The food & beverages industry is expected to grow significantly in the near future. Although an ever-growing population is the fundamental driving factor behind the industry’s growth, evolving demographics across developing economies is expected to be a game changer.
Changing lifestyles, growing middle-classes, rising number of two-income households and increasing participation of women in the workforce are all expected to drive the market for convenience food, especially in the booming economies of the Asia-Pacific region. Increasing instances of lifestyle-related diseases like obesity, diabetes and cancer, are expected to drive the market for natural ingredients over synthetics. Although this substitution has already gained traction in developed economies, factors such as high pricing and lack of awareness has hindered growth in developing economies. However, these challenges are expected to be overcome in the near future. Government regulations, labelling requirements, and trade barriers are all expected to have a significant impact on this industry.