Food Industry Statistics and M&A

Food Industry Trends that Can Affect M&A Activity

Convenience

Definition — Convenience means maximizing efficiency and leveraging the timesaving potential for the consumers before, during, and after purchasing their products and services. (Source: Monitor Deloitte)

• Food Delivery and Online Orders — Although there were numerous restaurant closures because of the pandemic, it brought a jump in the use of food delivery apps and online food orders.
• Restaurants With Mobile Ordering — 92% of high-performing restaurants offered their customers mobile order-ahead options and loyalty rewards programs. (Source: Stacker)
• Cashless and Contactless Payments — A recent global consumer study reveals that nearly 8 in 10 people are now using contactless payments. 74 percent of the respondents insisted they would continue to make contactless purchases in the post-pandemic era. (Source: Nayax)
• Subscription Meal Kits — Related to the food delivery trend is a surge in subscription meal kits. The COVID-19 pandemic helped the market for “meals in a box” rebound when millions of Americans found themselves under stay-at-home orders with more time on their hands to prepare meals.
• The Food Truck Trend — Millennials and Generation Z are the majority of the customer base for food trucks, and in fact, 47% of millennials have ordered from them. The most successful food truck businesses will quickly adapt to the newest food industry trends, including their customer’s needs to be more aware of the environment and their health. (Source: Food Truck Industry Update – Linchpinseo)

Healthy Eating

Definition — Healthy eating means maintaining healthy eating habits that include consuming a variety of nutritious foods and drinks, as well as healthy, clean, and organic foods that positively impact a person’s overall health.

• Organic Food Industry Continues to Grow — It is expected that the global organic food and beverage market will increase, with a compound annual growth rate (CAGR) of 13% until 2030. (Source: Grand View Research)
• CBD-Infused Drinks Trend — Because the cannabidiol (CBD) industry is thriving, the restaurant industry is exploring some creative uses in food and drink. According to 75% of chefs, CBD-infused drinks are trending in the sector. (Source: NetWaiter)
• Sugar Avoidance — Consumers are trying to avoid sugar, and the demand for low or no-sugar alternatives is rising for the growing health-conscious public.
• Most Consumers Want Healthier Chocolate — Research suggests more than 60% of U.S. consumers wish there were healthier chocolate options in the market, according to data released by Mintel. (Source: Confectionery News)
• Plant-Based Food Popularity — More than half of American consumers are eating more plant-based foods, and their popularity is forecast to grow. (Source: Home Steading Now)
• Plant-Based Diets Increase — Plant-based diets have increased 300% for Americans in the last 15 years, and global retail sales of plant-based food alternatives may reach $162 billion by 2030. If so, the projected plant-based food market would make up 7.7% of the global protein market. (Source: Consumer Trends: Food Manufacturing)
• Consumers Crave Clean Labels — The global clean-label ingredient market is projected to reach $44.46 billion with a compound annual growth rate, or CAGR, of 8.90% by 2030. (Source: Straits Research)

Sustainability

Definition — Sustainability means being able to support or maintain a process continuously over time. Food sustainability refers to producing food using methods that make efficient use of natural resources, protect the environment, help farmers support their families and themselves, and improve the quality of life in those communities that produce food, including animals and people.

• Clean Labels — The term “clean label” has formerly referred to being transparent about how organic and additive-free a product is, but presently it now means demonstrating how humane and sustainable a product is.
• Recyclable Packaging — According to Trivium Packaging’s Global Buying Green Report, 67% of consumers believe it is important the products they buy come in recyclable packaging. Also, the same percentage think they are environmentally aware, which is the same percentage as prior to the pandemic. (Source: Food Dive)

Transparency

Definition — Transparency means allowing consumers to know how and where the food being sold is made or grown.

• 60% of Consumers Want Transparency — Three out of five consumers globally state they are interested in finding out more about how their food is produced and where it comes from. (Source: Edlong)
• 74% Want Transparent Labels — The vast majority (74%) of survey respondents agreed that front-of-pack labels with key nutrients (saturated fat, sodium, sugar) help consumers make more informed decisions. (Source: New Food)

Variety

Definition — Variety refers to different types of food from the entire range of food groups. It can also refer to different types of food preparation. (Source: Embibe)

• The Majority of Millennials Experiment With Products — Up to 79% of Millennials enjoy experimenting with various products from different countries. (Source: Finances Online)

Food and Beverage – Environmental and Social Statistics

Environmental

Definition — A factor that can affect and influence the consumption volume of food far more than most people realize.

• Food Shortage Due to Climate Change
  • Causes of Food Shortage — Drought, flooding, and sudden changes in temperature due to climate change are the main causes of food shortages around the world. This affects both livestock and crops.
  • Impact of Climate Change — Recent scientific research suggests that climate change could reduce crop yields by 2% per decade over the next 100 years. (Source: The Guardian News Website)
• Food Waste Produces Greenhouse Gases
  • Food Waste in Landfills — Every ton of food waste disposed of in landfills produces approximately 4.2 tons of greenhouse gases. If you were to characterize food waste as a country, it would be the third highest source of greenhouse gases after the USA and China. (Source: The Felix Project)
• Environmental Impact
  • Energy Bill — Food production and transportation account for a huge energy bill. Food Waste Worldwide. Almost half of all food produced worldwide is wasted. From scraps to perfectly unspoiled food will be discarded anywhere from during processing to in kitchens. (Sources: The Guardian and the David Suzuki Foundation)
• Energy Usage — Almost 16% of North America’s energy usage comes from the food industry, and 10% of that energy comes from food transportation. (Source: Urban Cultivator)

Food Safety

Definition — Food safety, also known as food hygiene, is a scientific method or discipline that describes the handling, storage, and preparation of food in ways that prevent foodborne illnesses. Food safety refers to the practices observed during the processing, handling, and distribution of food to make sure the contaminants that cause foodborne sicknesses are not present.

• Contaminated Food — Almost 1 in 10 people globally, or an estimated 600 million, fall ill after eating contaminated food. And 420,000 die yearly, adding up to a loss of 33 million healthy life years. (Source: World Health Organization)
• Unsafe Food in Low-Middle-Income Countries — $110 billion is lost every year in productivity due to medical expenses, which result from unsafe food in low- and middle-income countries. (Source: World Health Organization)
• Foodborne Disease in Children — Under Age 5 Children under age five are affected by 40% of foodborne diseases, with 125,000 deaths annually. Foodborne diseases hinder socioeconomic development by draining healthcare systems and harming national economies, trade, and tourism. (Source: World Health Organization)

Food Security

Definition — Food security pertains to the quantity of available food and people’s ability to access it. The United Nations World Food Security Committee reports that food security means all people, at all times, have economic, physical, and social access to safe, sufficient, and nutritious food that supports their dietary requirements and food preferences for a healthy and active life.

• World Hunger — Half of the world’s population goes hungry every day. (Source: My Mom)
• People Affected by Hunger — It is projected that over 840 million people, or 10% of the global population, will be affected by hunger by 2030. (Source: Science Direct)
• Food Insecurity on the Rise — Around the world, more than enough food is produced to feed the global population, but as many as 828 million people still go hungry. After a decade of steady decline, world hunger is rising, affecting nearly 10% of people globally. (Source: Action Against Hunger)
• Overcoming Malnutrition — Overcoming malnutrition and hunger in all forms, including micronutrient deficiencies, undernutrition, obesity, and being overweight, means more than getting enough food to survive. What people consume, especially what children consume, must also be healthy. Yet the main barrier is the high expense of nutritious foods and the low accessibility of healthy diets for many families. (Source: World Health Organization)
• State of Food Security Report — According to the State of Food Security and Nutrition in the World report, “The world is moving in the wrong direction,” as they target to end food insecurity, hunger, and all forms of malnutrition.
• Millions Affected by Hunger — It is forecasted that almost 670 million people, or 8% of the world’s population, will continue to be affected by hunger in 2030. (Source: International Institute of Sustainable Development)

Healthy Eating

Definition — Healthy eating means maintaining healthy eating habits that include consuming a variety of nutritious foods and drinks, as well as healthy, clean, and organic foods that positively impact a person’s overall health.

• McDonald’s and the Christian Cross — People recognize the McDonald’s logo more often than the Christian Cross. In fact, 88% of the participants in a survey correctly identified the fast-food chain’s logo compared to 54% who could identify the Christian symbol. (Source: Finances Online)
• Fast Food Consumption — A whopping 50 million Americans eat fast food every day. (Source: Finances Online)

Resources

Definition — Resources include simple, mixed, or compound commodities and products or complement to such products or commodities that can be ingested by either humans or animals, regardless of other uses for such commodities or products at all stages of processing. Food resources also refer to potable water packaged in commercially marketable containers, all sugars and starches, animal, vegetable, or marine fats and oils, seeds, hemp, cotton, and flax fiber. However, it does not refer to any such material after losing its identity as an agricultural product or commodity. (Source: The White House)

• World’s Population Under Water Stress — Approximately 43 countries, or 700 million people, live under water-stressed conditions. And by 2025, 1.8 billion people around the world will have to deal with absolute water scarcity. (Source: United Nations Department of Economic and Social Affairs)
• Agriculture Uses the Most Water — Agriculture is the biggest user of water. It claims some 70% of all freshwater is appropriated for human use and needed for food production. (Source: Good Net)

Social

Definition — The term, social, relates to human society, the welfare of human beings as members of society, or the interaction between an individual and a group.

• The Gender Gap and Higher Yields — Closing the gender gap in agriculture would result in a 20% to 30% yield increase (Source: U.N. Food and Agriculture Organization). Boosting women’s access to productive resources, like agricultural tools, labor markets, and education, could raise the total agricultural output in developing countries. (Source: Good Net)

Waste

Definition — Waste is any substance discarded after its primary use, or is defective, worthless, or useless.

• One-Third of Food Is Wasted
  • Food Waste Statistics — Approximately one-third of food in the world is wasted before it gets consumed. (Source: The Guardian News Website)
  • Food Spoilage — In the developed world, the majority of the waste occurs on the consumer side when food spoils in refrigerators or in grocery stores.
  • Inefficient Storage — Most of the waste in the developing world happens on farms due to inadequate processing and storage facilities.

Food and Beverage – Consumption and Demand Statistics

Food for Animals (Feed Crops)

Definition — Food given to domestic animals, especially livestock, in the course of animal husbandry. (Source: Wikipedia)

• Land Used for Livestock — Farmers use 26% of the planet’s ice-free land for livestock grazing and 33 percent of croplands for livestock feed production. Livestock contributes 7% of total greenhouse gases through manure and enteric fermentation. (Source: FAO Stats)
• World Grain Fed to Livestock — Livestock consumes nearly 40 percent of world grain and more than half of the grain in the U.S., rather than humans. (From “Livestock Production: Energy Inputs and the Environment by David Pimentel)

Food for Fuel

Definition — Food for fuel refers to any food that can be converted into fuel. Maize, vegetable oil or sugar cane can be used as food or biofuels.

• Food Used for Fuel — Not all food that grows on the planet is used as food. (Source: The Guardian News Website)
• Corn Used as Fuel — Approximately 40% of the corn produced in the U.S. is being turned into first-generation biofuels, such as ethanol. (Source: The Guardian News Website)
• Bioethanol as Fuel — It only takes the sugar in the corn to create bioethanol, which leaves a protein-rich byproduct – dried distiller’s grain – that farmers can feed to livestock.

Food for Humans (Cash Crops)

Definition — Food for humans consists primarily of proteins, fats, carbohydrates, and other nutrients the body of an organism uses to furnish energy, and sustain growth and vital processes.

• Global Food Demand Expected to Rise — By 2030, the global economy could double in size, and India and China will swell to represent around 40% of global middle-class consumption. This will significantly alter the composition of global diets. (Source: One Org)
• Obese Adults — One out of every three adults is obese. This is approximately 36% of the world’s population. (Source: Harvard)
• Overweight American Adults — Nearly 40% of American adults ages 20 and above are obese, and 71.6% are overweight. (Harvard School of Public Health).
• Heaviest Human on Record — Jon Brower Minnoch, who lived from 1941 to 1983, was an American man who, at his peak weight, was the heaviest human on record, weighing 1,400 pounds or 635 kilograms. (Source: Wikipedia)
• Most Hotdogs Eaten — Joey Chestnut holds the world’s record for eating the most hot dogs. He consumed 73 franks at the Nathan’s Famous Hot Dog Eating Contest. That’s about 16 pounds, or as much as 42 billiard balls.

Global Food and Beverage Industry Statistics

Consumption

Definition — The act or process of consuming, consumption of food, and consumption of resources. (Source: Merriam Webster)

• Food Consumption of the Average Person — In the world, the average person consumes approximately 1.85 kilograms (kg) or 4.07 pounds (lb) of food per day or 675 kg or 1,488 lbs of food per year. (Source: Good Seed Ventures)
• The Most Consumed Food — The most consumed food in the world is milk, followed by rice, wheat, and potatoes.
• The Most Consumed Meat — Seafood is the most consumed meat worldwide, followed by pork, chicken, and beef.

Employment

Definition — Employment refers to an activity that a person has been engaged in and is being paid by an employer. It can also mean a person’s profession or trade or the act of providing work to someone.

• Employment of Over One Billion People in Agriculture — It is also the single largest employer in the world. Over one billion people around the world make a living from agriculture, representing one in three of all global workers. (Source: Goodnet, Gateway to Doing Good)
• Food Industry Jobs in the U.S. — Jobs in the U.S. food service industry are expected to grow at a rate of 17% by 2030. Across the food service industry, around 740,000 jobs are likely to be created by 2030. (Source: Study.com)
• Restaurant Industry Employees — In America, there are 15.1 million restaurant industry employees encompassing 10% of the total U.S. workforce. (Source: National Restaurant Association)
• Millions of Food Industry Jobs Lost — During the coronavirus pandemic, the food industry lost nearly 2.5 million jobs. (Source: Biz New Orleans)

Industry Growth

Definition — The growth of something such as an industry, organization, or idea and its development in size, wealth, or importance. (Source: Collins Dictionary)

• Global Market Revenue Surges —The global food market is projected to grow to $285.3 billion in 2030, with a compound annual growth rate (CAGR) of 4.52%, according to the latest Spherical Insights & Consulting research report.
• Global Beverage Market Size Skyrockets — The global beverage market will be valued at more than $1.691 billion by 2027 at a CAGR of 1.7%. (Source: Globe News Wire)
• Fast Food Industry Generates Billions — The global fast food market is projected to grow to $1,467.04 billion by 2028 at a compound annual growth rate, or CAGR, of 6.05%. (Source: Fortune Business Insights)
• Food Sale Totals Reach the Trillions — Worldwide processed food sales total about $2 trillion. The U.S. accounts for 37.5% of all sales. Other large markets include Western Europe and Asia, with China growing the fastest. (Source: Pollock)
• Retail Market Expected to Grow Annually — The global grocery and retail food market are predicted to grow at a 3% compound annual growth rate (CAGR) until 2030. (Source: Grand View Research)

Population Increase

Definition — Population increase refers to a rise in the number of people in a dispersed group or population.

• World Population Continues to Soar — The world’s population is expected to be 9.7 billion by 2050. One of the biggest challenges to mankind will be feeding this population. (Source: United Nations Report World Population Prospects)

Revenue

Definition — The total amount of money that is produced by selling goods or services to customers. (Source: The Economic Times)

• Food Market Revenue Exceeds Trillions — The revenue in the food market is forecasted to rise to $11.99 trillion and increase by 6.72% annually (CAGR) by 2027. (Source: Statista)
• Global Food Service Market Increases Revenue — The worldwide foodservice market is projected to grow to $5,194.60 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 10.76%. (Source: Fortune Business Insights)

U.S. Food and Beverage Industry Statistics

Agriculture

Definition — Agriculture is the science of growing crops, cultivating the soil, and raising livestock. It includes producing plant and animal products and distributing them to markets. Agriculture provides the majority of the world’s food and fabrics.

• Revenue Contributions in U.S. GDP — Food, agriculture, and all the related industries contributed $1.055 trillion or a 5% share to the U.S. gross domestic product (GDP). (Source: U.S. Department of Agriculture)
• Total Farm Employment in the U.S. — The total U.S. farm employment is 2.6 million jobs or 1.4% of U.S. employment.
• Agricultural Exports Supported More than a Billion Jobs — U.S. agricultural exports supported more than 1.3 billion jobs and generated over $154 billion in additional economic activity. 39 percent of these jobs were in the farm sector, while the remaining 61 percent were jobs outside the farm gate. (Source: Agamerica)
• Large-Scale Family and Non-Family Industrial Farms — Large-scale family farms and industrial non-family farms account for only 5% of farms, but 59.4% of the production in dollars. Small-scale family farms represent nearly 89% of U.S. farms, but only 20.4% of production. (Source: Center for Sustainable Systems)

Establishments

• Number of Farms – 2,000,000
• Top 10 States with the Most Farms
  • Texas – 247,000
  • Missouri – 95,000
  • Iowa – 84,900
  • Oklahoma – 77,200
  • Ohio – 76,900
  • Kentucky – 74,100
  • Illinois – 70,900
  • Tennessee – 65,900
  • California – 69,000
  • Minnesota – 67,400
• Distribution of Farms by Revenue
  • $1,000 to $9,999 – 51%
  • $10,000 to $99,000 – 30.5%
  • $100,000 to $249,999 – 6.7%
  • $250,000 to $499,999 – 4.4%
  • $500,000 to $999,999 – 3.5%
  • $1,000,000 + – 3.9%
• Average Farm Size – 445 acres
• Total Farmland Area in U.S. – 895 million acres or 40% of all U.S. land.
• Trade
  • Imports — Agricultural imports have grown throughout the decade, with the value of imports rising from $133.2 billion in the fiscal year 2020 to $174.5 billion by the fiscal year 2030.
  • Exports — Agricultural exports are expected to grow at an annual rate averaging 2.2% per year for the rest of the decade.

Beverage Manufacturing

Definition — The beverage industry, also called the drink industry, produces drinks and ready-to-drink products.

• Beverage Industry Growth — The global beverage industry is predicted to increase at a Compound Annual Growth Rate (CAGR) of 1.7%. At that rate, the market will have a value of over $1.691 billion by the conclusion of 2026. As of 2022, the worldwide beverage market has a value of $1.8 trillion. (Source: Zippia)
• Non-Alcoholic Drink Revenue — Revenue in the Alcoholic Drinks market amounts to U.S.$261.10 billion in 2022. The market is expected to grow annually by 10.51%. (Source: Statista)
• U.S. Beverage Industry Generated More than $225 Billion — The beverage industry in the U.S. has generated total annual revenue of more than $225 billion. The non-alcoholic beverage industry in the USA generates approximately $225 billion in annual revenue. (Source: Zippia)
• U.S. Beverage Yearly Employment — Every year, there are about 955,100 job openings in the U.S. beverage sector. (Source: Zippia)
• Soft Drink Consumption in America — In America, half of the adults and 60.7% of the children drink soft drinks or sugary beverages daily. However, the numbers had decreased since 2003 when 61.5% of American adults and 79.7% of American children drank sugary drinks every day. (Source: Zippia)
• Coffee and Water Consumption — Americans over 60 drink the most coffee, while people between 20 and 39 consume the most water. At 63%, coffee is the second most frequently consumed beverage in the U.S. (Source: Deals on Health)
• Bottled Water Is the Fastest Growing Segment — The fastest-growing product in the beverage industry is bottled water. In fact, water accounts for 51.2% of the nation’s non-alcoholic beverage consumption. (Source: Zippia)

Food Manufacturing/Processing

Definition — Food manufacturing involves the methods and procedures for transforming edible raw materials into food products for buying and selling.

• F&B Is the Third Largest Employer — The third largest contributor to the total manufacturing gross domestic product in America is the food and beverage industry.
• Food Manufacturing Employment Over a Million — Food manufacturing employment amounts to over 1.8 million and more than three-quarters of the 27,000 U.S. food manufacturers with less than 100 employees. (Source: National Institute of Standards and Technology)
• Food Manufacturing Challenges — Food manufacturers face many hurdles including using sustainable production processes and packaging, complying with the Food Safety Modernization Act, and constant innovations in technology. (Source: National Institute of Standards and Technology)
• U.S. Food Manufacturing Annual Revenue of $780 Billion — The U.S. food manufacturing industry comprises about 27,000 establishments with a combined annual revenue of approximately $780 billion. (Source: First Research)
• Packaged Food Industry Value — The packaged food sector has a value of $377 billion. (Source: Supermarket News)
• Manufacturing Sector Employment — The American food and beverage manufacturing sector employs almost two million workers each year. (Source: U.S. Department of Agriculture – USDA)
• Meat and Poultry Employment — The highest percentage of food and beverage manufacturing workers were employed at meat and poultry plants, followed by bakeries and beverage plants. (Source: U.S. Department of Agriculture – USDA)
• Meat and Poultry Plants — Meat and poultry plants employ approximately one-third of U.S. food and beverage manufacturing workers. (Source: U.S. Department of Agriculture – USDA)
• Packaged F&B Sales Reached the Billions — The U. S. packaged food and beverage market will surpass $2,348.44 billion by 2030, up from $815.55 billion in 2020, at a CAGR of 11.16%. (Source: Globe News Wire)
• New Brand Franchises Every Year — Each year, approximately 300 new brands begin franchising in the USA. (Source: Frankart Global)
• Top Priorities in F&B — The highest opportunities in the food and beverages market are in the meat, seafood, and poultry market, which will garner $425.9 billion of global annual sales in the coming years. (Source: Cision: PR Newswire)
• Employment by Sector — Here is a breakdown of the food and beverage manufacturing employees by the industry for 2019:
  • Meats – 29.7%
  • Bakeries and Tortilla Products – 15.4%
  • Beverages – 12.2%
  • Other Food – 11.7%
  • Fruits and Vegetables – 9.1%
  • Dairy – 8.8%
  • Sugar and Confectionary – 4.8%
  • Animal Food – 3.3%
  • Grain and Oilseeds – 3.0%
  • Seafood – 1.9%
• General Food Consumption and Expenditures
  • Food Expenditure Amount Averages — To buy food, on average, Americans spend 12% of their household budgets. Food ranks third behind housing at 34.9% and transportation at 16% among the expenditures of the average U.S. household. (Source: Zippia)
  • Fast Food Industry Market Size — The revenue of the U.S. fast food industry is projected to reach $410.1 billion by 2030.
  • Americans and Fast Food — The number of Americans who consume fast food daily is 37% or 50 million people. (Source: Zippia)
  • Food Market Revenue Expected to Keep Growing Annually — Revenue in the U.S. Food market amounted to $964.70 billion in 2022 and is forecasted to grow yearly by 3.38%. (Source: Statista)

Grocery

Definition — An establishment that primarily sells a variety of food products, which may be frozen, packaged, canned, or fresh.

• Global Food and Grocery Retail Market — The food and grocery retail market are expected to reach $14.78 trillion by 2030 across the globe, registering a CAGR of 3.0%. (Source: Global News Wire)
• Online Grocery Shopping Statistics — By 2030, the online grocery market size globally is expected to reach $2,158.53 billion at a Compound Annual Growth Rate (CAGR) of 25.3%. (Source: Globe News Wire)
• Americans and Weekly Grocery Shopping — On average, Americans spend approximately $120 weekly on groceries. (Source: Balancing Everything)
• Annual Shoplifting Stats in the U.S. — The annual losses suffered by retailers due to shoplifting, theft, and inventory shrinking incidents was $46.8 billion in the U.S. grocery store theft statistics reveal all these costs about 1.33% of the sales. (Source: Balancing Everything)
• Millions Employed in the Grocery Industry — A total of 4.8 million people in the U.S. currently work in the grocery industry. (Source: Brandon Gaille)
• Shoppers Look for Locally-Grown Food — About 25% of grocery shoppers in America are actively looking for locally-grown foods. (Source: CreditDonkey)
• Global Food Retail — According to zippia.com, the retail global food sector is worth $11.7 trillion, and this number is predicted to rise in the following years. Experts also foresee a Compound Annual Growth Rate (CAGR) of 5% between 2020 and 2027.
• Grocery Stores in the U.S. — Grocery stores account for 15.6% of total retail industry sales in the USA. The grocery stores alone produced $759.57 billion in sales, while the total retail industry generated $4.85 trillion. (Source: Food Retail Statistics, Zippia)
• Largest Food Retailer — In the United States, the largest retailer of food is Walmart. As of October 2022, there are 4,662 Walmart stores in America. Texas has the most Walmart locations in the U.S., with 516 retail stores, or approximately 11% of all Walmart stores. (Source: Food Retail Statistics, Zippia)

Horticulture

Definition — The art of cultivating plants in gardens to produce food and medicinal ingredients or for comfort and ornamental purposes. The branch of plant agriculture includes garden crops, generally vegetables, fruits, and ornamental plants. The word “horticulture” comes from the Latin word “hortus,” meaning “garden,” and “colere,” meaning “to cultivate.”

• Global Horticulture Market Size — The global horticulture market is expected to reach $40.24 billion by 2026 at a Compound Annual Growth Rate (CAGR) of 10.2%. The growing penetration of sustainable horticulture practices and the significant advancement in the agricultural sector are among the main factors influencing the market. (Source: Global Market Estimates)
• Horticulture Enriches Diets — Horticulture, specifically growing fruits and vegetables, provides the proper nutrition to maintain a balanced diet. Diets low in vegetables and fruit are the cause of the world’s most debilitating and widespread nutrient-related disorders. (Source: Feed the Future)
• Horticulture Increases Incomes — Farmers growing high-value crops, such as fruits, herbs, vegetables, and flowers, consistently earn more than those who grow other commodities. Horticulture can be the impetus for economic and agricultural diversification. (Source: Feed the Future)
• Horticulture Production in the U.S. — In the U.S., 10 states account for 65% of horticulture production. California, Oregon, and Florida led the nation in sales. (Source: Ameri Nursery)

Online Retail

Definition — A business or individual that sells retail products and services through online stores. (Source: Optimizely)

• Digital Buyers in the World — The total digital buyers reached 2.14 billion, which amounts to 27.6 percent of the 7.74 billion people globally. (Source: Oberlo)
• E-Commerce Worldwide — As internet access and adoption are rapidly increasing worldwide, Global e-commerce sales are expected to hit $5.5 trillion in the coming years. (Source: Ibis World)
• Majority of U.S. Adults Shop Online — Around 76% of U.S. adults shop online. (Source: Cloudwards)
• Smartphones to Order Food Online — Smartphones are slowly becoming the preferred way to order food online. (Source: Cloudwards)
• Retail E-Commerce Revenue in 2021 — In 2021, retail e-commerce sales increased to about 5.2 trillion U.S. dollars worldwide. This number is expected to increase by 56% during the next few years, rising to approximately $8.1 trillion by 2026. (Source: Statista)
• USA Revenue Will Increase by 2025 — In the U.S., revenue from retail e-commerce was estimated at about $768 billion in 2021. The Statista Digital Market Outlook predicts U.S. online shopping revenue will pass 1.3 trillion dollars by 2025.
• Online Customers Growth Forecast — The online grocery customer base is about 150 million people, which is foreseen to grow even more in the near future. (Source: Statista)
• Employment in the Online Grocery Industry — The number of U.S. online grocery shoppers is expected to surge in upcoming years, according to eMarketer. In response, grocery stores, supermarkets, and other food companies are adding various meal delivery kits and prepackaged options. In addition, they have invested in distribution centers, warehouses, and other facilities to keep up with the demand for online grocery shopping. That means hiring qualified workers who can help with packaging, sorting, picking, and other tasks in food service warehouses. (Source: People Ready)
• Consumers Prefer Digital Online Ordering — At least 70% of all U.S. consumers prefer digital online ordering for off-premise delivery, and since the pandemic, 57% have a third-party delivery app, and 79% have a restaurant app. (Source: Deloitte)
• Food Delivery and Takeouts Now Essential — 53% of survey participants and 64% of millennial participants said that takeout and food delivery are essential to their lifestyles. (Source: National Restaurant Association) American Food Delivery Orders Rises Significantly — A total of 86% of Americans have ordered food delivery at least once a month. (Source: GloriaFood)

Restaurants and Fast Food

Definition — An establishment or a place where meals are prepared and served to customers. (Source: Dictionary Cambridge)

• Americans and Fast Food — At least 50 million, or 37% of Americans, eat fast food every day. (Source: Statista)
• Fast Food Market Size — The global fast food market is expected to surpass around $964.6 billion by 2030, registering at a CAGR of 4%. (Source: Globe News Wire)
• Compound Annual Growth Rate From 2020 to 2027 — The expected Compound Annual Growth Rate (CAGR) of the U.S. fast food industry is 5.1% from 2020 to 2027. (Source: Statista, 2020)
• Number of Fast Food Restaurants in the U.S. — By 2030, the global quick-service restaurant and the fast-food market are expected to reach around $410.1 billion, growing at a CAGR of roughly 5.8%. (Source: LinkedIn)
• Revenue — In the U.S. alone, the fast food industry produces approximately $110 billion in revenue annually. (Source: Statistic Brain)
• Revenue Spent on Ingredients — 40% of a restaurant’s revenue is spent on ingredients. (Source: Hospitality Technology)
• Social Media — Over 70% of consumers are more likely to order from a restaurant that engages them via social media. (Source: MGH)
• Food Waste — As much as 10% of food gets wasted before even hitting a plate in some restaurants. (Source: FoodPrint)
• Mobile Payment — According to 49% of restaurant operators, a mobile payment option is a must-have technology for diners. (Source: Upserve)
• Online Reviews — Most diners find online reviews helpful when picking a restaurant; in fact, 94% of consumers report checking them. (Source: TripAdvisor)
• QR Code Payments — The use of QR code payments worldwide will rise by 240% by 2025, mainly due to the cashless payment needs of the coronavirus pandemic. (Source: Juniper Research, 2021)