Packaged Food Market Future Analysis - Nestle S.A., Tyson Foods, Inc., Kraft Foods Group, Inc., General Mills, Inc., ConAgra, Inc., Smithfield Food, Inc., Kellogg’s, JBS Foods S.A.

Baby food would be the fastest growing market followed by the market of yogurt and nuts. Growing demand for yogurt drinks is the key factor propelling the yogurt market growth. The increasing consumption of nuts as raw food and the growing awareness of its nutritional benefits are key factors that boost the demand for nuts. Geographically, North America leads the packaged food market, followed by Europe. The Asia Pacific and LAMEA are the most promising markets for packaged food.

Packaged food market report, published by Allied Market Research, forecasts that the global market is expected to garner $3.03 trillion by 2020, registering a CAGR of 4.5% during the forecast period 2015 - 2020. The segment of non-alcoholic drinks dominated the overall packaged food market due to the large demand of ready to drink (RTD) beverages, globally. Baby food stands out as the fastest growing segment, primarily driven by the growing awareness towards modern care practices in baby health and food hygiene, primarily, in the developing nations. Presently, North America is the highest revenue generating region in the global market and would continue to maintain its dominant position throughout the analysis period. However, in terms of growth, APAC region would be the fastest growing market, expected to grow at a CAGR of 5.4% during 2015 - 2020.

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Top Impacting Factors

Factors such as nutritious food, and innovative packaging technology affect the growth of the packaged food market positively. The top factors, which have an impact on the packaged food market, have been elaborated as follows in the descending order of their impact:

Nutritious Food

Nowadays, consumers prefer food products, which have high nutrition value, less preservatives, low cholesterol and low fat. Major players in this industry are coming up with new food products that fulfil these requirements of the customers. There is a marked growth in the adoption of organic food. Some of the food products manufactured by the companies are positioned as 99% lactose and gluten free. Therefore, awareness towards proper nutrition has led to an increased consumer inclination towards packaged food.

Packaged foods include ready meals, baked foods, breakfast cereals, soups, baby food, potato chips, nuts, instant noodles, pasta, biscuits, chocolate confectionary, cheese, yogurt, ice cream, sauces, dressings & condiments and non-alcoholic drinks. Among these food products, the segment of non-alcoholic drinks, and baked foods together contribute to nearly 3/4th of the market, in terms of value. The dominance of these product categories in the market is primarily supplemented by the global demand for baked food (including food products such as cake, pastries and bread) and drink products (carbonated and non-carbonated). RTD beverages contribute for a major share in the non-alcoholic drinks market and has witnessed remarkable growth and acceptance in the APAC countries over the last decade. Further, bottled water, is now witnessing tremendous growth in developing nations where growing per capita income, health awareness and changing lifestyles has significantly boosted the demand for packaged and purified water.

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Segment Overview:

Breakfast is considered as the most important meal of the day and this widespread emphasis of consumers on the morning meal is driving the growth of the packaged food industry. Health concern, convenience, and portability are increasing this demand. However, the main driving force of baked food market is the consumers’ demand for products, which are more natural. The factor pushing the growth of the baked food industry is innovation and development in the baking industry. With the wide increase in health consciousness, the use of the baked food items is increasing, and the competition in the market is growing owing to the presence of various players manufacturing baked food products. The global players like Nestle, Kellogg’s and Kraft Foods invest in product innovation and product development. In baked food market, Europe is the highest revenue-generating region amongst others. However, Asia-Pacific is expected to grow at the fastest CAGR of 8.0% during 2015 to 2020.

The key players operating in the packaged food market are Nestlé, General Mills, Kraft Food, Inc., ConAgra foods, Inc., Tyson Foods, Kellogg’s, Frito-Lay, JBS Food, Smithfield Food, Inc. and Mars, Inc. Prominent players like Nestlé and Kraft foods are investing heavily in promotions and increasing brand awareness for aiding product differentiation.

Packaged Food Market Key Segmentation:
The market is segmented on the basis of product type and geography.

By Product Type

• Ready Meals
• Baked foods
• Breakfast cereals
• Soups
• Baby Food
• Potato Chips
• Nuts
• Instant Noodles
• Pasta
• Biscuits
• Chocolate Confectionary
• Cheese
• Yogurt
• Ice Creams
• Sauces, Dressings & Condiments
• Non-alcoholic drinks

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