2025年三季度餐饮CPG报告（英）

INDUSTRY RESEARCH Food & BeverageCPG Report PE trends and investment strategies Contents PE activity Institutional Research Group 3 Analysis Alex FrederickLead Research Analyst, Agri-foodtechalex.frederick@pitchbook.com 15 DataHarrison WaldockData Analystpbinstitutionalresearch@pitchbook.com Segment data Beverage CPGShelf-stable food CPGFresh-food CPGTobacco & cannabisHealth & wellness Publishing Report designed byJosie Doan Published on November 3, 2025 PE activity Executive summary Q3 2025 marked a notable shift in food & beverage consumerpackaged goods (CPG) PE activity, characterized by fewer butlarger deals and heightened selectivity among investors—with PE firms focusing capital on market-leading platformsand premium assets rather than pursuing volume-drivendeal activity. With an estimated 109 deals, Q3 demonstrateda 20.4% decline in deal count QoQ from Q2’s estimated 137deals. While the five-quarter pattern shows notable volatility, Health & wellness PitchBook Data, Inc. Nizar TarhuniExecutive Vice President of Researchand Market Intelligence Paul CondraGlobal Head of Private Markets Research Additional research Industry research 2025 Foodtech VCEcosystem Overview Q2 2025 FoodtechPublic Comp Sheet andValuation GuideDownload the reporthere Q3 2024 Launch Report: Food& Beverage CPG Q2 2025 Foodtech VC TrendsDownload the reporthere PitchBook, a Morningstar company ©2025 by PitchBook Data, Inc. All rights reserved. No part of this publication may be reproduced in any form or by any means—graphic, electronic, ormechanical, including photocopying, recording, taping, and information storage and retrieval systems—without the express written permission of PitchBookData, Inc. Contents are based on information from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Nothing hereinshould be construed as any past, current or future recommendation to buy or sell any security or an offer to sell, or a solicitation of an offer to buy any