Packaged Food Market Size to Reach US$ 3,114.34 Billion During 2022-2027 | Industry Forecast, Share and Growth

The global packaged food market size reached US$ 2,105.73 Billion in 2021. By 2027, it will reach a value of US$ 3,114.34 Billion, CAGR of 6.33% (2022-2027).

SHERIDAN, WYOMING, USA, November 10, 2022 /EINPresswire.com/ -- The latest research study “Packaged Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global packaged food market size reached US$ 2,105.73 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3,114.34 Billion by 2027 exhibiting a growth rate (CAGR) of 6.33% during 2022-2027.

What is Packaged Food ?

Packaged food represents convenience food items that are prepared and packed into plastic containers, boxes, tin cans, etc., depending on their physical forms and textures. They can be of several types, such as bakery products, dairy products, beverages, meals, breakfast products, etc. These packaged food variants have improved barriers against chemical, biological and physical alterations and facilitate efficient contamination protection.

They prove to be extremely beneficial as they can be instantly consumed or require less cooking time while ensuring optimal nutritional value. As a result, packaged food items are in high demand among consumers across countries.

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Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Packaged Food Market Trends and Drivers:

The growing food retail sector and the shifting preferences toward ready-to-eat products, owing to the hectic work schedules and the expanding women working population, are primarily driving the packaged food market.

Moreover, the rising investments by leading market players in research and development (R&D) activities to improve product shelf-life and produce anti-microbial packaging materials are also positively influencing the global market. In line with this, the introduction of lightweight packaging solutions to lower transportation costs and harmful carbon emissions is acting as another significant growth-inducing factor.

Additionally, the launch of various policies by government bodies aimed at promoting the adoption of clean-label products without any harmful chemical additives is expected to propel the packaged food market over the forecasted period.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Product Type:
• Bakery Products
• Dairy Products
• Beverages
• Breakfast Products
• Meals
• Others

Breakup by Distribution Channel:
• Supermarket/Hypermarket
• Specialty Stores
• Convenience Stores
• Online Retail Stores
• Others

By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

The major players in the market are
• Conagra Brands Inc.
• Danone S.A.
• General Mills Inc.
• Hormel Foods Corporation
• JBS S.A
• Kellogg Company
• Maple Leaf Foods Inc
• Nestle S.A
• PepsiCo Inc.
• The Coca-Cola Company
• The Kraft Heinz Company
• Tyson Foods Inc.
• WH Group Limited.

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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