12th
April 2019 - The
global pasta market is subject to witness a substantial growth due to the
introduction of a wide variety of products in the market, increasing demand for
staple food, and change in food habits. Growing demand for staple food from European
region due to regular consummation is anticipated to fuel market demand for
packaged pasta products over the forecast period.
Pasta is broadly known as a staple food of Italian cuisine. Additionally,
stringent governmental laws and regulation in regards to the labelling and
commercial manufacturing in the European region are expected to drive the
growth of pasta market in the upcoming years. Globally, the market is predicted
to grow at CAGR of 5.76% in forecast period, providing numerous opportunities
for market players to invest in research and development of the pasta market.
Other factors responsible for sustained market growth, in the recent
years, include changing food patterns, shifting lifestyle preferences,
increasing demand for on-the-go food products, particularly in the North
America and European region. Shifting trends towards pasta as a staple
carbohydrate from U.S and some of the European economies are anticipated to
drive market expansion over the forecast period.
Increasing approval rate by local government and international
authorities such as Food and Drug Administration (FDA) that also defines
standards of identity for macaroni products in the U.S. market are estimated to
escalate the value of pasta market in the near future. Furthermore, rising
demand form working professionals, increasing per capita income from developing
economies, majorly in the Asia Pacific region, and growing popularity of the
instant food is driving the growth of pasta market, in the recent years.
In addition, availability of wide variety of the products and development
of innovative flavored pasta products are anticipated to foster market demand
in the upcoming years as well. Rising competition in the market, leading to introduction
of novel products are projected to enhance overall market performance.
Increasing consummation of the staple food products from in various region
across the globe are prominent factors responsible for robust market growth in
the last few years. Growing popularity of the pasta products is attributed to
the instant food preparation, lower cost and easy availability.
The market is broadly categorized into three major types based on product
type such as ambient pasta and noodles, dried pasta, and chilled pasta. Ambient
pasta is considered as one of the fastest growing segment in the pasta market
with substantial revenue generation in the last couple of years. Increasing
demand for the ambient pasta market segment is credited to availability of a
wide range of products with variety of taste and flavor.
Other factors driving demand for the ambient pasta, in the last couple of
years include convenience food and longer shelf life of the product. The dried
pasta market segment has also witnessed significant growth in the recent years
owing to increasing demand from Asia Pacific region. Additionally, the ambient
pasta and noodles, and dried pasta products are shelf stable, as they does not
need refrigeration or chilled storage.
The market is divided by region as North America, Europe, Asia-Pacific,
Latin America and Africa. European region has shown major growth in recent
years owing to the rise in the implementation of latest technologies packaged
food industry and existence of prominent industry players in the region.
Asia-Pacific region is predicted to hold major market share with massive
growth in forecast period. Countries such as India, China, Japan, Malaysia,
Indonesia, South Korea and Singapore are leading the Asia-Pacific market with
increasing population base, rising per capita income, and significant
investment by leading industry players considering potential growth
opportunities in the region.
The key players in the pasta market are Nestlé S.A., Barilla S.p.A, ITC
Ltd., Kraft Heinz Company, Inc., Conad s.r.o., ConAgra Foods, Inc., Nissin Food
Products Co., Ltd., BRF S.A., De Cecco, Inc., and Delverde S.p.A.
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