Global Packaged Food Market is forecast to generate a revenue of USD 4 Trillion by 2027, registering a CAGR of 4.5% during the forecast period (2020-2027), owing to the expansion of food retail industry and growing consumption of ready to eat food products.

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The packaged food market is projected to gain immense traction over the upcoming years on back of the surging demand for convenient food, rapid urbanization, changing customer preferences, and improving living standards. Moreover, increasing inclination towards veganism diet in order to maintain good health and growing emphasis on packaging and labelling are projected to pave the way for market. In addition, the ongoing advancements in the packaging technologies for food products, such as the launch of nanofabrication, biodegradable, anti-microbial packaging materials, flexible packaging, will stimulate the market growth over the upcoming years.

With the accelerating working population and hectic lifestyles, the demand for on-the-go healthy snacks, such as meat snacks, cereals, granola bars, etc., has bolstered. Thus, in order to cater the growing demand, several leading market players have invested in the research and development to improve the product shelf-life, which will offer enormous opportunities to the market. The players are also emphasizing on the introduction of lightweight packaging solutions to minimize transportation costs and harmful carbon emissions. In addition, the growing demand for packaged foods quick-service casual restaurants and increasing use of case-ready packaging has strengthened the market growth. Furthermore, the inclination towards healthy foods with low-calorie, natural ingredients, low-fat, and free from artificial color, sugar, and GMO has supplemented the growth of packaged food industry. However, the increasing emphasis on product manufacturing and packaging solutions is likely to hamper the global packaged food market growth over the forecast period.

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Product Segment Analysis

Breakfast cereals are projected to witness a faster growth over the upcoming years, owing to the growing health awareness and easy accessibility of breakfast cereals across the departmental stores, pharmacy, and convenience stores. The growth of the breakfast cereals is attributed to the changing food habits and growing impact of western culture on the dietary patterns of consumers. Also, the inclination of consumers’ towards consuming nutritious and healthy food on a regular basis and strong expansion of convenience stores that promotes brand visibility are anticipated to expand the market growth.

Distribution Channel Segment Analysis

Supermarkets and hypermarkets are expected to witness a faster CAGR over the upcoming years, as these mass merchandisers provide an easy one-stop shopping destinations to purchase packaged foods such as bakery products, dairy products, and others. Moreover, these retail stores offer a wide variety of products and various attractive offers to increase foot fall, thereby, increasing potential sales of goods.

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Regional Analysis

Asia Pacific is estimated to witness a faster CAGR over the upcoming years, primarily because of the rapid urbanization, rising health awareness, and accelerating disposable income. The easy availability of packaged food items in rural areas, will bolster the regional growth. Further, the growing emphasis of leading players operating in the Asian market on the product advancements to meet the demand for nutritious and healthy products will strengthen the regional growth. Moreover, the introduction of exclusive products by leading producers and increasing health awareness among consumers has paved the way for China’s packaged food market.

North America is estimated to hold a larger share over the upcoming years, owing to the growing demand for non-synthetic ingredients in the packaged foods. With the increasing hectic schedules, consumers are inclined towards prepared ready-to-eat food products instead of traditional meals, driving the regional expansion.

The key players operating in the market include Tyson Foods, Inc, Kraft Foods Group, Nestle S.A, General Mills, Inc., ConAgra, Inc., Smithfield Food, Inc, Kellogg NA Co, JBS Foods S.A, Hormel Foods Corporation, and Maple Leaf Foods, Inc.

Key Developments:

• • In 2021, General Mills introduced eight new varieties of ready-to-eat cereals to expand its product portfolio, in order to fulfil the demands for different segments of customers, including kids and keto person. The company also launched an innovative packaging inspired by superhero series.
  • In 2020, Kellogg’s entered in a partnership with Blippar, to develop the first web-based Augmented Reality promotional campaign in the Middle East, which included the United Arab Emirates. Kellogg stood to be the first brand in the GCC region to pioneer WebAR technology across a multi-channel marketing campaign for its Coco Pops cereal brand.
  • In 2020, Mondelez India introduced Bournvita Fills to enter breakfast cereals space. The main intent of this development was to help company expand its product portfolio in the region.

The global packaged food market has been segmented on the basis of product, and region. Based on product, the market is segmented into ready meals, baked foods, breakfast cereals, soups, baby food, potato chips, nuts, instant noodles, pasta, biscuits, chocolate confectionary, cheese, yogurt, ice creams, sauces, dressings & condiments, and non-alcoholic drinks. Based on region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

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Key questions answered in this research report:

• • At what pace is global packaged food market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in packaged food market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global packaged food market?
  • What are the various products of cooling methods of global packaged food market and how they are poised to grow?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Packaged Food Market by Product

• • Ready Meals
  • Baked foods
  • Breakfast cereals
  • Soups
  • Baby Food
  • Potato Chips
  • Nuts
  • Instant Noodles
  • Pasta
  • Biscuits
  • Chocolate Confectionary
  • Cheese
  • Yogurt
  • Ice Creams
  • Sauces, Dressings & Condiments
  • Non-alcoholic drinks

Global Packaged Food Market by Region

• • North America Packaged Food Market (Option 1: As a part of the free 25% customization)

• • • By Product
    • US Market All-Up
    • Canada Market All-Up

• • Europe Packaged Food Market (Option 2: As a part of the free 25% customization)

• • • By Product
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Packaged Food Market (Option 3: As a part of the free 25% customization)

• • • By Product
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Packaged Food Market (Option 4: As a part of the free 25% customization)

• • • By Product
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Packaged Food Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice

• • Tyson Foods, Inc
  • Kraft Foods Group
  • Nestle S.A
  • General Mills, Inc.
  • ConAgra, Inc.
  • Smithfield Food, Inc
  • Kellogg NA Co.
  • JBS Foods S.A
  • Hormel Foods Corporation
  • Maple Leaf Foods, Inc