Alcoholic beverages are an important part of the culture in many countries. The global alcoholic beverage market was recently valued at $1.439 trillion in 2017 and is expected to grow at a CAGR of 2.0% in coming years, with a projected value of $1.684 trillion in 2025.
The global dairy market value was estimated at $336 billion in 2014 and was projected to grow at a 6% rate with a value of $442 billion in 2019. Factors driving this growth include a growing world population, rise in per capita income, and an increase in consumer awareness regarding the health and nutritional value of dairy products.
One factor that contributes to these high projections is an overall increase in health concerns among consumers, which increases the demand for edible oils higher in unsaturated fatty acids like canola and olive oil.
The global non-alcoholic beverage market was recently valued at $967.3 billion in 2016 and is expected to grow at a CAGR of 5.8% over the next eight years. Segments of this market include carbonated soft drinks, fruit beverages, functional beverages, sports drinks, and bottled water.
The global seafood industry has expanded due to the advancements in high-seas fishing vessels, improvements in food processing and storage, and the establishment of fishing industries in developing countries. The effects include an increased availability of species variety and subsequent greater demand by the consumer, and this greater demand has brought on an onslaught of illegal practices and fraud.
After small projected growth in recent years due to rearranging of structure and operations as well as the impact of COVID-19, the global grain farming market is expected to rebound with higher growth to $1463.22 billion in 2025 at a CAGR of 6.4%. The global grain mills products market is expected to grow to $830.8 billion in 2026 at a CAGR of 3.4%.