Newark, July 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2,138.5 billion in 2022 packaged foods market will reach USD 3,618.4 billion by 2032. Packaged foods are a convenient and inexpensive choice. They are already cooked, so preparation takes less time. The market is anticipated to expand because of the hectic schedules of working people and students, as well as the changing dietary preferences of consumers toward ready-to-eat food items. The market for packaged foods has grown quickly in recent years. Because of our hectic lifestyles, expanding urbanization, and evolving dietary tastes, there is an increasing need for quick meal options. Customers who enjoy prepared meals are those with limited time or culinary skills. These meals provide a useful solution for persons and families looking for quick and easy supper choices.
Download Report Sample (230+ Pages PDF with Insights) at: https://www.thebrainyinsights.com/enquiry/sample-request/13565
Key Insight of the Packaged Foods Market
Asia Pacific is anticipated to expand at the fastest CAGR of 6.2% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 6.2% over the forecast period. The middle class has grown significantly in the region, increasing their purchasing power and disposable income. As a result, consumers are spending more money on packaged items such as convenience foods, ready-to-eat meals, and snacks. The Asian diet has incorporated snacks as a main meal component. Modern snacks like potato chips, chocolate, and biscuits with traditional snacks like rice crackers, dried fruit, and nuts. The area provides the potential for both domestic and foreign snack companies to meet the wide range of consumer snacking tastes.
In the packaged foods market, the bakery products segment is anticipated to expand at the highest CAGR of 6.7% over the projection period.
The bakery products segment is anticipated to expand at the highest CAGR of 6.7% over the projection period. The bakery industry section provides a variety of snacks, including muffins, cookies, biscuits, and snack bars. There is a chance to create healthier bakery snacks for on-the-go that satisfy consumers' needs for convenience and quantity management. Products with less sugar, whole grains, and substitute components like chickpea flour or ancient grains are included in this. Because intolerances and allergies to foods are becoming more common, there is an increased need for bakery items that are free of gluten and other allergies. Packaged baked products without common allergies including wheat, nuts, dairy products, and eggs are a possibility. This particular market segment can be targeted by creating gluten-free or allergen-free alternatives to conventional bakery goods.
In the packaged foods market, the online segment is anticipated to expand at the highest CAGR of 7.1% over the projection period.
The online segment is anticipated to expand at the highest CAGR of 7.1% over the projection period. Consumers may now buy packaged food from the convenience of their homes via digital marketplaces and e-commerce platforms. Utilizing these platforms allows businesses to access a greater audience, improve brand recognition, and reach a larger client base. Consumers can benefit from the convenience and time savings of online buying. With only a few clicks, they may explore and buy a variety of packaged food items. To appeal to consumers who are busy, businesses should highlight the convenience element in their online marketing campaigns.
Inquiry Before Buying: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13565
Packaged Foods Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 3,618.4 Billion |
| Market size value in 2022 | USD 2,138.5 Billion |
| Expected CAGR Growth | 5.4% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | ConAgra Foods,Frito-Lay,JBS Food,Kellogg's,Kraft Food, Inc.,Mann Packing Co., Inc.,Mars, Inc.,Misionero,Nestlé,Ready Pac Foods,Smithfield Food, Inc., LLC,Tyson Foods |
| Segments Covered | Product, Distribution Channel |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Market Dynamics
Driver
Growing disposable incomes around the globe have increased purchasing power and prompted a rise in the use of convenience meals. Consumers are willing to spend more money on packaged meals that offer convenience, flavor, and quality when their disposable income increases. Additionally, businesses in the packaged food industry constantly innovate to satisfy customer tastes and want. To draw customers in, they provide fresh flavors, healthier alternatives, and distinctive package styles. Product innovation increases customer interest and broadens the range of available alternatives, which promotes market expansion.
Opportunity
Direct consumer communication channels have become more prevalent because of the expansion of e-commerce. Companies can utilize online marketplaces to sell packaged foods, expanding their consumer base and enhancing customer convenience. Better customer interaction, feedback, and customization are also possible with D2C models.
Browse the full report with Table of Contents and List of Figures: https://www.thebrainyinsights.com/report/packaged-food-market-13565
Some of the major players operating in the seafood market are:
• ConAgra Foods
• Frito-Lay
• JBS Food
• Kellogg's
• Kraft Food, Inc.
• Mann Packing Co., Inc.
• Mars, Inc.
• Misionero
• Nestlé
• Ready Pac Foods
• Smithfield Food, Inc., LLC
• Tyson Foods
Key Segments cover in the market:
By Product
• Dairy Products
• Beverages
• Bakery Products
• Breakfast Products
• Meals
• Others
By Distribution Channel
• Supermarkets/hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others
About the report:
The market is analyzed based on value (USD Million).All the segments have been analyzed global, regional, and country basis.The study includes the analysis of more than 30 countries for each part.The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight.The study includes Porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
