Food and Beverage Market in Europe Poised for Steady Growth Till 2028

Food and Beverage Market in Europe

According to KPMG, it identifies several macroeconomics and technological factors impacting the food and beverages market, for example, Inflation and commodity volatility, regulatory landscape, and technological advancements. The food and beverage market in Europe is poised for continued growth, driven by innovation, sustainability, and evolving consumer preferences. Companies that adapt to these trends in technology and health-oriented products are likely to lead the market in the coming years.

• From the above chart, we can make out that there will be a rise in the food and beverage market in Europe size for the Food and Beverage market as food is forecasted to rise from 80% in 2020 to 84% by 2028, and beverages take a dip from 20% in 2020 to 16%.
• The latest technological advancements in the European food and beverages market have taken place where smart packaging as innovation takes place, which includes battery-free systems that monitor food freshness in real-time and release preservatives as needed, extending shelf life and refuge spoilage.
• Market trends in the food and beverage market in Europe indicate that consumers are continuing to value convenience. Consumers are being hit with inflation in the short term, which is leading to a reduction in the sale of premium products. However, demand for even premium plant-based protein is skyrocketing, with a rise in flexitarianism, a diet pattern with low meat consumption. European consumers are increasingly diversifying their diets, with higher consumption of grains, pulses, oilseeds, and exotic ingredients such as amaranth, quinoa, millets, and other once-obscure lentils.