"Consumer demand across many food and beverage markets remained relatively muted following recent inflation in many geographies," the group said on Thursday.

It also noted that customer innovation activity across the period was weighted towards renovation of existing products, with an increased focus on nutritional profile enhancement, cost optimisation and improving sustainability characteristics of products.

In its Taste and Nutrition division, the group saw volume growth of 3.4% between July and September, while price decreased by 1.2%.

Business in the group's Americas region rose by 3.7% in the period, underpinned by growth in snacks, bakery and beverage categories, while its Europe market remained more subdued, posting growth of just 0.7%.

Meanwhile, the company reported growth of 5.1% in the Asia Pacific region, with growth in the region up 5.4% so far this year.

In its Dairy Ireland division, Kerry reported 0.4% volume growth, with its earnings before interest, tax, depreciation and amortisation (Ebita) margin expanding by 120 basis points this year. 

"We were pleased with our performance across the first nine months of the year, with continued volume progression through the period, combined with strong margin expansion," said chief executive of Kerry Group, Edward Scanlon.

"Volumes in the retail channel steadily improved through the period, while foodservice continued to deliver strong growth, given our unique positioning as we outlined at our recent investor day."

Mr Scanlon added that the group remains on track to achieve its full year guidance, reiterating its range of 7% to 10% constant currency adjusted earnings per share growth.