Packaged Food Market Size - By Sales Channel, By Product Type, By Packaging Type- Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global Packaged Food Market Overview:

According to SPER Market Research, the Global Packaged Food Market is estimated to reach USD 3077.52 billion by 2030 with a CAGR of 4.8%.

Food that has been prepared in advance and packaged to extend its shelf life is referred to as packaged food. Foods in packages are easy to handle, prepare, and consume. They are becoming more and more popular since urban inhabitants find them to be so useful in both developed and developing nations. The idea of packaged food came about as a result of factors like simplicity in handling, preparation, and protection from outside meddling. The majority of packaged foods are considered convenience foods and are manufactured commercially before being distributed for consumer consumption. Food in packages is under the category of goods that people commonly buy. Consequently, customers' desire for such products continues to be strong.

The development of processing methods to increase the shelf life of food products is responsible for the expansion of the packaged food sector. A rise in the working population and changes in food consumption patterns are what fuel market expansion. Additionally, the packaged food market is anticipated to expand due to specific customer needs for items like organic food, clean-label food ingredients, vegan food, dairy-free products, and others. The availability of packaged foods has expanded as a result of improvements in retail infrastructure, and this rising ease of obtaining food products, combined with choices for free home delivery and various promotional offers, has contributed to the expansion of the worldwide packaged food market. However, the widespread belief among consumers that packaged goods have negative impacts stunts development and serve as a significant market barrier. The packaged food industry, on the other hand, is being driven forward by ongoing market innovation, which is being supported by increasing customer demand. Cooking a meal from scratch takes far less time and effort when packaged items are used. These factors will cause the demand for packaged food items to grow rapidly over the projected period. The demand for packaged foods is anticipated to increase as consumers' preferences for items with higher nutritional content grow. As a result, a rise in food consumption is encouraging consumers to choose natural food options.

The packaged food market is segmented based on type, sales channel, and region. Based on type, the meat, poultry, and seafood section had the largest share due to the rising popularity of foods high in protein because it is thought to be healthy. Based on sales channel, The fact that these retail formats offer a large range of products and frequently come up with different offers that assist increase foot traffic, hence increasing potential sales of goods, can be used to explain the expansion of hypermarkets and supermarkets in the packaged food sector. However, throughout the projected period, the packaged food market segment for online retailers grew at the quickest rate.

Impact of COVID-19 on the Global Packaged Food Market

COVID-19 had a negative impact on the global packaged food market. Due to the supply chain interruption and decrease in outside-the-home food consumption during the COVID-19 pandemic, packaged food product sales have slightly decreased.

Scope of the report

Market size available for years 2019-2030

Base year considered 2021

Forecast period 2022-2030

Segments covered By Sales Channel, By Product Type, By Packaging Type

Geographies covered: North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Companies Covered Cargill, Incorporated, Conagra Brands, Inc., Danone SA, General Mills Inc., Hormel Foods Corporation, JBS SA, Kellogg Co., Mondelz Global LLC, Nestle SA, PepsiCo, Inc., The Coca-Cola Company, The Kraft Heinz Company, Tyson Foods, Inc., Unilever PLC, WH Groups

Global Packaged Food Market Segmentation:

By Sales Channel: Based on the Sales Channel, Global Packaged Food Market is segmented as; Online Stores, Speciality Stores, Supermarket/Hypermarket, Grocery Stores, Convenience Stores, Others.

By Product Type: Based on the Product Type, Global Packaged Food Market is segmented as; Dairy Products, Beverage, Snacks, Bakery, Breakfast Cereals, Confectionery, Ready Meals, Packaged Produced, Others.

By Packaging Type: Based on the Packaging Type, Global Packaged Food Market is segmented as; Metal Cans, Plastic Packaging, Tetra Pack, Others.

By Region: North America is anticipated to grow significantly over projected period. Because there are so many local players in Europe and North America, these regions are predicted to experience consistent growth over the forecast period.