The global packaged food market is expected to reach the market value of around US$ 3.2 Trillion by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027.

Package foods are known as types of food and beverage items are used in the prepared foods fit for consumption. Frozen, refrigerated and safe products are used in the packaged food products.

The report provides analysis of global Packaged Food market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Social Media Impact on the Industry

Another aspect that pushes the packaged food industry is the influence of social media. The social media also plays a significant part in the development of the food packaging industry. Herstellers spend vast sums of money in digital media to sell their products on the Internet. The digital marketing tracks the interests and form of concern of the consumer on the internet. By social media, companies build the same desire and appetite for a network of consumers. This lets companies develop a client base and increases drug awareness.

Regional Stance

In 2018, North America held considerable market share and is anticipated to continue to expand in a healthy way as a consequence of emerging currencies, ease of ordering, new consumer patterns, and significant investments of local players in achieving greater performance. The retail processed food industry fuelled by large sales in the US and Canada forms a significant part of North America. Consumers in these countries have frequently ordered ready-to - eat food packets instead of regular meals as they are stretched for an enormous amount of time due to busy schedules. The effect of staple food goods was that demand for processed foods was rising in spite of the strong popularity. Food manufacturers update their product categories to include both snack food categories and safe packaged foods as another factor to support the North American market.

Europe is forecast to record considerable growth in the packaged food market. Consumers are increasingly turning to packaged foodstuffs with increasing awareness of the benefits of a healthy lifestyle and an improvement in household annual income.

Report coverage

The market research study on “Packaged Food Market (Packaged Food Market By Type: Bakery Products, Dairy Products, Confectionery, Non-alcoholic Beverages, Ready Meals, Breakfast Cereals, Baby Food, Condiments, Sauces, and Dressings; Packaged Food Market By Sales Channel: Retail Stores, Convenience Stores, Supermarket/Hypermarket, E-commerce) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Packaged Food market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Packaged Food market size, and segment markets by type, sales channel, and geography along with the information on companies operating in the market. The Packaged Food market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Packaged Food market is segmented as below:

Market Segmentation

Packaged Food Market By Type

• Bakery Products
• Dairy Products
• Confectionery
• Non-alcoholic Beverages
• Ready Meals
• Breakfast Cereals
• Baby Food
• Condiments, Sauces, and Dressings

Packaged Food Market By Sales Channel

• Retail Stores
• Convenience Stores
• Supermarket/Hypermarket
• E-commerce

Packaged Food Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

Key Players and Market Situation

Participants include major global players such Cloetta Fazer AB, New World Pasta, Haribo GmbH & Co KG, Kraft Foods Inc, Hershey Co, Perfetti Van Melle Group, Nestlé SA, and Others.  

In view of the intense pressure on this market, players concentrated on product differentiation and aggressive marketing efforts in order to achieve a competitive advantage. Companies have now spent extensively in recognizing customer’s changing needs and desires and thus change their product production and marketing strategies. Therefore, acquisition and alliances has been a popular rising tactic that helps smaller businesses in the world packaged food industry to increase their prospects.

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