Newark, NJ, May 25, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global pasta & noodles market is expected to grow from USD 68.24 billion in 2020 and to reach USD 90.49 billion by 2028, growing at a CAGR of 3.66% during the forecast period 2021-2028.
The pasta & noodles market is witnessing significant growth form the past years. In many civilizations, such as Japan, Korea, and China, noodle soup is a favorite. It is also eaten on a daily basis in many European countries. These regions have a wide variety of goods that they eat on a regular basis and that are cooked differently in each country. Since these are staple foods in these regions and are eaten on a daily basis, the demand in these areas, as well as globally, is expected to grow. It's also a quick-cook food that only takes a few minutes to prepare. When the number of working professionals worldwide rises, so does the need for instant food.
Pasta and noodles are staple foods in a few countries and are regularly eaten. Nissin Foods Group invented instant noodles in 1958. Wheat semolina, water, and other ingredients such as flour, maize, sugar, eggs, and spices are used to make pastas and noodles. Pasta is also an important part of Italian cuisine. Furthermore, in Italy, the marking and industrial production of pasta are strictly regulated. New prepackaged pasta, for example, must have a water content of more than 24%, be kept refrigerated at a temperature of less than 4°C with a 2°C tolerance, undergo heat treatment equal to pasteurization, and be sold within 5 days of manufacture. Pasta is commonly eaten as a staple carbohydrate in the United States and other European countries. The United States' pasta is controlled by the Food and Drug Administration (FDA), which has established requirements of identification for macaroni products.
The global pasta & noodles market is expected to witness significant growth, owing to wide array of products availability, use of only natural additives in some variety, their instant preparation quality, healthier varieties of pasta and noodles, increase in population raising demand for staple food, good shelf life, larger disposable income and rising urbanization, increasing labour force demanding more instant food, shift towards the consumption of healthy and organic products and high demands due to changing lifestyles. Strong competition is limiting market growth; the epidemic has disrupted production and reduced demand; and panic shopping has resulted in price fluctuation due to a lack of commodities.
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Key players operating in global pasta & noodles market include Acecook Vietnam JSC, Nestlé, Brf Brasil Foods, Masan Consumer, CJ Group, Comercial Gallo, Conad, ConAgra Foods, Creamette, De Cecco, Delverde, General Mills, Barilla, Gerardo di Nola, House Foods Group, ITC, Kraft Heinz Company, Kroger, Teigwaren Riesa, Toyo Suisan Kaisha, La Molisana, Nongshim, Ottogi Foods, Conad, Nissin Foods, Panzani, Pastificio Rana, Pinehill Arabia Food, San Remo Macaroni Company, and Uni-President Enterprises. These main market players are employing a variety of tactics, such as global expansion and the introduction of new products, to expand the scope of their products and improve their product portfolios. ConAgra and Nestle S.A are some of the key manufacturers operating in pasta & noodles market.
- For instance, In November 2017, Nestlé, for example, opened a new factory in Cuba. The factory cost USD 55.62 million to construct, and it will employ 260 people by the third year. This facility will manufacture Nescafé, local Cuban roast and ground coffee Serrano, Nestlé Fitness cereal-based snacks, Nesquik powdered soda, and Maggi cooking aids. This growth would help meet consumer demand.
Ambient pasta segment dominated the market and held the largest market share of 39.15% in the year 2020
On the basis of product, the global pasta & noodles market is segmented into ambient pasta and noodles, dry pasta and noodles, and chilled pasta and noodles. Ambient pasta segment dominated the market and held the largest market share of 39.15% in the year 2020. Due to the large variety of products offered in this segment, which vary in taste and flavour, ambient pasta and noodles had the largest market share. Convenience and a longer shelf life are both contributing to the market's expansion. Dried pasta and noodles are accountable to being the fasted growing segment. They are meant to be eaten after being soaked in broth which helps give more flavour and keeps the dish hot. These goods are becoming increasingly common in countries such as India, China, and Argentina. This market is expected to grow at the fastest rate during the forecast era.
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Regional Segment of Pasta & Noodles Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global pasta & noodles market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia- Pacific region held the largest market share of 38.16% in the year 2020. Along with the largest share, it is forecasted to expand at the highest rate during the estimated timeframe due to its huge population base and two fastest-growing economies, China and India. Furthermore, the presence of countries such as China, Japan, and Korea, where noodles are a staple meal, is projected to fuel the pasta and noodles industry. China contributed the most because noodles are a staple food in China and the country has a massive population, which contributes to the high demand.
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About the report:
The global pasta & noodles market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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