The Food and Beverage industry accounts for 70% of the value chain associated with the European agricultural sector. The industry processes the raw material commodities produced by the agriculture vertical to procure consumer-based products that are distributed across the market. The European F&B industry is one of the largest contributors to this country’s economy. The industry accounts for 7% of the country’s GDP. Holistically, the manufacturing sector accounts for roughly 20% of the GDP. The industry generates a value of USD 278.73 Billion in value-added. Global Market Database is an effective market research tool that gives its users market wise quantitative inputs.
The economics associated with European Food and Beverage market:
The economics associated with this industry states that the EU’s food and beverage segment employs 4.72 Million people through 294,000 companies. The overall consumption and household expenditure associated with this market account for 13.8% of the turnover generated in the year 2019. The rising disposable income is one of the key factors that propel the growth associated with this market. The per capita spending capacity is hence directly proportional to the demand associated with this market. Moreover, it is seen that even the small, as well as medium-sized companies, account for roughly 47.5% of the turnover on a cumulative scale. These SMEs account for 60.8% of the employment generation within this market.
The insights based on these numbers state that the industry is one of the key contributing factors to the growth dynamics associated with the EU. The market numbers have been studied using Global Market Database . The dynamic cloud-based market research platforms function via DMD technology. The growth segments and the industrial dynamics have been assessed using this domain. Global Market Database is a world’s first dynamic B2B Market Research Platform which provides free market research tools .
Trade associated with European Food and Beverage market:
On understanding the export and import values associated with this sector it is seen that the external trade accounted for a value of USD130.09 Billion in the year 2019. In the same year, it was recorded that the industry attained an import value of USD 87.52 Billion. The trade balance was recorded to be positive, thus accounting for USD 42.58 Billion. In the past decade, it was recorded that the trade surplus associated with this market doubled. On a holistic scale, it was seen that the EU was estimated to account for 19% of the global exports in terms of the food and beverage sector. The industry accounts for 15.1% in terms of F&B manufacturing turnover. The region has invested a value of USD 3.43 Billion as of 2019 to further expand the market.
Key Players within European Food and Beverage market:
The industry has been trying to enhance its competitiveness within its F&B industry. Moreover, the norms associated with manufacturing these products are also strictly monitored since the growth of this sector is highly based on consumer reviews. Nestle is one of the key market players associated with the EU’s food and beverage industry. The enterprise is essentially stationed in Switzerland. The company generated total sales worth USD 93,268 Million as of 2018. Food sales accounted for a value of USD 80,195 Million in the same year. The company ranked as the largest F&B company stationed within the EU.
Danone is another key player associated with this market that generated revenue worth USD 20,830 Million. The company has been adopting strategies in order to increase the lucrative sales associated with its focal sector. Consumer behavior has been shifting towards healthy lifestyles like veganism. Moreover, people are beginning to prefer organically based crop substances owing to the added health benefits. Therefore, the organization has been making an effort to establish the EU’s farm to form a strategy.
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