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DUBLIN--(BUSINESS WIRE)--Dec 5, 2022--
The "Packaged Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global packaged food market size reached US$ 2,105.73 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 3,114.34 Billion by 2027, exhibiting a CAGR of 6.74% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Packaged food refers to convenience food items that are prepared and distributed for consumption. These products can be packed into boxes, plastic containers, and tin cans, depending on their physical forms and textures. Packaging materials offer several benefits, such as barrier and contamination protection, portion control, help retain their shape and quality, prevent spillage and tampering, etc.
In addition to this, they also provide a medium for information transmission, such as expiry date, nutritional content, price and origin of the packaged products, etc. Packaged food products are widely available in supermarkets, hypermarkets, online platforms, retail shops, etc.
The expanding food retail sector coupled with the rising consumption of ready-to-eat food products is primarily driving the global packaged food market. Additionally, the elevating levels of urbanization, changing consumer dietary patterns, and growing working women population are also augmenting the demand for packaged food items, such as baked goods, snacks, dairy products, noodles, etc.
Moreover, the introduction of numerous initiatives by regulatory bodies, such as the U.S. Food and Drug Administration (FDA), to promote the adoption of clean-label, packaged food products without harmful chemical additives is acting as a significant growth-inducing factor. In line with this, the emerging popularity of on-the-go healthy snacks, including meat snacks, cereals, granola bars, etc., is also propelling the market growth.
Additionally, numerous key players are investing in R&D activities to enhance product shelf-life and launch anti-microbial packaging materials, thereby positively influencing the global market for packaged food items. They are also focusing on the development of lightweight packaging solutions to reduce transportation costs and harmful carbon emissions.
Moreover, the sudden outbreak of the COVID-19 pandemic has resulted in the increasing sales of packaged food items across online retail platforms, especially during the imposition of stringent lockdown regulations. Apart from this, continuous advancements in the packaging technologies for food products, including the launch of biodegradable, nanofabrication, flexible packaging, etc., are expected to drive the global packaged food market in the coming years.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global packaged food market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type and distribution channel.
Breakup by Product Type:
Breakup by Distribution Channel:
Breakup by Region:
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/m0qksy
View source version on businesswire.com:https://www.businesswire.com/news/home/20221205005694/en/
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KEYWORD:
INDUSTRY KEYWORD: RESTAURANT/BAR SUPERMARKET PACKAGING CONVENIENCE STORE FOOD/BEVERAGE MANUFACTURING RETAIL DELIVERY SERVICES
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/05/2022 12:50 PM/DISC: 12/05/2022 12:52 PM
http://www.businesswire.com/news/home/20221205005694/en