The global food and beverage market has been shrinking, says Nestle

Global food and beverage company, Nestle has reported a decline in the total amount of food and drink sold globally since the beginning of the year.

Its CFO says the trend poses a challenge for the sector with factors such as changing consumer habits and shifts in eating patterns contributing to the decline. He adds that large consumer goods companies have managed to boost sales through price increases, Nestle shares have dropped about 4 percent just this year.