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The developed markets of Europe and the United States account for almost 60 per cent of worldwide food sales, estimated at US$2,850 billion in 2002. However, with many markets reaching maturity, several major manufacturers are now seeking opportunities elsewhere across the globe. In a new report on Emerging Food Markets, Leatherhead Food International reviews key growth areas within the food and drink industry in 27 developing countries located in Central and eastern Europe, Latin America, Africa, India, the Far East and the Middle East.

The last decade has witnessed high levels of growth in the food and drink markets of less well-developed regions, particularly in countries such as China, India and Russia. With a food retail market approaching US$275 billion, China now accounts for almost 10 per cent of worldwide sales, and value sales are expected to reach US$460 billion by 2010. Other countries such as India and Russia are also starting to experience significant growth, and have been highlighted by many of the world’s largest food groups as important markets for the future. As a result, the developing world is likely to increase its share of the global food and drink market. The report mentions a number of different product markets, such as bakery products, confectionery, beer, convenience foods, dairy products, snack foods and soft drinks.