Pune, India, June 14, 2021 (GLOBE NEWSWIRE) -- Packaged Food Market Overview:
As per estimates released in a recent report by Market Research Future (MRFR), the Packaged Food Market Size is anticipated to reach about USD 4.11 trillion by 2028, at a 4.52% CAGR from 2021- 2028.
The demand for packaged food has reached a new level with the surge in work in from home situations globally in the course of the lockdowns imposed as a result. The call for packaged food is escalating due to consumer predisposition toward convenience food products as they are easy to procure and make. With altering urban routines and progressing dietary patterns, packaged food plays a critical role in outlining the consumers' food selections in recent times. Packaged food items are generally prepared in advance and packed in containers that are then retailed through retail channels.
Market Insights
Individuals have always bought food from creameries, bakeries, and other processors throughout the past to save time and effort. The first instance of society relying on packaged food comes from the Aztec community of Central Mexico, who employed several convenience foods that needed only water for preparation, which travelers used. Cornmeal was one of the popular packaged food options prepared by being ground and dried and was referred to as pinolli. Explorers use it as convenience food in this form. Another one of the initial industrial-scale processed foods was the meat-packing business, which gained momentum after developing a refrigerator car system in 1878 which enabled the delivery of meat products to consumers miles or kilometers away. World War II played a notable role in the progress of frozen foods and the frozen food business. The focus of packaged food in present times is focused on preference for natural, whole, fresh, and organic food. The companies in the market for packaged food responded by offering nourishing formulations and started purchasing brands with better reputations related to healthy food.
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Key Players:
The promising companies in the packaged food market are:
- Smithfield Foods, Inc. (US)
- Kraft Foods (US)
- Tyson Foods, Inc. (US)
- ConAgra, Inc. (US)
- Nestlé SA (Switzerland)
- Kellogg Co. (US)
- Mars, Incorporated (US)
- PepsiCo, Inc. (US)
- General Mills, Inc. (US)
- JBS USA Holdings, Inc. (US)
Avient has presented Nofog Plus, the next generation of its anti-fog preservative CESA to meet the mounting request for ready-to-cook and take-out foods. The product was revealed recently, and it reduces moisture accumulation; CESA Nofog Plus also helps extend the shelf life of packaged foods. It can remove fogging directly in hot conditions and minutes in cold situations. Lids and protective films formed with this foodcontact–safe additive also remain vibrant so that customers can detect the food quality. The CESA additive can be consumed in rigid and flexible food packaging, comprising mono- and multilayer structures. It is appropriate for thermoformed sheets as well as see-through food packaging and protective and agricultural films.
Browse In-depth Market Research Report (90 Pages) on Packaged Food: https://www.marketresearchfuture.com/reports/packaged-food-market-10540
The impetus behind the campaign to eat more whole foods and less processed foods is clearer than ever. Packaged foods are often getting a bad rap for their extended ingredient lists that include trans fats and sodium, but not all packaged foods are being produced with apathy towards the ideals of health and nourishment. More healthy choices are available nowadays than a few years ago, credited mainly to health-minded customers who value quality and required convenience. Unilever has entered into an agreement to obtain US supplements business Onnit for a classified amount. Onnit is a holistic wellness and lifestyle company. Also, it offers a variety of packaged food products, counting Fatbutter nut spreads and snack lines such as Protein Power Puffs and Protein Bites. Its products which also consist of sports nutrition supplements such as glutamine and creatine, and products to assist sleep, are found in stores together with Whole Foods Market and Sprouts, and Amazon who also sell them.
Though, the packaged food industry does face certain interferences to its progress. The low availability of raw materials as certain crops are seasonal and thus is causing a delay in the whole process, which can be costly. Farmers need investment in gear and fertilizers to develop the quality of their harvest. In many circumstances, there is an absence of storing infrastructure, which causes food wastage and loss. Furthermore, there are certain rural areas with poor connectivity to locations where food processing units are located. As a result, the crop takes a lot of time to arrive at these units, again leading to a lot of waste. Finally, there is an urgent necessity to accept technology as much of the harvest is reviewed by hand, and farmers fall behind in the competition with the worldwide market.
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Regional Analysis:
The European packaged food market governed the global market in 2020 and is also anticipated to govern the market in the forecast period. The buyer inclination toward intermediate snacking is predicted to help the necessity for the packaged food market. Furthermore, the growing food industry and a wide variety of products by numerous producers further propels the development of packaged food market. Additionally, producers are focusing on intensifying their product selection to capture the regional market.
Apart from the demand for packaged food demand in North America and Europe, the acceptance of organic food products is snowballing in the Asia Pacific and the Middle Eastern & African region. Customers in these regions are becoming knowledgeable of the advantages of organic packaged food products, which is creating a rewarding prospect for packaged food producers. Expanding middle class, monetary growth, and elevated migration rates from rural to urban areas have directed the entry of international retailers into developing economies. This has fortified the development of current retail outlets in nations such as India, Malaysia, China, and South Africa, which are motivating the development of packaged food in the market. In the region of South-East Asia, Singapore is a hotspot for stores with a fondness for one-stop shopping, motivating the progress of the packaged food market.
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