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Packaged Food Market Revenue will Grow USD 3,407.2 Billion by 2030 | Valuates Reports
Packaged Food Market SizeThe global packaged food market size was valued at $1,925.7 billion in 2020 and is projected to reach $3,407.2 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 5.2% from 2021 to 2030.
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The growth of the packaged food market can be attributed to innovations in processing techniques for extending the shelf life of food products. Furthermore, changes in food consumption patterns bought upon by the increasing working population all around the world drives the market growth. Improvement in the retail infrastructure has increased the availability of packaged goods and this growing ease of acquiring food stuff combined with options of free home delivery and different promotional offers has led to the growth of global packaged food market. However, the notion among consumers about the negative effects of packaged products hinders growth and act as the major restraint to the global market. On the contrary, the packaged food sector is being propelled forward by constant market innovation, which is being bolstered by rising consumer demand. Additionally, specific consumer demands, such as organic food, clean label food ingredients, vegan food, dairy-free products, and others, are expected to open avenues for the packaged food market growth.
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Packaged Food Market Segments
Packaged Food Market by Product Type
• Dairy Products
• Confectionery
• Packaged Produce
• Bakery & Snacks
• Meat Poultry & Seafood
• Ready Meals
• Others
Packaged Food Market by Sales Channel
• Supermarket/Hypermarket
• Specialty Stores
• Grocery Stores
• Online Stores
• Others
Key Companies
• Nestle S.A
• Tyson Foods
• Kraft Foods Group Inc.
• General Mills
• ConAgra Foods Inc.
• Smithfield Foods Inc.
• Kelloggs
• JBS S.A
• Hormel Foods Corporation
• Maple Leaf Foods Inc.
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