Frost & Sullivan: Asia Pacific's food industry demand to surpass North America and Europe combined by 2014

Frost & Sullivan: Asia Pacific's foodFrost & Sullivan: Asia Pacific's food industry demand to surpass North America and Europe combined by 2014 PR Newswire SINGAPORE, Jan. 21, 2014 ~ The APAC region food industry is fastest growing, and will hold 33% market share in 2014 The Asia Pacific region's food industry is one of the fastest growing and is expected to hold a 33% market share in the global food and beverage market in 2014. This is due to key megatrends such as increased urbanisation, increasing need for health and wellness solutions and the growing sensitivity to food safety; all of which will influence consumer behaviour and directly impact growth and performance of Asia Pacific's food industry. "The Asia Pacific region encompasses a varied range of countries that differ in culture, cuisine, language and the degree of economic development. Despite their differences, the food industry in the region has been growing persistently even through the 2008/2009 economic downturn. Asia Pacific's food industry is projected to be a key economic driver as demand for food and beverage is expected to surpass the combined demand of North America and Europe by 2014," said Natasha D'Costa, Research Manager, Asia Pacific, Frost & Sullivan. "The key product growth areas within the Asia Pacific will be in beverages, dairy and the fortified commodities markets," noted D'Costa.