WASHINGTON, May 03, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Pasta Market finds that the increasing demand for gluten free products is expediting market growth. Primarily driven by rising demand for ready-to-eat food products, the total Global Pasta Market is estimated to reach USD 64.25 Billion by the year 2028.
The Global Market revenue stood at a value USD 42.1 Billion in the year 2021, and is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.3%.
Furthermore, the increase in working population is also anticipated to augment the growth of the Global Pasta Market, states Vantage Market Research, in a report, titled “Pasta Market Size, Share & Trends Analysis Report by Type (Dry Pasta, Instant Pasta, Fresh Pasta), by Raw Material (Semolina, Refined Flour, Durum Wheat, Others), by Distribution Channel (Institutional, Convenience Stores, Hypermarket/Supermarket, E-Retailing), by Sauce Type (White Sauce Pasta, Red Sauce Pasta, Mix Sauce Pasta), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Increasing Demand for Gluten Free Products in Manufacturing to Fuel Global Pasta Market
The increasing demand for gluten free products is expected to fuel the growth of the Pasta Market during the forecast period. This is owing to the increased diagnosis of celiac disease and other food allergies. Gluten intolerance, often known as celiac disease, is an autoimmune illness that destroys the lining of the small intestine and prevents nutrients from being absorbed from food. If left untreated, it can lead to additional immune system problems, osteoporosis, thyroid illness, and cancer. Prior to the 2000s, the majority of the community was unaware of the prevalence of celiac disease, which may have been easily mistaken for another digestion-related illness. The situation has improved, however, with the development of simple yet reliable diagnostic procedures. This has made it possible to examine the prevalence of celiac disease in various cultures and areas, boosting epidemiological research in this field significantly. Consumption of gluten-free products and avoidance of gluten-containing items is now the sole approach to treat celiac disease; hence demand for gluten-free products is high which in turn is expected to fuel the demand for gluten free pasta in the years to come.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Pasta market is predicted to grow at a CAGR of roughly 7.3% during the forecast period.
- The Pasta market was estimated to be worth roughly USD 42.1 Billion in 2021 and is expected to reach USD 64.25 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Pasta market.
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Segmentation of Global Pasta Market:
- Type
- Dry Pasta
- Instant Pasta
- Fresh Pasta
- Raw Material
- Semolina
- Refined Flour
- Durum Wheat
- Others
- Distribution Channel
- Institutional
- Convenience Stores
- Hypermarket/Supermarket
- E-Retailing
- Sauce Type
- White Sauce Pasta
- Red Sauce Pasta
- Mix Sauce Pasta
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Rising Demand for Ready-To-Eat Food Products to Augment Market Growth
The increasing demand for ready-to-eat food products is anticipated to augment the growth of the Pasta Market within the estimated period. The demand for ready-to-eat foods has risen significantly in recent years. More people are leading a stressful lifestyle as their employment levels climb. As a result, demand for ready-to-cook foods increased substantially. During the lockdown, consumption of these products climbed in Italy, Germany, France, and the United States, according to data published by Unione Italiana Food and ICE Agency. Owing to the growing demand for ready-to-cook food among consumers, the biggest exporting countries of these products saw around 31% of increase. Furthermore, these items are less expensive and easier to prepare, making them a popular choice among working people. Additionally, the demand for such convenient products is driven by a significant increase in the number of large retail formats globally, including convenience stores, specialty stores, and drugstores and pharmacies.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the food & beverage industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Pasta Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Europe to Dominate the Global Pasta Market
Europe has dominated the Global Pasta Market in 2021 and is likely to continue the same trend during the forecast period. It has long been an important part of traditional feasts, particularly in Italy and Greece. As customers have become more health-conscious, the market for high-carbohydrate foods has fallen in recent years. As a result, companies are introducing new gluten-free product types in a variety of shapes and forms to meet changing consumer tastes.
List of Prominent Players in the Pasta Market:
- Nestle India Limited
- ITC Limited
- Bambino Agro Industries Limited
- Del Monte Foods
- MTR Foods Private Limited
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Pasta Market Size, Share & Trends Analysis Report by Type (Dry Pasta, Instant Pasta, Fresh Pasta), by Raw Material (Semolina, Refined Flour, Durum Wheat, Others), by Distribution Channel (Institutional, Convenience Stores, Hypermarket/Supermarket, E-Retailing), by Sauce Type (White Sauce Pasta, Red Sauce Pasta, Mix Sauce Pasta), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/pasta-market-322491
Recent Developments:
February, 2021: Barilla, announced that its acquisition of the Catelli dry pasta business in Canada closed on January 29, 2021. The Catelli dry pasta business includes the Catelli, Lancia and Splendor brands and the plant in Montreal (Quebec). This acquisition will help underscore the importance of their responsibility to not only serve and satisfy the ever-changing needs of consumers through innovation but also to anticipate them.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Pasta Market?
- How will the Pasta Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Pasta Market?
- What is the Pasta market drivers and restrictions?
- What will be the CAGR and size of the Pasta Market throughout the forecast period?
This market titled “Pasta Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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