Between them, France and Italy are home to a fifth (20%) of all the food and beverage companies in the EMEA region, while four countries – France, Germany, Italy and Spain – account for 58% of the total market value.
That's according to a new report, The State of the Food and Beverage Industry, by RS Group in partnership with We Live Context, which seeks to 'unpick the unique challenges and opportunities' open to food and beverage firms across Europe, the Middle East and Africa.
According to the report, the increase in global population is set to result in a 50% increase in global food demand by 2050, which in turn will create opportunities for the circa 278,000 food and beverage companies operating in Europe.
'Capacity For Innovation'
“With capacity for innovation and the opportunity to adopt new technologies, expand market share and steal a march on incumbent players in more developed nations, there is significant potential for growth in other markets across Europe, Middle East and Asia Pacific in the coming years," commented James Bullion, EMEA industry sector director, RS Group.
The report outlines the ongoing challenges faced by food and beverage businesses, particularly in navigating an unpredictable regulatory landscape, while growing requirements when it comes to sustainability, efficiency and technology are also weighing on firms.
'Multiple Challenges'
"Food and beverage companies face multiple challenges, from regulatory compliance and ESG reporting to improving operational efficiency and product innovation," added Bullion.
"Technology offers new opportunities to address these challenges, and those who embrace digital transformation will be better positioned to succeed in the future."
