Food Industry
Food is an essential part of our lives, which is why the way it is grown, processed and transported is worth understanding and improving. Broadly, the food industry comprises a complex network of activities pertaining to the supply, consumption, and catering of food products and services across the world. Finished food products and partially prepared instant food packets are also a part of the food industry. The food industry employs a massive number of skilled and unskilled workers. In 2006 alone,the food industry accounted for over 1.5 million jobs in the US and 4 million jobs in Europe. However, the food industry excludes subsistence farmers who use their produce for self-consumption.
Components of Food Sector
The food industry is highly diverse and comprises several important components. Each component adds distinct value to the whole food chain by improving sustainability and producing better products.
The varied activities of the food sector are classified as follows: Agriculture activities for growing crops, raising livestock, sea food , Food processing of fresh products into canned and packed goods (including frozen foods), Research and development on food technology, Manufacturing fertilizers, farm machinery and hybrid seeds to facilitate agricultural production, Regulation on food production and distribution to ensure quality and safety, Financial services including insurance and credit to facilitate food production and distribution, Marketing, packaging, advertising and distribution (wholesale and retail).
A number of factors heighten the demand in the global food industry such as the population levels, wealth distribution, health awareness and types of varied lifestyles. The food supply drivers include the quality of the supply chain, level of competition in the industry and the composition of the target
consumers.
