New York, USA, June 13, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global packaged food products market is anticipated to generate a revenue of $34,434.6 million and rise at a CAGR of 6.03% during the forecast timeframe from 2022 to 2030.
As per our analysts, the rapid increase in the number of working people and their hectic time schedules has increased the demand for ready-to-eat healthy packaged food products worldwide, which is expected to amplify the growth of the packaged food products market over the analysis period. Besides, the increasing awareness of healthy food sources and sustainability among well-informed consumers is further expected to upsurge the growth of the market during the estimated timeframe. Moreover, the technological advancements to provide healthy packaged food alternatives with low cholesterol, rich nutritional value, low fat, and fewer preservatives for millennials are expected to fortify the growth of the packaged food products market over the forecast period. However, the high risk of contamination of food due to packaging materials may impede the growth of the market throughout the analysis period.
Download an Exclusive PDF Sample of Packaged Food Products Market@ https://www.researchdive.com/download-sample/8397
Segments of the Packaged Food Products Market
The report has divided the market into various segments based on product, packaging type, sales channel, and region.
Product: Cheese Sauce and Dips Sub-Segment to be Most Profitable
The cheese sauce & dips packaged food products sub-segment is expected to generate a revenue of $22,056.8 million during the forecast period. This is mainly because of the more consumption of cheese, sauce, and dips in the European countries. Moreover, the increasing demand for fast food options, such as pizzas, tacos burgers, and many more are predicted to bolster the growth of the sub-segment over the estimated period.
Packaging Type: Jars Sub-Segment to be Most Beneficial
The jars sub-segment is projected to garner a revenue of $16,882.1 million during the analysis period. This is mainly because of the non-corrosive nature and high physical appeal of glass jars. Furthermore, the increasing demand for glass jar packaging to increase the shelf-life of the food, maintain the texture, flavors, and aroma of food, and attract consumers with visual delight is expected to fuel the growth of the packaged food products market’s sub-segment during the forecast period.
Sales Channel: Retail Sub-Segment to be Most Productive
The retail sub-segment is predicted to generate a revenue of $23,156.6 million over the analysis timeframe. This is majorly due to the increasing trend of purchasing packaged food products among consumers from retail and convenience stores. In addition, the exciting offers and fascinating discounts provided by the retail stores allure consumers to purchase food products of their choice is expected to propel the growth of the market sub-segment during the estimated period.
Region: North America Region to Hold the Maximum Share of the Market
The North America region of the packaged food products market is predicted to garner a revenue of $10,192.6 million and grow at a CAGR of 5.48% over the forecast timeframe. This is mainly due to the busy work-life schedules of individuals and the growing preference for ready-to-eat food among consumers in this region. Moreover, the increasing demand for innovative and variety of snacking options with healthy ingredients and organic-based food products in this region is expected to drive the regional growth of the market throughout the analysis period.
Get Data As per your Format and Definition of the Packaging Food Products market@ https://www.researchdive.com/request-for-customization/8397
Covid-19 Impact on the Packaged Food Products Market
The outbreak of the Covid-19 pandemic has devastated several industries, however, the packaged food products market has experienced an unexpected growth during the pandemic period. This is mainly due to the increase in the consumption of chips, chocolates, snacks and beverages, and various frozen food product among individuals to satisfy their cravings along with work-from-home facilities. Moreover, due to the stringent regulations on transport imposed by the governments of many nations and less availability of food products, people changed their shopping behavior and started buying packaged food products in bulk. All these factors have inclined the growth of the market during the forecast period.
Key Players of the Packaged Food Products Market
The major players of the packaged food products market include
- The J.M. Smucker Co.
- Conagra Brands
- Andros Foods
- Gehl Foods, LLC.
- Histon Sweets Spreads Limited
- Tree Top
- B and G Foods, INC., and more.
These players are broadly working on the development of new business tactics such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
Check out with our Expert Analyst for More Global Insights of the Packaged Food Products Market@ https://www.researchdive.com/connect-to-analyst/8397
For instance, in January 2022, SABIC, a leading Saudi chemical manufacturing company, Ella’s Kitchen, a renowned UK-based baby food brand, and Gualapack, a leader in the flexible packaging industry, collaborated to create a new cap for food packaging by using recycled plastics. This new collaboration will be beneficial to the ecosystem of food packaging and lower the environmental impacts by stepping toward a circular economy for the used plastics.
In addition, the report also presents other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic developments.
More about Packaged Food Products Market:
- Global Packaged Food Products Market Growth to Swell with Rising Demand for Packaged Foods among Working Consumers
- Which Revolutionary Packaged Food Strategies are Emerging in 2022?
