Asia-Pacific Packaged Food Market Overview:
Asia-Pacific Packaged Food Market is expected to garner $875.3 billion by 2020, registering a CAGR of 5.6% during the forecast period 2015-2020.
The Asia-Pacific region has witnessed a transformational development in the packaged food industry over the years. In countries such as India and China, the concept of packaged or convenience food has evolved in the recent years, owing to changing lifestyles, increase in number of working professionals and the growing inclination towards fast food. Consumers these days, prefer ready to consume foods as these require considerable less time for cooking and come in a variety of options. Further, packaging preserves the nourishment in the food and provides it a longer shelf life. However, the aspects like contamination of food, strict government regulations and the presence of local brands act as key growth restrictors of this market. Different type of packaging including trays, bags, boxes, cans, cartons, pallets and wrappers has created new growth opportunities for the sector.
The segmentation of the Asia-Pacific packaged food market is done on the basis of product type and country. Depending on type of product, the market segments included in the report are breakfast cereals, baked goods, ready meals, potato chips, baby food, pasta, instant noodles, nuts, biscuits, cheese, chocolate confectionery, ice-creams, yogurt and non-alcoholic drinks. Currently, Asia-Pacific packaged food market is led by non-alcoholic drinks, followed by baked goods product category. From a perspective of growth, among all the categories of food, the baby food products would gain the highest CAGR. Moreover, the demands of baby food would be concentrated to developing countries such as India and China. The key factors that propel the market growth in India and China are the constantly increasing birth rate in India and massive population in China.
In the Asia-Pacific packaged food market, China was the highest revenue generating country in 2014, followed by Japan and India. China possesses the highest market share for baby foods and non-alcoholic drinks, thus occupying the Asia-Pacific region with a large market share. However, in India, the demand for packaged food would witness an upsurge during the forecast period proportionally with the increasing working population combined with influence of the western culture. Key players that are operating in packaged food market in Asia-Pacific are Nestle S.A, Kraft Foods Group, General Mills, ConAgra Foods Inc., Tyson Foods, Kelloggs Company, Smithfield Foods Inc., Hormel Foods Corporation, Maple Leaf Foods Inc. and ITC Limited.
- The study imbibes an in-depth analysis of the packaged food market in Asia-Pacific with current and future trends to illuminate the forthcoming investment opportunities in the market
- Current and future trends are drawn to denote the overall attractiveness and extract the profitable trends for gaining a stronger hold in the market
- The report inculcates the information pertaining to key drivers, restraints and opportunities including impact analysis
- Quantitative analysis of the current market and market estimations during the period of 201-52020 have been framed in the report to highlight the financial caliber of the market
- The report encapsulates SWOT analysis and Porters five forces model elucidating the role of buyers and suppliers in the market
- Value chain analysis in the report gives a proper understanding of the roles of involved stakeholders in the value chain
Asia-Pacific Packaged Food Market Report Highlights
Key Market Players
ITC Limited, Tyson Foods, Hormel Foods Corporation, ConAgra Foods Inc., Nestle S.A, Kelloggs, General Mills, Smithfield Foods Inc., Maple Leaf Foods Inc., Kraft Foods Group Inc.