measuring success in casino food and beverage

Second, non-alcoholic beverages will continue to outpace other drinks. Stacking YoY growth rates by category reveals three trends we’ll explore in the next section.įirst, 2020 marked a lasting step-change in shopping behavior. In contrast, the same meteoric rise is true in only one beverage category: non-alcoholic drinks. That’s not merely category value but expected revenue gains alone. More telling, four-year revenue growth in all food categories but one will exceed 2022’s total sales. Likewise, they lend themselves readily to online purchases. If previous recessions taught us anything, affordable comfort foods thrive in stress-induced conditions. Of the top five food categories worldwide, confectionery and snacks tower above the rest. Data and sources available within the full report Global Opportunities in the Food & Beverage Industry Compared to verticals like the online fashion industry at 11% or beauty and cosmetics at 12%, the future for ecommerce brands selling consumables is bright … though not without challenges. Unlike saturated segments, food and beverage’s three-year compounded annual growth rate (CAGR) will remain steady at 23% and 14% respectively. Like other verticals, 2020 saw a massive shift to online purchasing: a 51.6% year-over-year (YoY) increase for food and 39.3% for beverages. How Big Is the Food & Beverage Industry?Īlready a $435.3 billion combined market in 2021, worldwide revenue is expected to increase from $506.3 billion this year to $856.9 billion by 2025. Sustainable packaging, safety measures, and transparent manufacturing fill the current direct-to-consumer food and beverage landscape. It also includes manufacturing, packaging, and distribution to meet consumer demand.Įxamples in modern ecommerce typically include naturally-sourced products like juice, water, jerky, plant-based alternatives, and other edible, eco-friendly products. The food and beverage market consists of fresh, prepared, or packaged food as well as alcoholic and nonalcoholic beverages. What is included in the food and beverage industry? Food & Beverage Industry: Statistics, Data & Growth

Measuring success in casino food and beverage