Portland,OR, July 25, 2019 (GLOBE NEWSWIRE) -- According to a recent report published by Allied Market Research, the Global Emergency food market generated $5.17 billion in 2017 and is expected to garner $6.14 billion by 2025, growing at a CAGR of 2.1% during the forecast period, 2018-2025.
The growth of the global emergency food market is driven by uncertain climatic conditions in North America and Asia-Pacific regions, rise in demand for emergency food products from the army sector, and surge om government initiatives and policies on food supply. Additionally, upsurge in consumer preference for natural food products, strategic collaborations with organized NGOs, and increase in the number of millennials are expected to create lucrative opportunities for emerging market players in the near future. However, lower efficiency in distribution channel and unpredictability in the demand-supply side restrict market growth.
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By product type, the non-perishable pasteurized milk segment occupied about one-fifth of the overall market share in 2017. This segment is expected to continue its dominance through 2025, as it has longer shelf life than any other emergency food products and is projected to garner high demand from the commercial and retails sector. However, the dry cereal or granola segment is poised to grow at the highest CAGR of 2.5% during the forecast period, owing to higher preference for cereal as a breakfast food to gain more protein.
Regionally, Asia-Pacific is projected to encounter the highest CAGR of 3.6% from 2018 to 2025, on account of busy lifestyle of the people in the region, growing number of millennial population, and high demand for ready to consume beverage and non-alcoholic drinks. However, North America generated more than two-fifths of the overall revenue in 2017 and is expected to maintain its dominance throughout the forecast period. This is on account of wide range of prices and strategical marketing activities carried out by the market players in the region.
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The key players analyzed in the report include Kraft Foods Group, Inc., Nestle S.A., Kelloggs, General Mills, Inc., Pepsico, Conagra Brands, Inc., Del Monte Foods, Inc, CHB, The Coca-Cola Company, and Princes Limited. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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