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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Fresh Food Market Size
The global fresh food market size was valued at USD 3350.6 billion in 2023. The market is further projected to grow at a CAGR of 4.40% between 2024 and 2032, reaching a value of USD 4936.59 billion by 2032.
Key Takeaways
- Factors like the rise in online sales of fresh foods and increasing consumer awareness of healthy eating are contributing to the fresh food market growth.
- In U.S., total milk production increased from 189.9 billion pounds in 2008 to 226.5 billion pounds in 2022, showcasing increasing demand for dairy products.
- As per industry reports, New York is the nation’s fourth largest dairy state, with nearly 3,600 dairy farms that produce over 15 billion pounds of milk annually.
The Dietary Guidelines for Americans recommend eating 4.5 cup equivalents of fruits and vegetables per day, which translates to 2.25 cup equivalents per 1,000 calories. Due to this, many consumers are increasingly prioritising health and wellness, leading to a greater demand for fresh, unprocessed foods like fruits, vegetables, meats, seafood, and dairy products.
An example of this trend is the increasing demand for organic produce. Consumers are willing to pay a premium for organic fruits and vegetables due to their perceived health benefits and lower exposure to pesticides. This shift has led to the expansion of organic sections in supermarkets and the growth of dedicated organic food stores.
The fresh food market development is evolving with technological advancements that enhance efficiency and customer satisfaction. Digital platforms are streamlining transactions, enabling real-time inventory management, and improving accessibility and convenience for consumers. These advancements are reducing food waste, increasing sales, and enhancing customer experiences, contributing to the market growth. The adoption of online grocery platforms like Instacart and Amazon Fresh exemplifies this trend.
Another market trend is the rise of ready-to-eat meal or food kits, which reflects changing consumer preferences for healthier, home-cooked meals without the hassle of grocery shopping, impacting the fresh food market growth by creating new distribution channels and market opportunities. A notable example is the increasing popularity of meal kit delivery services such as Blue Apron and HelloFresh. These services cater to consumers seeking convenient, fresh meal options with pre-portioned ingredients delivered to their doorstep.
Fresh Food Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3350.6 billion.
The market is expected to grow at a CAGR of 4.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4936.59 billion by 2032.
The market is being driven due to growing consumer awareness of health and nutrition, increasing emphasis on local sourcing, rising consumer preferences for convenient, pre-cut produce options, and surge in demand for organic and natural food products.
Key trends aiding the market expansion include expansion of e-commerce platforms for online grocery shopping, adoption of farm-to-table practices, and advancements in storage and transportation technologies.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Based on product type, the market segmentations include dairy, fish and seafood, bread and bakery, meat, fruit and vegetables, and poultry.
By distribution channel, the market is divided into hypermarkets/supermarkets, specialty stores, online channels, among others.
Key players in the market are Del Monte Foods Inc., Dole Food Company, Inc., Cargill, Incorporated, Greenyard NV, NS Brands Ltd., Organic Valley, Pacific Fresh Produce, Inc., Taylor Fresh Foods, Inc., Grimmway Farms, and Sunkist Growers Inc., among others.
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