LONDON, November 25, 2020 (GLOBE NEWSWIRE) – The global food and beverage market is extremely diverse with many local suppliers catering to national and regional food needs and preferences; therefore, it is a fragmented market. The biggest companies in the food and beverage market vary in their focus, with packaged food and snack manufacturers, meat processors, tobacco manufacturers, brewers, and food companies all making the top 10.
Nestlé SA is a Swiss company, and its registered office remains in Switzerland. Its operations, however, span 189 countries, with approximately 339,000 employees. Nestlé SA builds up its market share through sales of more than 2,000 brands, some with global recognition and others local. The largest share of their revenue is made in the drinks category with recognizable brands such as Nescafé, Nespresso, Nesquik and Nestea. Other top internationally recognized brands include KitKat, Maggi, Toll House, and Milo.
Nestlé has followed an engaging strategy in recent months, intelligently engaging the younger generations who are harder to reach through conventional advertising. Their recent campaigns have seen KitKat trying to entice gamers through Twitch with their well-established ‘Take A Break’ slogan, with taking a break being something gamers are notorious for not doing! Targeting gamers at a time when more people are looking for home entertainment makes perfect marketing sense, allowing the brand to connect with a younger audience than the one it is usually associated with. Another example is their Milo Cereal campaign through TikTok, encouraging young adults to engage in activities and sports at home. Again, targeting through social media and on youth platforms is a newer concept for the brand, but one that has proven successful because it brought elements of fun and was at a time when the platform- form was seeing more users because people needed to be entertained at home. .
PepsiCo follows Nestlé with the second largest market share, with Anheuser-Busch InBev just behind. PepsiCo is an American company managed from its headquarters in New York; it serves over 200 countries, but is primarily based in North America. PepsiCo’s focus areas are beverages and snacks, their key brands comprising Pepsi Mountain Dew, Lay’s and Gatorade.
Like Nestlé, PepsiCo took a different marketing approach during the pandemic. As soft drink sales plummeted and food and beverage establishments and bars were forced to close, they reigned over their marketing spending – but did so strategically, focusing on campaigns and strategies that produced a good return on investment, even in a lockdown. PepsiCo appears to have absorbed more of its marketing in-house, allowing for lower costs and faster responses. They are also turning to e-commerce – offering bundles of PepsiCo products online and making sure their products are always available.
Anheuser-Busch InBev claims to be the world’s largest brewer, which is confirmed by The commercial research companythe study of Nestlé, whose revenues are preceded only by those of Nestlé and PepsiCo. The company is based in Belgium and was formed in 2008 when InBev acquired Anheuser-Busch. The company focuses on the beer and soft drink market and its main brands include Budweiser, Corona and Stella Artois. It also maintains a strategy of owning and promoting many local brands to appeal to more localized trends and preferences.
Given the essential nature of the food and beverage market, it’s no surprise that its value exceeds $ 6 trillion in 2020, with that market value expected to almost double in the next 10 years until 2030. The growth of the market can be attributed to population growth, higher consumption rates, changing shopping habits as more consumers around the world have access to supermarkets and the top food and beverage industry. constantly expanding range. Although global recessions brought on by the impact of COVID-19 are likely to influence the high-end and luxury segment of the market, a large part of the market is seen as critical and, therefore, consumer demand will continue.
Company revenue is captured from the latest annual reports available at the time of publication and other publicly available sources and allocated to specific markets based on relevant company divisions and analysts’ estimates based on secondary research, industry knowledge and expert interviews conducted by TBRC Consultants.
The research comes from the TBRC Global market model.
The company’s expected revenue is calculated based on the assumption that the company’s market share will remain the same during the forecast period.
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