pea protein is a highly adaptable ingredient used in a wide range of applications, including meat and dairy substitutes and functional foods. The increasing number of vegan-focused restau...

  The global   flavored powder drinks market  was valued at   USD 72.46 billion in 2021   and is projected to grow at a   compound annual growth rate (CAGR) of 3.0% from 2022 to 2030. The increasing demand among youth and working-age individuals, driven by fast-paced lifestyles, is fueling product consumption. The growing popularity of ready-to-mix beverages and ready-to-eat foods is further boosting global sales. Busy consumers can conveniently mix their preferred powder flavors on the go, especially during breakfast, to enjoy a healthy snack. Additionally, powdered beverages do not require specific temperature control to maintain quality or shelf life, making them ideal for travel, camping, and similar activities—factors contributing to the rising demand in the industry. Flavored powder drinks are beverages in powdered form, serving as a method of preservation. They are produced by drying fruit pulp and adding preservatives to extend shelf life. These pow...

  The global   jerky snacks market   was valued at   USD 5.31 billion in 2024   and is projected to expand at a   CAGR of 6.7% from 2025 to 2030. A key driver of this growth is the rising consumer demand for   protein-rich, low-fat snack options. As awareness of health and fitness increases, more people are seeking convenient yet nutritious snacks—making jerky an ideal choice. Furthermore, the expansion of retail channels, including supermarkets, hypermarkets, and online platforms, has enhanced the accessibility of jerky snacks to a broader consumer base. Jerky snacks are becoming increasingly popular due to their high protein content. In both North America and Europe, consumers are shifting away from carbohydrate-heavy snacks in favor of more nutritious alternatives. In recent years, there has been a notable shift toward health-conscious snacking, with consumers demanding greater transparency regarding ingredients on product packaging. ...

  The global   plant-based meat market   size is expected to reach USD 24.77 billion by 2030, registering a CAGR of 19.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing adoption of vegan lifestyle and diet among health-conscious consumers in traditionally meat-eating developed economies are expected to drive the market growth over the forecast period. The growing concern of consumers regarding animal welfare and greenhouse gas emission created by the distinguished practices of the meat industry, together with celebrity endorsements of vegan/vegetarian diets are projected to augment the demand for plant-based meat products in the global market. The plant based meat is predominantly consumed in the Hotel/Restaurant/Café (HORECA) sector. Key companies in the industry are collaborating with fast-food joints and restaurant chains to promote the adoption of their products. For instance, fast-food joints such as Burger King, MacDonald’s, and Su...

  The global   automated guided vehicle market   size is expected to reach USD 9.18 billion by 2030, registering a CAGR of 9.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Automated guided vehicles (AGVs) have transformed the way materials can be moved within the manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles ensure a predictable and reliable transfer of raw materials and manufactured products from one point to another within the facility, thereby eliminating any potential disruption in production. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, which help detect junctions, identify floor signs, and avoid collisions with any obstacle. For instance, in November 2021, Quanergy Systems, Inc., a U.S.-based company that offers an AI-powered LiD...

  The global   alcoholic drinks market   size is expected to reach USD 3,015.22 billion by 2030, and anticipated to grow at a CAGR of 9.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. This can be attributed to the growing demand for premium beer, wine, and dark spirits across the globe. Moreover, the growing trend to consume artisanal spirits is further anticipated to boost market growth during the forecast period. The increasing procurement of Scottish whiskey in Europe is a major factor in propelling market growth. Moreover, the growing demand for value-added cordials and liquors across the world is anticipated to boost business growth. Rising demand to procure cost-effective alcoholic cocktail products is expected to be an upcoming opportunity for the market. Hard seltzer segment is projected to register the fastest growth during the assessment period due to the rising demand for watermelon and cucumber craft hard seltzer in the U.S. and Ca...

  The global   healthy snacks market   size is expected to reach USD 144.64 billion by 2030, registering a CAGR of 6.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing awareness of health and wellness and an increasing focus on preventing lifestyle-related diseases have led to a surge in consumer interest in healthier snack choices. This has created a demand for convenient, nutritious snacks that can be enjoyed on the go. The market has responded with innovative and diverse product offerings that cater to these evolving preferences. Furthermore, social media has played a significant role in popularizing healthy eating trends and influencing consumer choices. In addition, workplaces are incorporating wellness programs that encourage healthier snacking habits, contributing to the growth of the market for healthy snacks. The growth of this market is strongly driven by continuous innovation and expanding product diversity. Manufacturers attem...

  The global market for   functional drinks   was valued at USD 204.8 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. The growing awareness of the health benefits associated with functional drinks, which are enriched with health-boosting ingredients like amino acids, vitamins, and minerals, is expected to drive market growth in the coming years. Additionally, increased marketing efforts and innovative product introductions by key players are likely to further accelerate market expansion during the forecast period. The COVID-19 pandemic positively impacted demand for functional drinks due to the rising interest in products that boost immunity and offer other health benefits. A whitepaper from Kerry Group revealed that over 65.0% of consumers became more health-conscious after the pandemic. Moreover, the availability of functional drinks through e-commerce platforms, retail outlets, and grocery stores helped boost ...

  The global   recombinant proteins market   was valued at USD 3.02 billion in 2024 and is expected to grow at a CAGR of 10.2% from 2025 to 2030. The increasing prevalence of chronic conditions such as cancer, diabetes, and autoimmune diseases is anticipated to propel market growth. Additionally, the growing adoption of biopharmaceuticals, including monoclonal antibodies, vaccines, and therapeutic enzymes, is further contributing to the expansion of the recombinant proteins market. The numerous advantages of recombinant proteins are boosting their preference over natural proteins in research activities. These proteins can be produced with high yields, free of animal-derived contaminants, and with consistent batch-to-batch quality. Furthermore, their amino acid sequences can be easily modified, and unnatural amino acids can be incorporated as needed. Common recombinant proteins used in research include growth factor families such as fibroblast growth factors, vascular endo...

  The global   coffee roaster market   was valued at USD 1,286.2 million in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030. A major factor fueling this growth is the increasing global consumer preference for coffee consumption. Notably, consumers in the Asia Pacific region significantly contribute to the rising demand. Additionally, the growing preference for freshly roasted coffee is expected to further propel market expansion. According to the International Coffee Council, there has been a noticeable shift among consumers in East and South Asia towards favoring fresh coffee. The COVID-19 pandemic adversely affected many sectors, including the food and beverage industry. During this period, the coffee roaster industry experienced a decline, mainly due to reduced coffee consumption among consumers. Measures like the closure of cafes and restaurants and social distancing mandates during lockdowns led to decreased coffee co...