Packaged Food Market Forecast Outlook, Segments Share Analysis, Market Scenario Forecast 2020-2027

  

The global packaged food market size is projected to be valued at USD 4.11 trillion by 2028at a CAGR of 4.52% between 2021 and 2028.

Market Forecast

The global packaged food market size is projected to be valued at USD 4.11 trillion by 2028at a CAGR of 4.52% between 2021 and 2028. Packaged food is food item that are prepared in advance and packed by manufacturers to make it shelf stable. Also, organically certified packaged food is manufactured with organic methods that are free from genetically modified organisms (GMO) and artificial ingredients. Long working hours, traveling time, increasing hectic lifestyle, and changing eating habits of consumers are some of the factors that are responsible for the increasing demand for packaged food. Packaged food brands realized the importance of packaged food beverages in emerging economies. So, manufacturers are focusing on introducing smaller pack sizes at low prices to attract middle class population in emerging economies of Asia-Pacific region. They are also concentrating on attractive packaging with vibrant colors and varieties to attract new consumers and capture the major market share.


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Market USP


Innovations in product flavors


Growth Opportunities in the Market


Demand for organic products:  Consumer awareness regarding the environmental and health impact of chemicals in food items. Due to the increasing awareness regarding the negative impact that chemicals can have on human health, consumers increasingly prefer organically cultivated and processed products. Thus, the global demand for organically produced products is growing rapidly. Along with North America and Europe, the adoption of organic food products is increasing in Asia-Pacific and the Middle East Africa. Consumers in these regions are becoming aware of the benefits of organic packaged food products, which creates a lucrative opportunity for the producers of packaged food.


Growth of the organized retail sector in emerging economies: Economic growth, rising middle class, and high migration rates from rural to urban areas have led to the influx of international retailers in emerging economies. This has encouraged the expansion of existing retail outlets in countries such as India, China, Malaysia, and South Africa, driving the growth of packaged food in the market. In South-East Asia, Singapore is a hotspot for retailers with a preference for one-stop shopping, which is driving the growth of the packaged food market forecast.


Key Players

  • Nestlé SA (Switzerland)
  • Kraft Foods (US)
  • Tyson Foods, Inc. (US)
  • General Mills, Inc. (US)
  • ConAgra, Inc. (US)
  • Kellogg Co. (US)
  • Smithfield Foods, Inc. (US)
  • Mars, Incorporated (US)
  • PepsiCo, Inc. (US)
  • JBS USA Holdings, Inc. (US)

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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