With production of USD3.0 trillion, Asia Pacific remains the world’s largest food, beverages and tobacco producer. Asia Pacific leads in the production of vegetable oils, grain mill products and commodities such as sugar, coffee, tea and spices. The industry is expected to post a 4.5% CAGR over 2016-2025, driven by growing population and rising urbanisation. Accelerating demand will also contribute to food and beverage import growth.
Asia Pacific is the world’s largest food, beverages and tobacco producer and is forecast a 4.5% CAGR over 2016-2025. Asia Pacific will continue to lead in the production of vegetable oils, grain mill products and commodities such as sugar, coffee, tea and spices.
Asia Pacific’s population is expected to show a 0.8% CAGR over 2016-2025 and reach 4.4 billion people driving demand growth for food and beverage products. India, China, Pakistan and Indonesia will increase the Asian population the most contributing to growing food consumption.
Higher disposable income will also drive food and beverage production contributing to growing expenditure on food in Asia Pacific. Moreover, the popularity of Western diets will increase demand for dairy products and premium alcoholic drinks. Imports are expected to grow to meet growing demand for premium products.
Asia Pacific dominates the global market in palm oil and soy bean oil production and is expected to significantly contribute to food production growth and continue providing the majority of global supply.
China is expected to maintain the leading position in food, beverages and tobacco manufacturing globally and increase industry turnover by 5.1% CAGR over 2016-2025 driving the entire region’s growth.
Asia Pacific countries still struggle from a lack of clean water supply and poor hygiene conditions in food manufacturing facilities, thus hindering full potential industry development.
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