A Large and Growing Market
The foodservice and food retailing industries supplied about $1.79 trillion worth of food in 2019.
How much is the entire food industry worth?
Food, Beverage and Grocery OVERVIEW. The global food and agricultural industry for 2020 totaled about $9 trillion , according to Plunkett Research estimates, or about 10% of the world's GDP. Global food exports totaled about $1.5 trillion.
What is the size of the food industry?
How big is the U.S. food retail industry? In the United States, retail and food services sales amounted to 6.2 trillion U.S. dollars in 2019 , increasing for the tenth successive year. The total number of supermarkets in the U.S. has remained around 38,000 for several years.
How much did the food industry make in 2020?
The industry ended 2020 with total sales around $659 billion , or $240 billion below the association's pre-pandemic forecast–underscoring the effects of a relentless virus that has caused 110,000-plus closures, shifted operational models entirely and created deep trepidation about dining out.
How big is the food industry in the Philippines?
According to Euromonitor, retail sales in the packaged food market in the Philippines had been estimated to reach nearly US$14 billion in 2020 . That represents a growth rate of 32.6% or US$3.4 billion since 2016.
What industry is McDonald's considered?
McDonald's Corporation franchises and operates fast-food restaurants in the global restaurant industry . The Company's restaurants serves a variety of value-priced menu products in countries around the world.
Is the food industry growing?
The global food and beverages market reached a value of nearly $5,943.6 billion in 2019, having increased at a compound annual growth rate (CAGR) of 5.7% since 2015. The market is expected to grow at a CAGR of 6.1% from 2019 and reach $7,525.7 billion in 2023.
What is the largest industry in the world?
- That's right, the financial industry is the largest industry in the world! Totalling $109 trillion, it dwarfs the competition. ...
- Financial services. Technically, the financial industry is composed of companies that offer financial services. ...
- The foundation of the economy.
How big is the food industry in America?
How big is the U.S. food retail industry? In the United States, retail and food services sales amounted to 6.2 trillion U.S. dollars in 2019 , increasing for the tenth successive year. The total number of supermarkets in the U.S. has remained around 38,000 for several years.
How much is the food industry worth 2021?
Revenue in the Food market amounts to US$8,874,397m in 2021 . The market is expected to grow annually by 4.55% (CAGR 2021-2026). The market's largest segment is the segment Confectionery & Snacks with a market volume of US$1,592,401m in 2021.
How profitable is the fast food industry?
The Industry
Globally, fast food generates revenue of over $570 billion – that is bigger than the economic value of mostcountries. In the United States revenue was a whopping $200 billion in 2015 – quite a lot of growth since the 1970 revenue of $6 billion.
How fast is the food industry growing?
The market size of the Fast Food Restaurants industry in the US has grown 1.1% per year on average between 2016 and 2021.
Which country has the largest food and beverage sales?
Revenue of the global food market was highest in China at a value of 1.3 trillion U.S. dollars in 2020. The United States and India had the next highest revenues at 960 billion dollars and 589 billion dollars respectively.
What is the biggest food chain in the Philippines?
Jollibee
Widely renowned as the largest fast food chain in the Philippines, it has acquired other chains such as ChowKing, Greenwich, Red Ribbon, and Mang Inasal.
What is the food industry in the Philippines?
Food manufacturing , which includes food and beverage processing, remains the Philippines most dominant primary industry. The industry is worth a gross added value of more than $2 billion and grew by 3.2 per cent in 2007.
What is the largest fast food chain in the Philippines?
In 2017, the largest foodservice company in the Philippines was Jollibee with a market share of 11.9 percent in the foodservice industry. The sales value of the company was about 950.9 million U.S. dollars in the same year.
