Food & Beverages

The food and beverages industry is derived from agriculture. The industry is much more focused on technology and mechanical conversion of raw foods or agricultural produce to create more value-added food products. Food distribution is also an important segment of this industry. It involves packaging and distribution of food products to consumers. Other important segments of this industry include oils and fats, food additives, preservatives , functional foods and beverages, packaged and canned foods, health and natural foods, baked food, baby food, animal food, soft drinks and energy drinks. The industry is driven primarily by consumer demand which is focussed more towards nutritious and healthy food and better packaging, this also leads to innovation and technological advancement. Technologies such as pasteurisation, high-pressure processing, UV treatment, and nanotechnology are increasing being adopted by the global food and beverage companies. The growth of food and beverages industry is higher in countries such as India, China, and Brazil, as more people are lifted into the middle class on account of economic growth. The food and beverage industry players are going through a period of transition and challenge on account of shrinking margins and lower growth due to the impact of lockdown due to Corona Virus. Companies are adopting digital transformation strategies for reducing costs and improving profitability.