Pasta and Noodles Market Analysis, Growth Opportunities, Future Demand And Leading Players Updates By Forecast To 2020-2027
COVID-19 Scenario Analysis:
• The worldwide pandemic occurrence has significantly reduced the production and supply chain of pasta and noodles due to labor shortage and trade barriers.
• Indefinite lockdown witnessed high demand for noodle and pasta in the household as it is the staple food for some countries.
• Panic buying also impacts the shortage of goods, which leads to price fluctuation of the products.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in population, urbanization, and western influence on traditional food surges the growth of the pasta and noodle market. The staple food of some countries is the key factor that influences the growth of the pasta and noodles market. Several local and multi-cuisine restaurants are the prominent drivers of the market.
Increase in demand for instant food due to changes in lifestyles and food culture is a major factor that drives the growth of the global pasta and noodles market. The demand for instant food is increasing with the rise of working professionals globally, as consumers rarely want to spend time on cooking homemade food. This in turn boosts the growth of the market.
Pasta and noodles, however, contain high amounts of carbohydrates, which can affect an individual's blood sugar levels. Pasta and noodles made with all-purpose flour can also have an adverse health effect. Consumption of high amounts of pasta can lead to weight gain and loss in the micronutrient balance required for the human body. These are some of the factors that hinder the growth of the pasta and noodle market.
New Product Launches to Flourishes the market
Growth of the market for pasta and noodles is expected to increase due to the launch of a wide range of new products. New products are continually launched in the pasta and noodles segment to meet the growing demands of consumers. These new launches are necessary to retain the customer and also to increase the company's customer base. These products vary according to the flavors, themes, pasta shapes, and ingredients.
Some of the companies are innovating to introduce healthier pasta and noodles versions of their products. For example, Nestle India Ltd. has launched less salted Maggi noodles and adds iron to it to make it healthier. Similarly, there is a wide range of pasta products that are healthy in consumption, such as brown rice pasta, whole wheat spaghetti, whole grain lasagna, and organic whole wheat pasta and noodles.
A new low calorie chilled ready meal range of noodles has been launched by some companies, which has plant-based fiber by removing carbohydrates and high calories without compromising the taste and satisfaction. Such product variety attracts customers from different age groups and customers with different demands and choices. Thus, the launch of a wide range of new products is driving global growth in the market for pasta and noodles.
Top Key Players: Nestlé, Barilla, ITC, Kraft Heinz Company, Conad, ConAgra Foods, Nissin Foods, Brf Brasil Foods, De Cecco, and Delverde
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