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Informative Report On (COVID-19 Updates) Asia-Pacific Packaged Food Market | Nestle S.A., Kraft Foods Group, Inc., General Mills, Inc., ConAgra Foods, Inc., Tyson Foods, Inc., Kellogg Co., Smithfield Foods

05-08-2020 01:29 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Packaged Food Market

Packaged Food Market

AMR team is working exclusively on COVID-19 impact on various Asia-Pacific Packaged Food Market. The COVID-19 update is in progress and our research team is doing primary research activity to find out the revised growth curve of across all the industries at country level. Conducting an exclusive study keeping COVID-19 in mind would help client to interpret the economic impact in near-terms of and long term future. AMR research team is also tracking the changing dynamics of Asia-Pacific Packaged Food industry along with its immediate impact on the market.

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The product segment of baked goods was the second largest revenue generating segment in 2014 and is expected to grow at a CAGR of 6.1% during the forecast period. Demand for these products would be primarily augmented by increasing demand for baked foods like cakes, pastries and breads. Baby food would be the product segment growing at the fastest pace, followed by yogurt and cheese. Increasing concerns towards the health of babies is the key driver of baby food market. Moreover, the overall market of yogurt is growing pertaining to the rising demand for yogurt drinks. On the basis of geography, China dominates the Asia-Pacific packaged food market, followed by Japan. The key factors that propel the overall packaged food market in the Asia-Pacific are consumer's point of preference towards convenience food, growing rate of urbanization and growth in organized retailing.

Asia-Pacific Packaged Food Market Report, published by Allied Market Research, forecasts that the market is expected to $875.3 billion by 2020, registering a CAGR of 5.6% during the period 2015-2020. Due to the growing demand for ready to consume beverages in countries such as India and China, the non-alcoholic drinks led the Asia-Pacific packaged food market. However, baby food and yogurt would prove to be the most promising products with respect to the growing concerns of baby health across different countries in the region. China dominates the Asia-Pacific packaged food market, constituting over 30% of the market revenue. However, India would witness the fastest CAGR during the forecast period.

Key players that operate in this market primarily adopt acquisition as one of the key strategies for strengthening their market presence. Danone has recently acquired Wockhardt Nutrition India, in an effort to fortify its position in Asia. In addition, the Tyson Foods has adopted collaboration strategy to strengthen its market presence in India and also in other emerging markets of the Asia Pacific.

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Key Findings of Asia-Pacific Packaged Food Market:

o The growing demand from Asian countries like India and China have largely propelled the market of packaged food in the Asia-Pacific region
o Baby food and yogurt segments would witness relatively faster growth compared to other packaged food categories
o Within APAC region, India would register the highest CAGR of 8.2% during the forecast period

Top Key Players

Nestle S.A., Kraft Foods Group, Inc., General Mills, Inc., ConAgra Foods, Inc., Tyson Foods, Inc., Kellogg Co., Smithfield Foods, Inc., Hormel Foods Corporation, Maple Leaf Foods Inc., ITC Limited

Contact:

David Correa
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About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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