Food and Services Industry - Market Research Report

  The   U.S. energy drinks market   is projected to reach USD 37.83 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a compound annual growth rate (CAGR) of 7.1% over the forecast period. Increasing consumer awareness about the health benefits of natural and organic beverages is a major factor propelling market growth. Among younger consumers, energy drinks have become a status symbol, further fueling demand. Additionally, the trend of mixing energy drinks with alcohol has gained popularity in urban areas, contributing to their widespread use. Energy drinks have become a staple at social events, including parties and celebrations. However, the availability of alternative beverages poses a significant threat to market expansion. The industry faces strong competition from carbonated drinks, malt-based health beverages, and packaged juices. Taurine, a key ingredient in energy drinks, is important for cardiovascular health and skeletal mus...

  The   U.S. pet food market   was valued at USD 43.45 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 4.3% from 2025 to 2030. This growth is driven by several interconnected factors and evolving consumer preferences. A primary factor is the increasing humanization of pets, with owners viewing pets as family members and prioritizing their health and well-being. This shift has led to rising demand for premium, organic, and customized pet food options that emphasize quality ingredients, nutritional benefits, and transparency in sourcing. Heightened awareness of pet health and wellness is another significant growth driver. Pet owners are increasingly recognizing the link between diet and long-term health outcomes for their pets, fueling interest in organic, grain-free, raw, and functional food products. There is a growing preference for foods that address specific health concerns, such as allergies, digestive health, joint support, and ski...

  The   Europe, Middle East, and Africa (EMEA) sports nutrition market   was valued at USD 3.1 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030. While sports nutrition products were once primarily targeted at athletes, they have increasingly become mainstream, appealing to a broader consumer base. This shift is driven by rising awareness of health and wellness, along with efforts by leading companies to diversify their product offerings to meet the needs of a wider audience. Additionally, the rising incidence of lifestyle-related conditions such as obesity and diabetes is contributing to the growing demand for health and nutrition products. According to  Our World in Data , approximately 13.0% of adults aged 18 and older were classified as obese in 2016. Furthermore,  The World Health Organization  reported that obesity rates among children and adolescents aged 5–19 rose from 4.0% in 1975 to about ...

  The global   pasta and noodles market   was valued at USD 83.49 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.5% from 2023 to 2030. In recent years, the rising demand for international cuisines has significantly boosted the consumption of pasta and noodles worldwide. Notably, Italian pasta consumption has increased in both the U.S. and various Asian countries, which supports the market’s positive growth outlook. Despite the challenges posed by the COVID-19 pandemic and the subsequent global economic downturn, the pasta and noodles industry recorded sales exceeding USD 78.70 billion in 2020. This increase was largely driven by a surge in purchases of packaged and shelf-stable products. Pasta, in particular, became popular due to its long shelf life, making it a preferred choice for consumers aiming to stockpile food for extended periods. During the pandemic, dried pasta demand in grocery stores surged dramatically. According to The...

  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...