LONDON--(BUSINESS WIRE)--The global food and beverage industry is always changing and adapting. New developments are dominating headlines recently. Details about Amazon acquiring Whole Foods, China’s booming grocery market and a new food labelling law are some of this week’s top stories on BizVibe.
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Amazon buys Whole Foods in a USD 13.7 billion deal
E-commerce giant Amazon just announced its recent purchase of Whole Foods for US$13.7 billion. The acquisition, not only poses the largest acquisition deal for Amazon to date, but also marks Amazon’s latest venture into the grocery and food retailing business, after its ‘Grocery & Gourmet’ segment, AmazonFresh grocery delivery services and Amazon Pantry.
The announcement of this acquisition has already lowered stocks for several major grocery retailers, including Kroger, Walmart, and Costco, whose shares were down by 13.76%, 6.1% and 6.3% respectively. BizVibe believes what the future once held for both online and physical grocery retailers is sure to be transformed because of this impressive push into the market by Amazon.
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3 Main Reasons for China’s Grocery Market Growth
Latest market research studies show that China’s grocery market is likely achieve incredible growth over the next few years. The food and grocery retailing market in China is forecasted to grow at a CAGR of 11.17%, to reach an estimated value of RMB 25,982 billion by 2020. E-commerce for food and grocery is projected to grow at a CAGR of 34% during 2015-2020 period.
Although the overall number of grocery retail outlets is anticipated to decline in China, due to growing pressure caused by rising rental costs and the growth of online grocery retailing, the market value growth is still estimated to be positive, mainly driven by rising disposable incomes with growing demand for healthy and high-quality food products.
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EU Court Changes Labeling Regulations for Soy Foods
Soy Foods News: The EU’s top court has recently ruled that milk and dairy replacements that are being marketed and sold within the EU cannot have the word “milk” or “butter” in their names. This includes products such as soy milk, tofu butter, vegan cheeses, and other soy foods that act as dairy replacements. This decision is reportedly to eliminate consumer confusion.
The market for soy foods is currently thriving in the EU, and is expected to grow at a CAGR of almost 6% over the next four years. The main drivers behind the popularity of these products are a rise in the number of vegan and vegetarian consumers, greater adoption of plant-based diets, and an increase in demand for dairy-free products suitable for consumers with dairy allergies or lactose intolerance.
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