Packaged Mac and Cheese Market Size to Reach a Valuation of USD 7,761.15 Million by 2030

Rising Preference for Convenience Food Products Drives Packaged Mac and Cheese Market Growth

According to our latest market study on "Global Packaged Mac and Cheese Market Forecast to 2030 - COVID-19 Impact, Global and Regional Analysis - by Pasta Source, Category, and Distribution Channel,'' the global packaged mac and cheese market size is expected to grow from US$ 5,461.20 million in 2022 to US$ 7,761.15 million by 2030; it is expected to register a CAGR of 4.5% from 2022 to 2030.

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Packaged mac and cheese products refer to convenience food products that include dried macaroni pasta and a powdered or liquid cheese sauce mix. It offers a quick and easy way to prepare macaroni and cheese by boiling the pasta and mixing it with the prepared cheese sauce. Some of these products refer to the ready-to-eat mac and cheese products, which require minimal time for preparation. Rising demand for convenience food products, increasing working women population, and changing lifestyles propel the growth of the packaged mac and cheese market across the globe. In addition, key market players in the regions take initiatives such as product launches, mergers, and acquisitions to fulfil the growing demand for packaged mac and cheese products.

In recent years, the demand for convenience foods such as ready-to-eat (RTE) and ready-to-cook (RTC) products, including packaged mac and cheese, has upsurged owing to busy lifestyles, increasing demand for on-the-go food products, and rapid urbanization. The hectic and fast-paced lifestyle of people in the region and the growth in the working population propel the demand for ready-to-eat and ready-to-cook food products such as packaged mac and cheese. Packaged mac and cheese have gained popularity due to the minimal preparation time. Along with this, the availability of ready-to-eat products such as frozen packaged mac and cheese is also gaining popularity among the young population. According to the survey conducted by Food and Health-"International Food Information Council (IFIC)," convenience is a key driver for millennials while purchasing food.

Kabuto Foods Ltd, Symington's Ltd, San Remo Macaroni Co Pty Ltd, Healthy Kids Ltd, TGK Brand Ltd, The Kraft Heinz Co, Nestle SA, General Mills Inc, Gooder Foods Inc, and Amy's Kitchen Inc are among the key players operating in the packaged mac and cheese market. These companies develop innovative products to sustain the market, which also helps expand the mac and cheese market. In August 2023, Tillamook County Creamery Association (TCCA) announced the launch of frozen macaroni and cheese and pizza. The Tillamook mac and cheese is launched in three flavors-classic cheddar, sharp cheddar and uncured bacon, and cheddar and hatch chile.

Impact of COVID-19 Pandemic on Global Packaged Mac and Cheese Market

Increasing inclination toward ready-to-eat food products coupled with surging preference for convenience food products owing to the rising working population propelled the demand for packaged mac and cheese products before the COVID-19 pandemic. In addition, product developments by key market players and surging demand for healthier products contributed to the growth of the packaged mac and cheese market. However, the food & beverages industry experienced adverse impacts of the pandemic during the first quarter of 2020. Many industries had to slow down their operations due to value chain disruptions caused by the restrictions on national and international boundaries. Further, social distancing norms and negative economic impact hindered the manufacturing and distribution operations in the packaged mac and cheese market. The COVID-19 pandemic also led to an economic recession in the initial month of 2020, giving rise to financial uncertainties among low-income and mid-income consumers.

The changes in consumption patterns and purchasing power of consumers resulted in increasing sales of packaged food products. Moreover, due to the work-from-home mandate, consumers preferred packaged products. Such convenience positively impacted the global packaged mac and cheese market growth.

Many businesses recovered as the governments of various countries eased social restrictions after the initial months of lockdowns in 2020. The COVID-19 vaccine offered relief from the distressing pandemic, benefiting economies by encouraging businesses to regain their activities. The resumption of operation in manufacturing units positively impacted the packaged mac and cheese market and led to its recovery in 2021. Manufacturers overcame the demand-supply gap as they were permitted to operate at their total capacities.

The report segments the global packaged mac and cheese market as follows:

Based on pasta source, the packaged mac and cheese market is segmented into wheat, rice, and others. Based on category, the market is bifurcated into conventional and gluten-free. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The packaged mac and cheese market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The packaged mac and cheese market in South & Central America is subsegmented into Brazil, Argentina, and the Rest of South & Central America.

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This release was published on openPR.