Pune, India, Nov. 02, 2022 (GLOBE NEWSWIRE) -- The global pasta market is set to gain traction from the evolving consumption patterns and hectic lifestyles of people. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Pasta Market Size, Share, and Regional Forecast, 2022-2029.” The report further states that pasta originated in Italy and gained popularity worldwide because of its instant cooking properties.
The global pasta market size was valued at USD 43.63 billion in 2021. The market is projected to rise from USD 46.84 billion in 2022 to USD 77.83 billion by 2029 at 7.52% CAGR during the forecast period 2022-2029. Fortune Business Insights™ has deep-dived into these insights in its latest research report titled, “Pasta Market, 2022-2029.”
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List of all the prominent pasta manufacturing companies present in the global market:
- Barilla Holding S.p.A.
- Nestle S.A.
- De Cecco di Filippo S.p.A.
- Makfa OAO
- Ebro Foods S.A.
- TreeHouse Foods, Inc.
- Fratelli S.p.A.
- American Italian Pasta Company
- Conagra Brands, Inc.
How Did We Create This Report For You?
We follow an innovative research methodology that includes data triangulation on the basis of bottom-up and top-down approaches. We conduct extensive primary research to validate the projected market numbers. The data used to estimate the forecast for various segments at the country, regional, and global levels is collected through interviews with various leading stakeholders. We also derive information from paid databases, industry journals, SEC filings, and other authentic resources. The report includes several details, such as drivers, opportunities, challenges, and dynamics of the market.
Drivers & Restraints-
Increasing Demand for Organic & Gluten-free Food Items to Aid Growth
The rising changes of the young generation towards dietary preferences are set to propel the pasta market growth in the upcoming years. Besides, the availability of pasta in a wide variety of shapes, such as penne, macaroni, spaghetti, vermicelli, and fusilli, would accelerate its demand. At the same time, the increasing trend of consuming organic, gluten-free, and healthy food items worldwide would also bolster growth. However, the rising awareness regarding the severe health effects of consuming high-carb food may hinder growth.
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Market Segments:
By Product Type
- Dried
- Chilled
- Canned
By Raw Material
- Wheat
- Gluten-free
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Others
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Regional Insights-
Rising Trend of Eating in Restaurants among Young Generation to Boost Growth in North America
Geographically, Europe is anticipated to showcase the highest pasta market share throughout the forthcoming years. This growth is attributable to the increasing demand for healthier varieties of pasta. Multiple companies present in the region are aiming to develop novel products to fulfil the surging need. North America, on the other hand, is set to exhibit promising growth because of the rising trend of eating in restaurants and cafes among the younger population. In Asia Pacific, the market would grow considerably owing to the discretionary spending patterns.
Competitive Landscape-
Key Players Focus on Launching Unique Products to Meet High Demand
The global pasta market is highly fragmented with the presence of a large number of big, small, and medium organizations. Most of them are focusing on unveiling state-of-the-art products to cater to the surging consumer demand across the globe.
Report Coverage
The report sheds light on quantitative and qualitative assessments to offer a holistic view of the global market. Further, a host of primary interviews has been conducted with opinion leaders, suppliers, and other stakeholders. Primary data has been collated through emails, telephonic conversations, and questionnaires. The secondary sources referred are press releases, SEC filings, and websites. The report highlights bottom-up and top-down approaches to provide a comprehensive view of product mapping.
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Below are the two latest industry developments:
- January 2021: Beroni, a new British company launched its latest frozen pasta range in Waitrose & Partners, a brand of supermarket based in the U.K. It is priced at £3 for a 1kg bag. The ‘restaurant-style’ range can be ready in less than 30 seconds.
- December 2020: Tampa brothers Greg and Nicolaas Bryon introduced ‘Pasta Packs’, an all-in-one prepared meal kit. The range includes six varieties of pasta and it doesn’t take more than 10 minutes to complete. They aim to provide safe and delicious food to people.
- Armanino Foods of Distinction, Inc.
- Other key market players
Read Related News:
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