Packaged Food Market (Product Type - Ready Meals, Ice Creams, Cheese, Yogurt, Nuts, Biscuits, Baby Food, Soups, Potato Chips, Instant Noodles, Non-alcoholic Drinks, Breakfast Cereals, and Others; Distribution Channel - Online, and Offline): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the packaged food market provides an in-depth analysis of segments and sub-segments in the global as well as a regional packaged food market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional packaged food market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global packaged food market. According to the report, the global packaged food market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

Market Insight

Packaged food markets have witnessed a steady rise due to rising disposable incomes and shifting consumer preferences in developing markets. Additionally, the current concern over the spread of coronavirus is also expected to have a noteworthy impact on the sales of packaged food in the long term. The high demand for packaged foods due to consumer's stock-piling during the lockdown period is anticipated to aid market growth. Moreover, consumers are moving towards packaged foods because of their longer shelf-life and ease of storage, which is a key factor in promoting its usage during the COVID-19 epidemic. Moreover, consumers are also shifting to packaged and foods amidst the pandemic due to their low human contact and safety provided by the packaging materials.

The convenience of consumption, changing lifestyles, and augmented health awareness are the main factors pouring the growth of the packaged food market. They are easy to handle, cook, and consume, and are free from external tampering. Particularly, the ingestion of packaged food is much higher in metropolitan areas, particularly metros, where life is fast-paced; attracting a lot more companies to launch innovative types of products and variants. Furthermore, growing disposable income, along with busy work schedules are some other driving forces for the packaged food market. The convenient and attractive packaging materials used for food are also boosting the market growth. The foremost packaged food consist of bakery and dairy products, canned and frozen processed food, ready-to-eat meals, diet snacks, processed meat, health products, and drinks. The increase in the number of supermarkets, malls, and one-stop grocery stores coming up is also one of the foremost factors contributing to the sales of frozen and convenience food items. Some of the key limitations to the market growth are owing to food contamination, government regulations, and the development of local brands. In addition, severe government compliances, the risk of food contamination or reaction with packaging material, and the emergence of numerous local brands pose major challenges to the growth of this market.

Among the geographies, the North America region is expected to hold the largest share in the global packaged food market. Further, factors such as the rise in the population of working professionals and their busier lifestyles have led to the growing need to cater to the changing consumption patterns of the masses in the region driving the market growth. However, the Asia Pacific region is expected to witness significant growth over the forecast period owing to the rapid urbanization, evolving lifestyles, and rising disposable income has resulted in the greater consumption of packaged foods. The mounting availability of packed foods and food products in rural areas has also greatly benefited the packaged food market in the region.

Segment Covered

The report on the global packaged food market covers segments such as product type, and distribution channel. On the basis of product type, the sub-markets include ready meals, ice creams, cheese, yogurt, nuts, biscuits, baby food, soups, potato chips, instant noodles, non-alcoholic drinks, breakfast cereals, and others. On the basis of the distribution channel, the sub-markets include online, and offline.

Companies Profiled:

The report provides profiles of the companies in the market such as Nestle S.A., Tyson Foods, Inc., General Mills, Inc., ConAgra, Inc., Smithfield Food, Inc., Kellogg’s, JBS Foods S.A., Hormel Foods Corporation, and Maple Leaf Foods, Inc.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the packaged food market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.