Advancements in Food and Beverage
The Food and Beverage (FAB) industry is one of the highest paid industries in the hospitality service sector. The food and beverages industry is all companies involved in processing raw food materials, packaging, and distributing them. This includes fresh, prepared foods as well as packaged foods, and alcoholic and non-alcoholic beverages. Any product meant for human consumption is the part of FAB industry.
The global food and beverage industry is growing at around 5% a year and global expenditure on food products by consumers is expected to reach US$20 trillion by 2030. Key trends for new product development are in health, convenience, naturality and sustainability. New foods based on fruits and vegetables fulfil many of the demands of the premium consumer. The intrinsic “health halo” of natural produce make ingredients derived from fruits and vegetables highly sought after in the global marketplace.