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Pasta Market
The growth potential of the pasta market has been captured in the report. Some of the major market variables that have been considered include opportunities.
NEW YORK, NEW YORK, UNITED STATES, January 18, 2022 /EINPresswire.com / -- Market Scope:
Market Research Future (MRFR) presumes the pasta market to capture a 5.28% CAGR between 2020 and 2027 (assessment period). The assessment period should see the market size expanding to USD 67,987.1 Million, as consumers are introduced to a variety of flavors by the leading brands worldwide.
Top Boosters and Challenges:
Notable increase in health consciousness, as well as the rise in awareness regarding the health benefits associated with pasts, has been favorable for the global industry. In view of the soaring demand, manufacturers are increasingly developing a variety of pasta that help attract the attention of the mass. Multigrain pasta has been gaining significant popularity worldwide, given the surging consumption of healthy food items.
Evolving consumer eating habits in line with surging disposable income, especially in developing countries, could translate into a favorable business scenario. Sensing the host of opportunities, more and more players are venturing into the pasta industry in these countries, which should further enhance the market share worldwide.
Pasta's demand has also been mounting on the back of the high preference for natural food items, government-backed initiatives, and the surging purchasing capacity of the consumers in China, Brazil, and India. Gluten-free pasta is also making the rounds in the market, gradually capturing the attention of a rising number of consumers.
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Segmental Review:
The pasta market can be considered for various segments, including source and distribution channels.
For a comprehensive review of the global market, the sources have been split into segments such as wheat, multigrain, maize, soy, rice, and others.
Distribution channels covered in the review study are store-based (convenience stores, supermarkets & hypermarkets, and more), along with non-store-based.
Regional Insight:
Europe is the most bankable market for pasta, having captured the highest share of 36.34% in 2019. Although pasta is a popular food product across the entire region, it enjoys the highest demand in Italy, the country being a major supplier of the same. It is anticipated that Europe would continue to thrive at a rate of 5.05% throughout the review period, given the fact that the past is a staple food that is consumed with a variety of sauces and ingredients. Expanding population and the high per capita disposable income along with the flourishing tourism sector further add to the market worth.
North American consumers lead an extremely hectic lifestyle, which in turn raises the demand for food products that are easy to cook, like pasta.
Additionally, majority of the manufacturers in the United States keep launching a variety of flavored pasta as well as value-added items with added fiber, lower carbohydrate, fortified and gluten-free varieties. The consumers' substantial disposable incomes combined with the high number of hypermarkets, departmental stores, and supermarkets, further propel the market position in the region.
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Asia Pacific can anticipate the fastest growth in the global market, with India and Singapore expected to head the business growth. The heightened sense of awareness among the consumers combined with the surge in the number of fitness freaks will favor the industry. Popularity of eCommerce channels, growing presence of organized distribution channels and the expanding urban populace also drive the sales of pasta in the region.
Prominent Vendors:
The major pasta brands in the worldwide industry include Ebro Foods, S.A. (U.K.), Unilever (U.K.), General Mills, Inc. (U.S.), Del Monte Foods, Inc. (U.S.), Quinoa Corporation (U.S.), Thai President Foods Public Company Limited (Thailand), Conagra Brands, Inc. (U.S.), Ajinomoto Co., Inc. (Japan), Nestlé S.A. (Switzerland), Barilla G. e R. F.lli S.p.A. (Italy), and more.
Latest Developments
January 2022
Noodles & Company is amping up its R&D efforts, with the aim to provide customers with healthier options for pasta, and has therefore, introduced LEANguini. This new pasta has 56% lesser carbs, and 44% more protein compared to conventional linguini noodles. LEANguini Shrimp Scampi has pasta along with shrimp in roasted zucchini, Roma tomatoes, and light scampi sauce, which are topped with parsley, lemon, and parmesan.
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Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
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