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Packaged food market worth USD 4.11 trillion by 2028 at

New York, U.S., Nov. 16, 2022 (GLOBE NEWSWIRE) — Overview of the packaged food market

According to a comprehensive research report by Market Research Future (MRFR), “packaged food market Information by product type, category, distribution channel and region – Forecast to 2028“; the market will reach $4.110 billion by 2028, at a CAGR of 4.52%.

Market summary

Foods planned and packaged to extend their shelf life are called packaged foods. Most packaged foods are considered convenient and commercially manufactured before being distributed to consumers. Packaged foods came from simple handling, preparation, and protection from outside interference. Packaged foods are easy to handle, serve and consume. Due to features like accessibility, portability and ready-to-eat status, packaged food products are gaining popularity especially among urban residents. At the same time, the market is experiencing increased consumption of dairy products and confectionery.

Food products, such as milk and bread, are protected against UV rays by revolutionary packaging materials, including a layer of metal with a specific coating or a packaging material stamped in black ink. In recent years, packaged foods have become increasingly popular due to their hygienic qualities. They are becoming increasingly popular since city dwellers find them so useful in both developed and underdeveloped countries. Some packaging, for example, uses oxygen absorbers to remove or significantly reduce the amount of oxygen in food products. The removal of oxygen helps prevent the food product from oxidizing and developing a brown color. In addition to technical advancements, the industry has seen a surge in demand for ready meals globally.

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Report Scope:

Report attribute Details
Market size in 2028 $4.11 trillion
CAGR 4.52%
base year 2020
Forecast period 2021-2028
Historical data 2019
Forecast units Value (trillions USD)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By product type, category, distribution channel and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Increase in demand for ready meals
increased demand for fortified foods

Market Competitive Landscape:

The stellar competitors in the packaged food market are:

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

Covered USP market:

Market factors:

The development of processing methods to increase the storage period is responsible for the expansion of the packaged food sector. Additionally, the global increase in the working population and changes in food consumption behaviors are fueling the expansion of the market. The availability of packaged foods has increased with improved retail infrastructure, and this increasing ease of obtaining food items, combined with free home delivery choices and various promotional offers, has helped expanding the global packaged food market. The major driver for the development of the global packaged food market is the growing consumer awareness of the value of hygienic food.

The opportunity for industry players has increased due to the growing demand for plant-based products brought about by the growing vegan population in the country. The demand for organic, wholesome, clean and wholesome products has recently increased among environmentally and health conscious people who are less price sensitive. The organic category is evolving into a mundane food category as the organic trend in the food and beverage industry continues to increase. Additionally, consumers want more visibility into the product’s supply chain and place of origin. Since packaged foods like rice, pasta, noodles, snacks, and canned foods have a long shelf life, consumers prefer to store them, which boosts their sales.

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Market constraints:

However, the widespread belief among consumers that packaged products have negative effects is hindering development and is a significant market barrier.

COVID 19 analysis

The COVID-19 pandemic has hampered the expansion of the packaged food market. Government-mandated shutdowns and strict social distancing laws have resulted in the permanent or temporary closure of manufacturing facilities. This has had a detrimental influence on the market and the demand for packaged food products. However, it is expected that the demand for the products will increase again and support the expansion of the packaged food sector due to the introduction of vaccines and a decrease in cases. There is currently a food shortage due to excessive accumulation of packaged food, which is considered a serious problem. However, after the COVID-19 pandemic, this increase in demand for packaged food will diminish. Some food manufacturing companies are adding workers to meet demand.

Market segmentation

By category, the market includes conventional and organic. By product type, the market includes ready meals, instant noodles and pasta, bakery products, confectionery, grains and cereals, sweet and savory snacks, dried fruits, baby food and nutrition infant formula, soups, sauces, dairy and frozen desserts, vinaigrettes and condiments, beverages. By distribution channel, the market includes in-store and non-store.

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Regional outlook

Due to major players in countries like China and India, the Asia Pacific region is expected to overtake all others as the packaged food market leader in the coming years. Due to numerous local players, Europe and North America are expected to experience steady growth over the projected period. Additionally, the growth of the packaged food market is expected to be driven by technological developments in processing methods designed to increase the shelf life of each product. Packaged food products are simple to use and less likely to be tampered with or adulterated. These factors can drive product demand and support the packaged food industry.

Due to increasing consumption of packaged foods across various demographic segments in countries like the United States and Canada, North America is expected to provide lucrative growth opportunities for the global packaged food market. Due to major research and development efforts to manufacture higher quality products in countries like the UK and Germany, Europe is expected to experience significant growth in the packaged food market. On the other hand, the packaged food sector is propelled forward by continued business expansion, supported by growing consumer demand. Furthermore, the packaged food sector is expected to grow due to specific consumer demands for organic products, clean label foods, vegan dishes, dairy-free products and others.

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