Sales of Pasta are anticipated to advance at a CAGR of 6.5% from 2023 to 2033
Fact.MR, a market research and competitive intelligence provider, predicts that the global pasta market will experience a Compound Annual Growth Rate (CAGR) of 6.5%, reaching a value of US$ 93.3 billion by the end of 2033. The increasing sales of shelf-stable and packaged food products, coupled with a growing preference for convenient food, are driving the sales of pasta worldwide.
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With rising health consciousness and a demand for organic food products, consumers are focusing more on healthier food options. The awareness of the nutritional benefits of organic pasta is expected to contribute to market growth, particularly as consumers in metropolitan areas, with hectic lifestyles, show a preference for organic pasta consumption.
Key Takeaways from the Market Study:
The global pasta market is valued at US$ 49.7 billion in 2023.
The demand for pasta is expected to rise at a CAGR of 6.5% from 2023 to 2033.
The global market is forecasted to reach US$ 93.3 billion by the end of 2033.
Dry pasta is projected to remain the most widely consumed type globally.
Europe is anticipated to hold a significant revenue share of the global pasta market in the coming years.
Factors Driving Pasta Market Growth:
Growing demand for international cuisines.
Transformation in the food service sector.
Increasing preference for convenience foods and packaged food products.
Rising consumption of Italian pasta in Asian countries and the United States.
The report emphasizes the increasing consumption of ready-to-eat food products, as people living hectic lifestyles seek convenience and instant food options. Pasta, being easily available and requiring less time and effort for preparation, fits this demand.
The Rise of Organic Pasta:
There is a growing demand for organic food products globally, stimulating pasta manufacturers to invest in Research and Development (R&D) activities to create different varieties of organic pasta. Manufacturers are producing new product varieties made from organic wheat to meet global consumer preferences, and these initiatives are expected to positively impact market growth over the next decade.
Browse Full Report: https://www.factmr.com/report/pasta-market
Competitive Landscape and Innovations:
Key pasta manufacturers are making substantial investments in strengthening their supply chain management systems and providing a wide variety of quality products. These manufacturers follow guidelines to ensure minimal environmental impacts and maintain quality control.
In March 2021, Bernoi, a U.S. company, launched frozen food products in different shapes, including macaroni, fusilli, penne, and others, aiming to offer restaurant-style products for consumption at home.
In September 2020, AGT Food and Ingredients launched Veggipasta, a pea-based product, providing healthy food alternatives to consumers.
Key pasta manufacturers are investing in new developments and providing organic food products due to rising health consciousness among consumers. For instance, General Mills Inc. launched Annie's One Pot Pasta in August 2019, featuring organic pasta with natural flavors and hidden veggies.
Top Companies Profiled in the Report:
Ebro Foods, S.A.
TreeHouse Foods, Inc.
The Kraft Heinz Company
Armanino Foods of Distinction
General Mills Inc.
Del Monte Foods Inc.
Segmentation of Pasta Industry Research:
By Raw Material:
By Distribution Channel:
Middle East & Africa
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What differences can the pasta market report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the pasta market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
Attractiveness quotient of emerging product/technology types in various products in the pasta market
Micro-economics factors that may hamper the prospects of some of the key segments
Recent spate of research and development (R&D) funding on key pasta markets
New business models paving way for disruptions in demand dynamic of key segments
Regional markets that will be future engine of growth and the industry trends that will support these markets
Challenges overcoming which may offer industry players competitive edge
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pasta market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on type (dry, instant, fresh), raw material (semolina, durum wheat, refined flour, others), sauce (white, red, mix), and distribution channel (supermarkets/hypermarkets, online stores, convenience stores, others), across five major regions of the world.
Bean pasta is set to reach US$ 14 billion in valuation by 2033
Organic pasta is projected to reach a market valuation of US$ 1.63 billion by 2034
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