Packaged Food Products Market Research, 2030
The global packaged food products market size was $20.5 billion in 2021, and is projected to reach $34.4 billion by 2030, growing at a CAGR of 6.03% from 2022 to 2030.
The packaged food products market is segmented into Product, Packaging Type and Sale Channel.
Packaged food is food that has been prepared ahead of time and packaged in a way that extends its shelf life. The majority of packaged food products are mass-produced and distributed for consumption. The concept of packaged food arose as a result of factors such as ease of processing, consumption, handling ability, and opposition to external tampering. Packaged foods are simple to handle, prepare, and consume. They are becoming increasingly popular in both developed and developing countries due to their convenience for city dwellers. Packaged food is a popular product among consumers. As a result, consumer demand for such goods remains consistent.
Advances in processing techniques for extending food product shelf life have contributed to the growth of the packaged food products market. Furthermore, changes in food consumption patterns caused by the world's expanding working population drive the market growth. Improvements in retail infrastructure have increased the availability of packaged goods, and this ease of acquiring food items, combined with options for free home delivery and various promotional offers, has resulted in the global packaged food products market growth.
Consumer perceptions of packaged goods' negative effects, on the other hand, stifle growth and act as a major restraint on the global market. On the contrary, the packaged food industry is propelled forward by constant market innovation and technological development to increase the shelf life of the food products. With increased shelf life, people can easy carry packaged food products while travel and also store them for longer duration. These factors are responsible for the growth of the market in the coming few years.
The global packaged food products market segmentation is bifurcated into the product, packaging type, sales channel, and region. By product, the market is classified into cheese sauce & dips, jams & jellies, and apple compotes. By packaging type, the analysis has been divided into cans, jars, cups, and flexibles. By sales channel, the analysis has been divided into retail and food services. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include B and G Foods, INC., Andros Foods, Histon Sweets Spreads Limited, The J.M. Smucker Co., Gehl Foods, LLC. Conagra Brands, Tree Top and Kraft Heinz
By product, the cheese sauce & dips sub-segment is predicted to be fastest growing sub-segment. This increase can be attributed to factors such as increased consumption of cheese sauce and dips in European countries. Furthermore, rising demand for fast foods such as pizzas, burgers, tacos, and others will drive market growth, as these foods use cheese sauce as a dressing. Global demand for cheese sauce and dips has increased due to the massive expansion of pizza and burger fast food outlets, along with an expanding confections and bakery market.
By packaging type, jars sub-segment was the dominating sub-segment in 2021. This growth was due to the numerous advantages of glass jars, such as their non-corrosive nature and high visual appeal. Furthermore, glass jars extend the shelf life of food by providing extra protection from the outside environment, preserving flavors, texture, and aroma, providing visual delight to consumers, and preventing food contamination.
By sales channel, the food services sub-segment is predicted to be the fastest growing sub-segment. This fast growth is due to increasing number of food outlets such as Dominos, Pizza hut, and others globally. Also, adoption of urban lifestyle and rising trend of hotels and restaurants is expected to drive the market in the coming forecast time period. Also, for working professionals, food services were one of the major food sources they found it difficult to devote time for cooking. Such factors have propelled the packaged food products market growth.
By region, North America dominated the global market in 2021. This growth was due to the hectic work life of consumers in the region and their growing preference for ready-to-eat food and convenience. In addition, increasing innovations in food packaging, organic based food products, bold flavors, and healthy ingredients are further expected to contribute to the growth of the market in next few years. All such factors are anticipated to drive the global market for packaged food products.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global packaged food products market trends along with the current and future market forecast.
- The report covers the qualitative and quantitative analysis of the Packaged Food Products Market Forecast and Packaged Food Products Market Share for each segment, region, and country(s).
- This report highlights packaged food products market opportunities, market drivers, and restraints along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global packaged food products industry for strategy building.
- A comprehensive global packaged food products market analysis covers factors that drive and restrain the market growth.
- The qualitative data in this report aims on market dynamics, trends, and developments.
IMPACT OF COVID-19 ON THE GLOBAL PACKAGED FOOD PRODUCTS MARKET
- During the COVID-19 pandemic, many industries faced a major decline and losses due to poor raw supply, decrease in demand and supply, and more.
- However, packaged food products market saw an unexpected boost during the pandemic situation. This factor is attributed to the increase the consumption of snacks and beverages, chips, chocolates, and frozen food products during lockdown and work from home facility for the employees.
- Due to complete lockdown, people changed their shopping behavior and have started buying packaged food products in bulk and stock up their kitchen supplies. This in turn has encouraged the companies and the manufacturing units to speed up their production line and maintain the packaged food supply and demand chain.
Packaged Food Products Market Report Highlights
| Aspects | Details |
 By Product |
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 By Packaging Type |
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 By Sale Channel |
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 By Region |
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 Key Market Players | the j.m. smucker company, B and G Foods, Histon Sweets Spreads Limited, Conagra Brands, Inc., Gehl Foods, Andros Foods, Kraft Heinz |
Analyst Review
Adoption of healthy packaged food alternatives among consumers has created numerous opportunities for packaged food product companies to expand their market. Consumers prefer healthy food products that are high in nutritional value, low in cholesterol, preservatives, and fat. Because of the high demand for healthy foods, many beverage industries have begun producing organic and non-alcoholic juices to appeal to health-conscious consumers. This factor will contribute to market growth in the forecast period. According to the CXOs, Asia-Pacific is projected to register faster growth as compared to North American and European markets
In the forecast period, the packaged food products market is expected to be driven by increased demand for ready-to-eat healthy food products. As the urban population and the number of working people grow rapidly, so does the consumption of fast-food products. Employees in the private sector have a hectic time schedule, and it is exhausting for them to spend long hours cooking food, which may create lucrative opportunities for the market.
Agreement, business expansion, and product launch are the key growth strategies of global packaged food products market players.
Asia-Pacific will provide more business opportunities for global packaged food products market in the future.
B and G Foods, INC., Andros Foods, Histon Sweets Spreads Limited, The J.M. Smucker Co., Gehl Foods, LLC. Conagra Brands, Tree Top and Kraft Heinz. are the leading market players active in the packaged food products market.
Cheese Sauce & Dips segment held the maximum share of the global packaged food products market in 2021.
Retail and food services industries include the major customers of global packaged food products market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global packaged food products market from 2021 to 2030 to determine the prevailing opportunities
Packaged food products that can be prepared with few ingredients and in a short amount of time. Because of the high demand for ready-to-eat food products such as frozen food products, snacks, and more, this factor is expected to drive the package food products market over the forecast period
Adoption of healthy packaged food alternatives among consumers has created numerous opportunities for packaged food product companies to expand their market. Consumers prefer healthy food products that are high in nutritional value, low in cholesterol, preservatives, and fat. Because of the high demand for healthy foods, many beverage industries have begun producing organic and non-alcoholic juices to appeal to health-conscious consumers. This factor will contribute to market growth in the forecast period.
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