Global Packaged Food Market: High Demand from Developing Nations to Emerge as Opportunity for Growth, says TMR

The growing demand for convenience dictated by increasingly busy lifestyles is one of the factors driving the demand for packaged food, states a new report by Transparency Market Research (TMR). The study is titled, “Packaged Food Market - Global Industry Size, Share, Trends, Analysis, And Forecasts 2012 - 2018.” The first section of the report covers the research scope, description, and methodology. The executive summary of the market, which includes the past, current, and estimated market size is included. The next section discusses the key market dynamics impacting the global packaged food market, such as drivers, restraints, trends, and future opportunities. The study utilizes Porter’s five forces analysis, which assesses the bargaining power of buyers and suppliers, the threat from substitutes, competitive rivalry, and the threat of new entrants.

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Packaged food has been popular in developed regions. However, today it is no longer limited only to that market. Players in the global packaged food market are earning nearly as much revenue from developing nations. Thus, there has been a significant growth in the global packaged food market, which is expected to continue in the coming years. The report suggests that the exposure to various packaged food is driving a change in the eating habits of consumers. In addition to this, the competitive pricing offered by packaged food items, the increasing variety, and also the hygiene offered by these products are driving their demand worldwide.

The report segments the global packaged food market on the basis of product type and geography. By product type, the market is segmented into ice cream, frozen food, canned food, meal replacement products, chilled food, baby food, noodles, sauces and dressings, soup, dried food, confectionery, sweet and savory snacks, pasta, bakery products, snack bars, dairy products, ready meals, oils and fats, condiments, and spreads. “The packaged baby food segment is estimated to expand at a significant pace,” says a TMR analyst. On the basis of geography, North America led in the past and is expected to retain its leading position in the coming years. In addition to this, developing markets are anticipated to show remarkable growth.

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Key players operating in the global packaged food market include: Cadbury Schweppes Plc, Lotte Group, Perfetti Van Melle Group, The Kraft Heinz Company, Unilever Group, and Wrigley Jr Co. Key players are actively participating in mergers and acquisition activities in order to expand their product portfolio and increase their share in the market. A case in point would be The Kraft Heinz Company. The company was formed by a merger between Kraft Food and Heinz. The report also includes key strategies adopted by players to gain profits in the market.

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