Pasta Market In-depth Analysis Report, Growth Drivers, and Research Report
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. 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 Nestl
Firma: Million Insights
Ansprechpartner: Tom Clark
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