Pharmaceutical Industry 2023 Outlook

Keep calm and chow on

The global agrifood market has grown significantly, expanding from US$8.28 trillion in 2021 to US$8.67 trillion in 2022. Furthermore, the sector is projected to reach US$9.73 trillion in 2023 and about US$12 trillion by 2027, representing a CAGR of +6% over that span. This growth is driven by a number of factors such as population growth, technological advancements, and also shifting consumer preferences.

Despite the ongoing war in Ukraine has added new challenges and uncertainties to the industry which resulted in declining volumes in both production and sales, the non-reducible nature of food products allowed companies in the industry to compensate lower volumes with higher sales prices. Our latest report dissects into the characteristics of the sector, strengths and weaknesses, sector risks and regional outlook and more. Get your copy today!

key findings in pharmaceutical industry outlook 2023


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