The global packaged food market size reached US$ 2,105.73 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 3,114.34 Billion by 2027, exhibiting a CAGR of 6.74% during 2021-2027.
Report Attribute
Details
No. of Pages
142
Forecast Period
2021 - 2027
Estimated Market Value (USD) in 2021
$2105.73 Billion
Forecasted Market Value (USD) by 2027
$3114.34 Billion
Compound Annual Growth Rate
6.7%
Regions Covered
Global
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Packaged food refers to convenience food items that are prepared and distributed for consumption. These products can be packed into boxes, plastic containers, and tin cans, depending on their physical forms and textures. Packaging materials offer several benefits, such as barrier and contamination protection, portion control, help retain their shape and quality, prevent spillage and tampering, etc.
In addition to this, they also provide a medium for information transmission, such as expiry date, nutritional content, price and origin of the packaged products, etc. Packaged food products are widely available in supermarkets, hypermarkets, online platforms, retail shops, etc.
Packaged Food Market Trends:
The expanding food retail sector coupled with the rising consumption of ready-to-eat food products is primarily driving the global packaged food market. Additionally, the elevating levels of urbanization, changing consumer dietary patterns, and growing working women population are also augmenting the demand for packaged food items, such as baked goods, snacks, dairy products, noodles, etc.
Moreover, the introduction of numerous initiatives by regulatory bodies, such as the U.S. Food and Drug Administration (FDA), to promote the adoption of clean-label, packaged food products without harmful chemical additives is acting as a significant growth-inducing factor. In line with this, the emerging popularity of on-the-go healthy snacks, including meat snacks, cereals, granola bars, etc., is also propelling the market growth.
Additionally, numerous key players are investing in R&D activities to enhance product shelf-life and launch anti-microbial packaging materials, thereby positively influencing the global market for packaged food items. They are also focusing on the development of lightweight packaging solutions to reduce transportation costs and harmful carbon emissions.
Moreover, the sudden outbreak of the COVID-19 pandemic has resulted in the increasing sales of packaged food items across online retail platforms, especially during the imposition of stringent lockdown regulations. Apart from this, continuous advancements in the packaging technologies for food products, including the launch of biodegradable, nanofabrication, flexible packaging, etc., are expected to drive the global packaged food market in the coming years.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Conagra Brands Inc., Danone S.A., General Mills Inc., Hormel Foods Corporation, JBS S.A., Kellogg Company, Maple Leaf Foods Inc, Nestle S.A, PepsiCo Inc., The Coca-Cola Company, The Kraft Heinz Company, Tyson Foods Inc. and WH Group Limited.
Key Questions Answered in This Report:
How has the global packaged food market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global packaged food market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global packaged food market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Packaged Food Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast
