The leading card networks and issuers continued to convert paper payments in 2025 but also face challenges in an increasingly complex competitive environment. Through acquisitions and investments, the networks have expanded their value-added services for both business and consumer payments, deepened their integration into digital payment channels and enhanced consumer engagement tools. Converting the USD28 trillion in B2B paper payment value offers the single largest opportunity.

Central to maintaining its global leadership in Hotels, Marriott’s global strategy is growth through opening more outlets and leveraging its Bonvoy loyalty platform to drive direct sales to its hotels. We will be exploring how Marriott is increasingly developing mid-market concepts and expanding through conversions. It is also gradually becoming less dependent on the North American market. Marriott is increasingly targeting specific traveller types including but not only outdoor lovers.

On the way to the company’s target of smoke-free products to be accounting for two thirds of PMI’s net revenue by 2030, the figure had reached its highest level to date of 41% in the third quarter of 2025. The smoke-free side of PMI’s business also topped USD3 billion in gross profit for the first time in the same period. In addition to these landmarks, PMI still remains the second biggest player in the traditional combustible cigarette industry, behind only Chinese monopoly CNTC.

Technological advancements will continue to reshape consumer behaviour in 2026. Now in its 10th year, this annual report explores the top shopper trends that will redefine commerce in the year ahead. The trends included in this year’s edition highlight the growing ubiquity of generative AI, the increasing popularity of brand-produced digital entertainment content, the convergence of buy now, pay later (BNPL) and loyalty programmes, and the rise of the personalised digital health solutions market

Japan Tobacco, the fourth largest player in the global nicotine market, continues to place a strong emphasis on its combustibles business, as seen with the October 2024 acquisition of Vector Brands. However, it is also increasingly focussing on smoke-free products, with its next-gen Ploom AURA heated tobacco device, launched in mid-2025, planned to be introduced in around 15 markets by the end of this year.

The report explores how brands are reshaping loyalty into a strategic growth lever. By embedding choice-based rewards, wellness incentive and immersive micro-content into customer experiences, companies convert attention into meaningful engagement, drive repeat behaviour and unlock long-term value across diverse markets.

While traditional combustible cigarettes still make up the bulk of BAT’s sales, the company’s New Categories portfolio continues gaining share in overall group revenues. BAT continues to expand and improve its portfolio of reduced-risk products, leading e-vaping with Vuse, and ranking second in heated tobacco and nicotine pouches. BAT has been adding to its RRPs line-up in 2025 with the Vuse Ultra and glo Hilo premium product launches.

It is a tumultuous time for the world’s leading cooking ingredients and meals company. Market leader Kraft Heinz is preparing to split into two, while many other leading companies look to offload underperforming brands and shift their focus. All are trying to deal with wider pressures such as slow volume growth and consumers shifting towards private label.

The nicotine and cannabis markets continue their evolution and are expected to reach a combined USD1.2 trillion in value by 2029. It becomes critical to separate the noise from actionable insights to clarify which strategies are helping companies and countries worldwide capture opportunities. This report aims to highlight the central issues in the industry, informing equitable conversations and strategies.

China has birthed many of the world’s leading online marketplaces, as well as a wave of fast-growing challengers. Intense competition and slowing growth at home have pushed these retailers to seek new opportunities abroad, but aggressive US trade policies now threaten their expansion. As a result, China-affiliated marketplaces are recalibrating. This briefing examines how these players are navigating a rapidly evolving global trade environment and responding to external pressures.

Among the most pertinent trends in fresh food is the ongoing movement in clean eating, partly driven by the rise of GLP-1 usage in the US. Fresh food producers are thus aligning themselves more closely to wellness and clean labels, partnering with key stakeholders and investing into more premium fresh food segments that can generate greater profit margins. This is further supported by physical retail grocery who are placing their strategic bets on the potential of fresh food.

Fresh food is predicted to exceed 2.3 billion tonnes in 2025 in total volume sales, strengthening growth compared to 2024 despite market uncertainties. Fruits and vegetables remain the largest and two of the leading growth categories as clean label trends develop further into 2025, aligning with the wider values of wellness and sustainability. These are key engines of growth especially in Asia Pacific, which contributes to 67% of global volume sales, driving global momentum up to 2030.

Amid uneven recovery, cost pressures and shifting traveller behaviour, the global travel industry is moving from volume-led growth to value optimisation. Airlines are scaling through network control and premiumisation, lodging growth is concentrating in premium and flexible formats, and intermediaries are evolving into platform-led demand engines. This report examines how pricing discipline, ecosystem control and local execution are redefining competitive advantage across travel.

In a volatile environment shaped by geopolitical tensions, climate change and economic uncertainty, consumers are ever more discerning in their spending, and the apparel and footwear industry is poised for slow growth to 2030.To stay ahead and build resilience, fashion players need to innovate to serve consumers’ growing appetite for wellness, understand the new value equation and the shift towards experientialism and prioritise technological and sustainable investments that deliver clear econom

The snacks industry in 2025 is being reshaped by major mergers and acquisitions, with leading companies driving growth through strategic investments, innovation, and brand reinvestment. Value and sustainability remain central as top players prioritise affordability and operational investments to meet evolving consumer expectations. Meanwhile, health and wellness as well as cultural relevance are becoming increasingly needed to maintain competitive advantage in this challenging environment.

Global soft drinks are undergoing a structural shift, as regional growth patterns diverge, consumer expectations evolve and functionality rises in importance. Markets are seeing affordability pressures balanced by demand for healthier, added-benefit options, while global producers face intensifying competition from both premium innovators and value-driven local players. Channels and formats are adapting, as consumers seek convenience, credibility and better health outcomes.

This report reveals how consumer health leaders are reshaping corporate strategy through M&A, healthspan innovation and supply resilience. It covers premiumisation, science-led credibility, beauty into health convergence, GLP-1 and the impact of longevity, regulatory agility, protein trends, emerging market growth and supply chain transformation, providing actionable insights for product, brand, retail and ingredient professionals seeking to stay ahead in a rapidly evolving market.

This report bring together results from Euromonitor’s Voice of the Industry Survey, fielded in March and October 2025, which tracks sales performance and expectation, innovation initiatives, digital trends and technology investment. It highlights insights from industry professionals to understand short- and long-term business priorities and growth strategies.

In 2026, global business will navigate resilient but restrained growth amid shifting trade, persistent cost pressures, and ongoing geopolitical and climate risks. At the same time, widening consumer divides and the rise of Generation Alpha demand urgent action to secure relevance for the year ahead and beyond.

Global soft drinks growth is increasingly shaped by volatility rather than stability. Affordability pressure, shifting functional expectations, format experimentation and algorithm-driven demand are altering how brands innovate, price and scale. Success depends on flexibility, cultural relevance and the ability to adapt faster than traditional category cycles allow.

Payments and lending is rapidly evolving as innovation from fintech impacts every part of a transaction. Digital currency investment is accelerating as the use cases for them continue to expand, while credit is now projected to become the most used card function by payment value in 2030. Also driving payments are the more than 400 million newly banked consumers and the USD28 trillion in available commercial paper payments.

In 2025, consumers continue to vote with their wallets when purchasing food. Producers face tough headwinds in the form of continued difficulty growing volume sales, population decline and the rise of GLP-1 weight loss drugs. There are pathways to growth, however, with health and wellness demand driving willingness to spend more. This report offers a global overview of the staple foods industry, highlighting major trends, regional shifts, category analysis and key developments.

Hot drinks remains a large, everyday category worth USD201 billion and 640 billion brewed litres in 2025. Value growth is driven more by price and premiumisation than volume, as mature coffee markets plateau while developing regions build scale. The report reviews leading players, rising local brands, slowing but targeted innovation, shifting channels and a forecast for steady, price-sensitive growth to 2030, plus evolving roles for functionality and sustainability.

Amid sluggish growth, inflation, and geopolitical uncertainty in 2025, luxury demand has softened. This report analyses how leading luxury groups are building resilience by strengthening regional strategies, investing in experiential retail, diversifying portfolios, and targeting growth in emerging markets. These strategic shifts are enabling brands to adapt to market pressures and capture new opportunities in a rapidly evolving competitive landscape.