Food and Services Industry - Market Research Report

The global   coffee concentrates market   size was estimated at USD 2.36 billion in 2024 and is projected to reach USD 3.47 billion by 2030, growing at a CAGR of 6.8% from 2025 to 2030. The market growth is largely driven by the rising popularity of ready-to-drink coffee products among consumers seeking convenience. Asia Pacific: Largest market in 2024Busy professionals and consumers are increasingly seeking quick, convenient, and time-saving caffeine options. Coffee concentrates meet this demand by allowing users to easily mix concentrated coffee with water or milk to create flavorful beverages without extensive preparation. This convenience aligns with the fast-paced lifestyles of many urban consumers. Key Market Trends & Insights Asia Pacific coffee concentrates market dominated the global market and accounted for the highest revenue share of 40.5% in 2024. Europe's coffee concentrates market is expected to grow at a CAGR of 7.7% over the forecast period. Based on type,...

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...

The global   shea butter market   was valued at USD 2,412.4 million in 2024 and is forecast to reach USD 3,748.0 million by 2030, expanding at a CAGR of 7.9% from 2025 to 2030. Market growth is primarily supported by rising consumer preference for natural and organic ingredients, particularly in skincare and personal care products. Shea butter’s well-established moisturizing, anti-inflammatory, and antioxidant properties continue to strengthen its adoption across premium beauty formulations. Major Market Highlights Strong demand from the cosmetics and personal care industry, accounting for over 80% of global consumption in 2024 Europe remained the leading regional market, contributing more than 30% of global revenue in 2024 Raw or unrefined shea butter dominated product demand due to its high nutrient retention Increasing focus on ethical sourcing, sustainability, and women-led production networks in West Africa Regulatory oversight and international partnerships supporting qu...

The global   ready-to-drink (RTD) packaging market   was valued at USD 125.10 billion in 2024 and is projected to reach USD 216.79 billion by 2033, expanding at a CAGR of 6.4% from 2025 to 2033. Market growth is primarily driven by rising consumer preference for convenience, portability, and on-the-go beverage consumption across both developed and emerging economies. Growing health awareness and increasing consumption of functional beverages are further strengthening demand for RTD packaging solutions. Products such as protein shakes, functional teas, cold brew coffees, and vitamin-infused waters are gaining traction among health-conscious consumers. This has encouraged manufacturers to prioritize packaging formats that support mobility, shelf stability, and visual appeal, including PET bottles, aluminum cans, and cartons. Leading beverage brands continue to innovate in single-serve, health-focused packaging to align with evolving consumer expectations. Urbanization and fast-p...

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...