Delhi, Jan. 27, 2022 (GLOBE NEWSWIRE) -- A study, recently conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global pasta and noodles market was worth USD69.3 Billionin the year 2020. According to the study, the market is further estimated to grow at a CAGR of 3.9%, earning revenue of around USD89.5 Billion by the end of 2027.The availability of a wide range of pasta & noodles in the market is one of the major factors driving the growth of the market. The market for pasta & noodles is also growing due to natural additives used in some varieties, along with the quality of their instant preparation. Also fueling the market growth are the use of natural additives in certain varieties of pasta & noodles, and the quality of their instant preparation. Furthermore, the availability of healthier kinds of pasta & noodles, their excellent shelf life, and the increasing disposable income of consumers are also causing the market to grow. However, strong competition and the pandemic are restraining market growth, affecting production, and reducing demand. Additionally, due to changing lifestyles, consumers have become more health-conscious and switching to healthier and organic products, which is limiting the growth of the global pasta & noodles market.
Growth Drivers
Rising demand for instant food
The need for instant meals is increasing as a result of changing lifestyles and food cultures, propelling the global pasta& noodles market forward. The increasing number of working professionals across the globe and the preference for spending less time on cooking has influenced the growth of the global pasta & noodles market. Moreover, consumers are shifting toward ready-to-eat meals due to their hectic lifestyles, which in turn is driving the market growth. A familiar, healthy, and convenient food, the demand for pasta, particularly vermicelli, fusilli, and macaroni, is therefore witnessing substantial growth.
Launch of a wide range of new products
The launch of a wide range of new pasta & noodles products is among the factors contributing to the market's growth. In order to meet the growing demands of consumers, new pasta products are launched on a regular basis. As a result of these new launches, the companies are increasing their customer base and also retaining customers. Thus, the launch of a wide range of new products is contributing to the growth of the global pasta & noodles market.
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Restraints
High amounts of carbohydrates present in pasta & noodles can affect an individual’s blood sugar levels. Moreover, regular consumption of noodles &pasta made with all-purpose flour can also be detrimental to health. Consuming large amounts of pasta can also contribute to weight gain and the loss of micronutrient balance for the human body. These are some of the factors, which are limiting the growth of the pasta& noodles market worldwide. Additionally, many gluten-free and low-carb diet movements have contributed to the flat, and declining sales of pasta in many major markets.
Impact of COVID-19 in the Industry
Towards the start of 2020, the COVID-19 pandemic began spreading around the world.COVID-19 appears to have infected a great number of people around the world. Therefore, many countries were compelled to introduce social distancing norms as well as food prohibitions to reduce the spread of the disease.COVID-19 negatively impacted almost every industry; however, pasta and noodles experienced higher growth than other industry sectors in the review period. During the lockdown and strict lockdown norms, people had no other option than to stay at home more and cooking more for themselves. Since pasta & noodles can be stored for a long time, customers stockpiled these products during the lockdown.
For more info please visit press release of global pasta & noodles market: https://www.blueweaveconsulting.com/press-release/global-pasta-and-noodles-market-showing-modest-growth-growing-at-a-cagr-of-3-9-during-the-forecast-period-2021-2027
Ambient Pasta and Noodles, by product type, occupies the largest share of Global Pasta & Noodles Market
Based on product types, the global pasta & noodles market is grouped into Dried Pasta & Noodles, Chilled Pasta & Noodles, and Ambient Pasta & Noodles. The segment, which is accounted for the major share in terms of revenue, is ambient pasta and noodles. This segment is anticipated to maintain its position in the forecast period as well. This segment's dominance is attributed to the rising preference of consumers for ambient pasta products, which can be stored for a long time and are easy to prepare and serve. Moreover, this type of pasta and noodles do not require a refrigerator for storage. Additionally, the availability of different flavors of ambient noodles &pasta in the market drives the global growth of the pasta and noodles market.
The Asia Pacific is expected to witness significant growth in the market during the forecast period
Based on regions, the global pasta &noodles market is categorized into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific held the largest market share in 2020 and is likely to maintain its dominance during the forecast period. With the largest population base and two of the fastest-growing economies, such as China and India, this will be the region to expand at the highest rate over the next few years. In developing economies like China and India, pasta and noodles are staple foods. That’s the reason why the demand for pasta &noodles is witnessing momentous growth in the APAC countries.
Competitive Landscape
The key players in the global pasta &noodles market are Acecook Vietnam JSC, Nestlé, Brf Brasil Foods, Masan Consumer, CJ Group, Comercial Gallo, Conad, ConAgra Foods, Creamette, De Cecco, Delverde, General Mills, Barilla, Gerardo di Nola, House Foods Group, ITC, Kraft Heinz Company, Kroger, Teigwaren Riesa, Toyo Suisan Kaisha, La Molisana, Nongshim, Ottogi Foods, Conad, Nissin Foods, Panzani, Pastificio Rana and other key manufacturers.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global pasta &noodles market.It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global pasta & noodles market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Scope of the Report:
| Attribute | Details |
| Years Considered | Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia |
| Product/Service Segmentation | By ProductType,By Usage, By Distribution Channel,By Region |
| Key Players | Key players in theglobal pasta &noodles marketare Acecook Vietnam JSC, Nestlé, BrfBrasil Foods, Masan Consumer, CJ Group, Comercial Gallo, Conad, ConAgra Foods, Creamette, De Cecco, Delverde, General Mills, Barilla, Gerardo di Nola, House Foods Group, ITC, Kraft Heinz Company, Kroger, Teigwaren Riesa, Toyo Suisan Kaisha, La Molisana, Nongshim, Ottogi Foods, Conad, Nissin Foods, Panzani, Pastificio Rana and other key manufacturers. |
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