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This Frost & Sullivan research service is an outlook of the global packaged food and beverage industry. In 2020, the COVID-19 pandemic moved from being a health crisis to a health and economic crisis. The packaged food and beverage industry was affected in terms of products sold and channels of sales. Some of the changes witnessed during the year are likely to continue into 2021, especially aspects pertaining to supply chains and consumption patterns. In addition, the trend of home-based cooking will continue, pushing demand for packaged cereals and baked products. Meal delivery services will gain traction, and companies that are able to offer substantial health benefits and differentiate their products will be able to stay ahead of their competitors.

The study is a global one; it coves Asia-Pacific, Europe, North America, and Rest-of-World. The base year is 2020. Segment-wise, the study covers cereal and bakery; dairy and milk; oils; fruit and vegetables; meat and seafood; alcoholic beverages; soft beverages; hot beverages (coffee and tea); and other grocery and snacks.

As the world settles into the new normal, the industry is anticipated to record growth in 2021. Customer awareness is on the rise, and the trend of personalization is gaining popularity (customization can be based on ingredients; dietary requirements, and health conditions). The industry is expected to remain concentrated in the Asia-Pacific region due to the rising trend of value-based product purchases; the mature North American and European markets will continue to see high demand for premium products.