PUBLISHER: Polaris Market Research | PRODUCT CODE: 1175623
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1175623
The global packaged food market size is expected to reach USD 3,588.3 billion by 2030, according to a new study by Polaris Market Research. The report "Packaged Food Market Share, Size, Trends, Industry Analysis Report, By Product Type (Bakery Products, Dairy Products, Breakfast Products, Meals, Beverages, and Others); By Distribution Channel; By Packaging Type; By Region; Segment Forecast, 2022-2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Escalating the expansion of e-commerce across the globe, the hectic life and work schedules of consumers, and rapid growth in the demand and need for organic, clean, natural, and whole-food product are major reasons propelling the growth of the global market. In addition, the groundbreaking innovations of various market companies to introduce improved and enhanced food products to the market for gaining consumer traction and consolidating their market position, are also likely to augment the growth of the market over the coming years. For instance, in April 2022, Hormel Foods, introduced Hormel, plant-based chili with beans. The product caters to plant lovers & chili enthusiasts. The product is currently available on Amazon and will come to many other retailers soon.
The importance of hygienic foods is significantly increasing and shifting in the favor of hygiene and various healthcare products. Packaged foods usually go through various stringent regulations & quality checks in which products are becoming ultimately safe and hygienic to consume. In addition, such foods gaining importance among the urban millennial population, owing to their ready-to-eat, easy transportation, and easy handling advantages, coupled with the rapid change in the standard of living in these areas, which are expected to positively impact the growth of the market.
The outbreak of the COVID-19 pandemic has positively impacted the growth of the packaged food market. During the pandemic, many countries implied lockdowns and strict regulations on movements which have resulted in the panic purchase of packaged food products leading to the rapid growth in demand. However, sales of beverages through various on-trade channels have declined slightly, as a result of the loss of businesses from temporary closures of restaurants, pubs, and bars across the world.
Packaged Food Market Report Highlights
Beverage segment accounted for substantial global revenue share owing to the availability of a variety of flavors, attractive packaging, and high adoption as a sports and nutritional drink around the world
Online segment is witnessing the fastest growth rate over the forecast period on account of high growth in the number of mobile phone users and the emergence of various online shopping channels
Plastic packaging held a significant revenue share in 2021, which is mainly driven by easy availability, lightweight, and ability to easily withstand plastic
Asia Pacific is expected to grow at a significant CAGR during the projected period due to evolving consumer lifestyles, increased disposable income, and easy availability of these products from both online and offline channels
The global players include Nestle, Hormel Foods, Tyson Foods, General Mills, and Coca-Cola Company
Polaris Market Research has segmented the packaged food market report based on product type, distribution channel, packaging type, and region:
Packaged Food, Product Type Outlook (Revenue - USD Billion, 2018 - 2030)
Bakery Products
Dairy Products
Breakfast Products
Meals
Beverages
Others
Packaged Food, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Supermarkets/Hypermarkets
Convenience Stores
Online
Others
Packaged Food, Packaging Type Outlook (Revenue - USD Billion, 2018 - 2030)
Plastic
Tetra Pack
Metal Cans
Others
Packaged Food, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Figure 1. Global Packaged Food Market, 2018 - 2030 (USD Billion)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Approach
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Distribution Channel
Figure 7. Global Packaged Food Market, by Distribution Channel, 2021 & 2030 (USD Billion)
Figure 8. Market by Product Type
Figure 9. Global Packaged Food Market, by Product Type, 2021 & 2030 (USD Billion)
Figure 10. Market by Packaging Type
Figure 11. Global Packaged Food Market, by Packaging Type, 2021 & 2030 (USD Billion)
Figure 12. Packaged Food Market Assessment, By Geography, 2018 - 2030 (USD Billion)
Figure 13. Strategic Analysis - Packaged Food Market