The briefing examines how the food, beverages and tobacco industry is performing globally and in the largest countries in terms of food, beverages and tobacco output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.
This report comes in PPT.
Despite an inflation slowdown in 2023, manufacturers are still impacted by the lagging effects of the uncertain economic conditions since the start of the pandemic, and especially in 2022. High energy prices, ongoing labour shortages, increase in the price of raw materials and sluggish demand due to the cost-of-living crisis have led to many companies exiting the industry, or moving to mergers and acquisitions and consolidation in order to weather the situation.
The challenging situation during the pandemic has also opened many doors and opportunities for manufacturers to respond to rising health and environmental concerns, increase the value of their production and drive innovation. In Western countries, there has been an increase in the number of start-ups and companies looking at using technologies to increase the quality and functionality of food, beverages and tobacco products.
Rising geopolitical tensions stemming from the war in Ukraine and deteriorating relations between China and the West have caused a rearrangement of supply chains, with Russia and China turning to alternative countries in order to source their supply, decrease their reliance on Western countries, as well as boost their domestic production. This change in trade patterns has boosted the competitive advantage of countries such as Brazil and India.
Developing countries such as India and Indonesia are increasingly investing in their food and beverages processing capacity in order to boost their self-sufficiency, as well as increase the value of their production. With an abundance of raw materials, governments are heavily investing in machinery and inputs in order to build their production capacity, and boost the quality and safety of their products, in order to make them competitive.
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