Rockville, May 11, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market global pasta provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global pasta market is forecasted to increase at a CAGR of 6.5% and reach a value of US$ 93.3 billion by the end of 2033. Increasing sales of shelf-stable and packaged food products and rising preference for convenient food are stimulating the sales of pasta across the world.
More consumers are now concentrating on the consumption of healthier food products due to rising health consciousness and growing demand for organic food products. They are becoming aware of nutritional benefits of organic pasta, which is predicted to contribute to market growth. Owing to hectic lifestyles in metropolitan cities, consumers are giving preference to the consumption of organic pasta.
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People are opting for different types of pastas owing to their easy availability and preparation methods, which is estimated to accelerate growth opportunities for market players over the forecast period.
Key Takeaways from Market Study
- The global pasta market stands at a valuation of US$ 49.7 billion in 2023.
- Worldwide demand for pasta is anticipated to rise at a CAGR of 6.5% from 2023 to 2033.
- The global market is forecasted to reach a valuation of US$ 93.3 billion by the end of 2033.
- Dry pasta is set to remain the most widely consumed type around the world.
- Europe is predicted to hold a significant revenue share of the global pasta market over the coming years.
“Growing demand for international cuisines, transformation in the food service sector, increasing preference for convenience foods & packaged food products, and rising consumption of Italian pasta in Asian countries and the United States are driving the sales of pasta globally,” says a Fact.MR analyst.
Rising Consumption of Ready-to-eat Food Products
In recent years, there has been a noteworthy increase in the demand for ready-to-eat food products. The number of people living hectic lifestyles is increasing rapidly. Moreover, the increasing employment rate around the world has led to increased demand for convenience and instant food products owing to the shortage of time. Pasta is easily available and requires comparatively less time and effort in preparation than other food. Pasta is one such food product, which is easily available around the world and does not require extensive preparation.
Growing Demand for Organic Pasta
Growing demand for organic food products around the world is anticipated to stimulate manufacturers of pasta to invest in R&D activities to prepare different varieties of organic pasta. Therefore, manufacturers are producing new product varieties, which are made of organic wheat to match the requirements of global consumers. These innovative initiatives are projected to positively impact market growth over the coming decade.
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Competitive Landscape
Key manufacturers of pasta are making huge investments in strengthening their supply chain management systems and providing a wide variety of quality products to target end users. In the production of pasta, manufacturers follow certain guidelines, which are implemented by respective governing bodies to ensure minimal environmental impacts and quality control.
New developments, innovations, etc., are some strategies, which are adopted by key players to attract consumers to the target market.
For instance,
- In March 2021, Bernoi, a United States company, announced the launch of frozen food products in different shapes, including macaroni, fusilli, penne, and others. The company aims to offer restaurant-style products for consumption at home.
- In September 2020, AGT Food and Ingredients launched Veggipasta, which is a pea-based product. This initiative of the company provides healthy food alternatives to its consumers.
Winning Strategy
Key manufacturers of pasta are investing in new developments and providing organic food products owing to rising health consciousness among consumers.
For instance,
- General Mills Inc. launched Annie’s One Pot Pasta in August 2019. This newly launched organic pasta comes with natural flavors and hidden veggies.
Top Companies Profiled in this Report
- Ebro Foods, S.A.
- TreeHouse Foods, Inc.
- Unilever
- The Kraft Heinz Company
- Nestle
- Armanino Foods of Distinction
- General Mills Inc.
- Del Monte Foods Inc.
Segmentation of Pasta Industry Research
- By Type :
- Dry
- Instant
- Fresh
- By Raw Material :
- Semolina
- Durum Wheat
- Refined Flour
- Others
- By Sauce :
- White
- Red
- Mix
- By Distribution Channel :
- Supermarkets/Hypermarkets
- Online Stores
- Convenience Stores
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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What differences can the pasta market report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the pasta market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the pasta market
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key pasta markets
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
- Challenges overcoming which may offer industry players competitive edge
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pasta market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on type (dry, instant, fresh), raw material (semolina, durum wheat, refined flour, others), sauce (white, red, mix), and distribution channel (supermarkets/hypermarkets, online stores, convenience stores, others), across five major regions of the world.
Check out more related studies published by Fact.MR Research:
Bean Pasta Market Outlook: Global demand for bean pasta is predicted to increase at a prolific CAGR of 12% from 2023 to 2033. In 2023, the global bean pasta market is valued at US$ 4.5 billion and is thus expected to reach a market size of US$ 14 billion by the end of 2033.
Plant Based Pasta Market Insights: Plant based pasta market is set to witness steady growth. While the market is set to show recovery from crisis in the mid-term of the projection period, for the long term, demand is expected to showcase higher than the historical growth.
Low Fat Pasta Market Growth: Rising awareness of ultra-low fat diet practices is driving the demand for low fat pasta across the globe as well as these diet promotes the consumption of food with less than 10% fat. For this diet practice, Low fat pasta is one of the ideal food.
Fat Free Pasta Market Share: The introduction of various novel flour to enhance the nutrient content of fat free pasta is the prime driving force that will induce growth in the global market.
Low Fat Pasta Sauce Market Analysis: As consumers increasingly seek great taste, healthy options along with convenience and sustainability in daily diet to fuel their on-the-go lifestyles, the face of pasta sauces is changing. Consumers are constantly on the lookout for sauces, creams and dressings that offer low-fat alternatives.
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