Published on 6 Nov 2022 on Insider Monkey via Yahoo Finance

15 Largest Food and Beverage Companies in the World in 2022

In this article, we will be taking a look at the 15 largest food and beverage companies in the world in 2022. To skip our detailed analysis, you can go directly to see the 5 largest food and beverage companies in the world in 2022.

The biggest food and beverage companies in the world in 2022 are mostly full of household names. The global food and beverage industry is worth trillions of dollars and grew from $5,818 billion in 2021 to jump to $6,327 billion in 2022 at a very decent compound annual growth rate (CAGR) of 8.7%. Despite facing several issues which we'll discuss in a moment, the industry is expected to grow to $7,942 billion by 2026 at a CAGR of 5.8% according to the Business Research Company.

The food and beverage sector was quite badly impacted by the coronavirus pandemic which engulfed the world in 2020. Most restaurants and bars were closed immediately and were among the last to open after restrictions were ended in most countries. Furthermore, the global supply chain was significantly affected as well, affecting the operations of most major corporations and especially those with international operations. According to a report by Deloitte, food and beverage companies faced lower consumptions during the pandemic even as at-home consumption increased, which typically has lower margins. Even though out of home consumption has now increased, it is still not at levels before the pandemic as many potential customers now prefer at-home consumption mainly for comfort reasons.