US breakfast cereal industry thrives amid COVID-19 as sales hit new record high

US — The US breakfast cereals category has been thriving during the COVID-19 pandemic with sales in the ready-to-eat breakfast cereals category being expected to approach $12.1 billion as 2020 comes to an end. This is according to according to recent statistics from GlobalData, a UK-based data and analytics firm. If realized, sales in this category would be up 12% from $10.8 billion in RTE cereal sales in 2019. GlobalData had prior to the onset of the pandemic projected that annual breakfast cereal sales were expected to increase to US$10.9…

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Covid-19 pandemic to halt growth of India’s dairy industry

INDIA – Despite recording a 10% compound annual growth rate (CAGR) in the past decade, the dairy industry in India is projected to register flat revenue growth this year due to weak sales that have been aggravated by the Covid-19 pandemic-driven lockdown. This is according to a June report by research and analytics firm, Crisil, which says that the flat sales will be majorly as a result of weak sales of value-added products (VAP). According to the report’s projections, sales of VAP like ice cream, cheese, flavoured milk, curd and…

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Global beverage alcohol not expected to rebound until 2024, research shows

WORLD – The Covid-19 crisis is forecast to curtail worldwide beverage alcohol consumption growth from its peak in 2019 and take the next five years to rebound, a research by IWSR Drinks Market Analysis indicates. The global industry market analysis by IWSR illustrates that although worldwide beverage alcohol volume increased slightly in 2019, losses incurred in the months-long near complete shutdown of bars and restaurants across the world this year are expected to push the industry to a 12-year low; since the 2008 financial crisis. According to the research and…

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UAE and KSA food & beverage market to surpass US$80bn in 2020

UAE – The United Arab Emirates (UAE) as well as the Kingdom of Saudi Arabia (KSA) are some of the most strategic markets for food and beverage companies in the Gulf region and despite the COVID-19 crisis and the looming economic recession, the food & beverage market is projected to register steady growth throughout 2020 and reach US$80 billion. This is according to an industry analysis conducted by research firm, Frost & Sullivan titled the ‘2020 Outlook of the KSA and UAE F&B Market’, which attributes the growth to increased…

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US consumers spend US$5.3bn more on non-alcoholic beverages

USA – According to a special report issued by industry publication Beverage Digest, Americans spent US$5.3 billion more on non-alcoholic beverages in 2019 as companies like Coca-Cola continued to bring more new products to market and innovate in established core brands. According to the report, carbonated soft drinks (including energy drinks) drove the lion’s share of retail value growth in 2019, adding US$2.9 billion in retail value to the industry’s nearly US$146 billion in sales, topping 2018 growth of US$2.7 billion while Bottled water was the second-fastest-growing category, with US$1.2…

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Food, feedstuffs and beverages prices set to rise in 2020, report suggests

WORLD – The food, feedstuffs and beverages (FFB) price index in 2020 has been forecast to rise at a rate of 3.9%, boosted by high price growth of beverages. This is according to The World Commodity Forecasts Food Feedstuffs and Beverages report released by research and analysis firm, Research And Markets. The FFB price index contracted by 4.3% in 2019, as falling prices of oilseeds and weaker growth in the prices of cocoa, coffee and staple grains weighed on the index. However, the report highlights that the bilateral trade war…

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Global probiotic ingredients market size estimated to reach US$3.97bn by 2026

WORLD – Expanding R&D investments in dietary supplements by major manufacturers and continuous product development in nutritional beverages are expected to catapult the global probiotic ingredients market size to US$3.97 billion by 2026. This is according to a new study published by Polaris Market Research, which provides insights on the current market scenario and the future prospects, projecting the market to grow at a CAGR of 6.9 % from 2019 to 2026. Probiotics are live bacteria’s that facilitates digestive functioning in the human body and have been incorporated in several…

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Coronavirus crisis spreads to producers in the European dairy sector

EUROPE – The spread of the Coronavirus has impacted the European dairy sector significantly leading to major difficulties in procurement and logistics in the processing industry. According to a recent update by the European Milk Board (EMB), the dairy sector is experiencing high amount of milk production at the farm level – at capacities too high for existing processing and market capacity. This, combined with the strong downward spiral of all key indicators for the dairy sector and further compounded by possible personnel shortages, as well as the collapse in…

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Europe plant protein market projected to nearly reach US$10bn by 2027

EUROPE – The Europe plant protein market was valued at US$5.808 billion in 2018 and is expected to grow at a CAGR of 5.9% during the forecast period 2019 – 2027, to account to US$9.452 billion by 2027, according to a recent report by ReportLinker. Plant protein is a natural protein derived from plant sources such as soy, wheat, pea, and others. Like animal proteins, plant proteins provide building blocks for healthy muscles and tissues in the human body and are also beneficial for weight loss. However, plant-based proteins tend…

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Ice cream market shifts towards greater pleasure and less guilt, says Innova

WORLD – Pleasure is still the driving force behind ice cream purchases, with consumers naming its taste, the fact that it’s a treat and makes people feel happy as the top three reasons for buying it, a new report from Innova Market Insights highlights. In the contemporary consumer environment, however, the study finds that the balance between health and indulgence is increasingly important – resulting to the ice cream category’s growing focus on delivering pleasure without the guilt. As far as the key macronutrients are concerned, for example, the focus…

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