Packaged Food Market Analysis: Major Players, Lucrative Segments And Top Geographies
7 Jun, 2023
The global packaged food market size is expected to grow from $2,768.30 billion in 2022 to $2,939.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global packaged food market size is expected to reach $3,699.75 billion in 2027 at a CAGR of 5.9%.
Global Packaged Food Market Key Driver
The growing popularity of snacks and a fast-paced lifestyle is projected to move the packaged food business forward in the next years. A snack is a smaller food dish that is typically consumed between meals and is lighter in weight than a meal. Snacks in various packaging appeal to customers while also facilitating faster transportation and promoting food safety and shelf life; as a result, the rising popularity of snacks and a rapid lifestyle raises demand for the packaged food sector.
Get a sample of the global packaged food market reportGlobal Packaged Food Market Segments
The global packaged food market is segmented:
1) By Type: Dairy Products, Confectionery, Packaged Products, Bakery And Snack, Meat, Poultry And Seafood, Ready Meals, Other Types
2) By Material: Glass, Metal, Paper, Plastics, Other Materials
3) By Packaging: Jugs, Packets, Bottles, Bags, Bowls, Boxes, Cans, Cartons, Crates
4) By Sales Channel: Supermarkets Or Hypermarkets, Specialty Stores, Grocery Stores, Online Stores, Other Sales Channels
5) By Geography: The regions covered in the packaged food market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global packaged food market.
Major Packaged Food Industry Players
General Mills Inc., Tyson Foods Inc., Conagra Brands Inc., JBS S.A., Nestle S.A, Hormel Foods Corporation, Maple Leaf Foods Inc., The Kraft Heinz Company, Smithfield Foods Inc., Kellogg Company, PepsiCo Inc., Mars Incorporated, WH Group Limited, The Hershey Company, Andros Group, Histon Sweets Spreads Ltd
Get the full global packaged food market reportPackaged Food Market Overview
Packaged food refers to foods that have had its complete surface wrapped to avoid direct interaction with the atmosphere, either through transparent or impenetrable wrapping. It helps to keep food longer and fresher.
Packaged Food Global Market Report 2023 provides data on the global packaged food market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The packaged food market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.