Pasta Market Outlook, Research, Trends and Forecast To 2030

Byshital varma

The global pasta market size was USD 66.36 billion in 2022. The market is projected to grow from USD 68.35 billion in 2023 to USD 99.24 billion by 2030, exhibiting a CAGR of 5.47% during the forecast period 2023-2030.

Pasta is a largely consumed, easy-to-make, and an affordable food product. The increasing and regular evolution of pasta propels the pasta market growth during the forecast period. The rising demand for instant food products, such as pasta and Western food culture adoption, is driving the market growth during the forecast period.

Fortune Business Insights™ mentioned this in a report titled “Pasta Market, 2023-2030.”

List of Key Players Present in the Report:

  • Barilla G. e R. F.lli S.p.A. (Italy)
  • Ebro Foods, S.A. (Spain)
  • CAMPBELL SOUP COMPANY (U.S.)
  • TreeHouse Foods, Inc. (U.S.)
  • Unilever (U.K.)
  • The Kraft Heinz Company (U.S.)
  • BORGES INTERNATIONAL GROUP (Spain)
  • Nestlé (Switzerland)
  • F.lli De Cecco di Filippo S.p.A (Italy)
  • Armanino Foods of Distinction (U.S.)

Source Link :

https://www.fortunebusinessinsights.com/pasta-market-102284

 

Segments-

Rising Dried Products Consumption to Propel Segment Growth

By product type, the market is segmented into dried, chilled, and canned. The dried segment is expected to dominate the market during the forecast period. The segment’s growth is attributed to increasing consumption of dried products globally. The shelf life of dried products is also more than chilled and canned products.

Rising Need for Wheat Products to Boost Segment Growth

Based on raw material, the market is classified into wheat and gluten-free. The wheat segment is estimated to dominate the market during the forecast period due to the increasing need for wheat products globally. The availability of products in different shapes and sizes also drives segment growth during the forecast period.

Growing Accessibility of Products to Drive Segment Growth for Supermarkets/Hypermarkets

By distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, online stores, and others. The supermarkets/hypermarkets will dominate the market during the forecast period owing to increasing availability and convenience of choosing the products from various options.

Geographically, the market is studied across North America, Europe, Asia Pacific, South America, the Middle East & Africa.

Report Coverage-

The report offers:

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
  • Comprehensive insights into regional developments.
  • List of major industry players.
  • Key strategies adopted by the market players.
  • The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints-

Rising Consumer Interest toward Western Cuisine to Propel Market Growth

The pasta market is estimated to grow during the forecast period due to consumers’ rising interest in Western cuisine in Asian countries. The rapid increase in cooking various and artistic recipes will boost significant growth post-pandemic. During the pandemic, the rising consumption in countries, including France, Germany, the U.S., and Italy, propelled the market growth.

Regional Insights-

Growing Demand for Product to Boost Market Growth in Europe

Europe is estimated to hold the largest pasta market share during the forecast period. The growth is attributed to the increasing product demand in the region. Europe will also be the dominating region due to the launch of new varieties of gluten-free products in various shapes and forms.

Asia Pacific is expected to have the fastest growth rate during the forecast period due to the rising adoption of Western diets in the region.

Competitive Landscape-

Rising New Product Launches to Aid Market Growth

The market has several players, including Ebro Foods, S.A., Barilla G.e.R.F.lli S.p.A., and Campbell Soup Company. These major market players are adopting strategies to launch new products to maintain their market position. The companies are manufacturing products that are gluten-free to attract health-conscious consumers.

Notable Industry Development

  • September 2021 – Barilla, an Italy-based pasta producer, expands its gluten-free product line made from chickpea flour.