Sales in the Packaged Food Market are forecasted to surpass US$ 5,200 Bn by the end of 2032 | Future Market Insights Inc. 

Published On : 03/08/2023

North America is expected to be the leading region in the global packaged food market, opines FMI. Growing inclination towards naturally sourced food products is expected to propel the demand for packaged food in the U.S.

NEWARK, Del: The Packaged Food Market is anticipated to reach a value of US$ 3,100 billion by 2022 and then grow at a CAGR of 5.3% from 2022 to 2032 to reach US$ 5,200 billion. Market growth for packaged foods is being driven by ongoing technical developments. To extend the shelf life and increase the appeal of the packaged food, producers are implementing cutting-edge packaging materials.

Packaging of food using sustainable materials, such as plant-based plastics, bamboo, and vegetable starch, is anticipated to see a surge in demand throughout the projection period as customers consciously choose to support a safe world. The market is anticipated to grow between 2022 and 2032 as a result of an increase in demand for interactive packaging, which enables product use without completely removing the package off the product.

Organizations that are transparent about the production processes and emphasize labelling are expected to aid the demand in the market. Packaging of products plays a crucial role in packaged food market. Key players are innovating packages that eliminate contact with air to avoid fungal growth and improve shelf life, ease of transport.

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Further, numerous people are reducing the intake of dairy, meat products and substituting them with plant-based alternatives. As a result, manufacturers of packaged food products are focusing on developing product lines that are organic.

Consumers are opting for functional foods that offer probiotics that build body immunity. Hence, key players are investing in research and developmental activities to come up with ingredients that offer multiple health benefits to customers.

Key Takeaways from Market Study

• North America packaged food market is estimated to be valued at US$ 744 Bn in 2022 and register a CAGR of 4.9% in the forecast period
• Latin America and Oceania are expected to account for 4.5% and 5.3% of demand share in packaged food market, respectively, in 2022.
• Europe processed food market is expected to reach US$ at 682 Bn by the end of 2032
• By product type, the baby and infant’s foot holds the highest market share in the packaged food marker
• The meat and poultry segment is expected to have a high growth rate at a CAGR of 5.5% over the assessment period

“Key players of packaged food products are investing heavily in research and development activities to offer new product lines that are plant-based, dairy free, vegan and fulfil nutritional requirements of consumers.” says a Future Market Insights analyst.

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Competitive Landscape

Key manufacturers have invested substantially to get deeper insight into shifts in consumer preferences and adapt their products accordingly to suit their requirements. Mergers and alliances have been a prominent growth strategy practised by companies planning to extend their market presence in the global packaged food market.

• Nestle and Starbucks have unveiled new products in their Starbucks at home range. It includes Cold brew Concentrate, Fresh Brew coffee and lends with essential vitamins and turmeric.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global reduced fat butter market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Preference for Naturally Sourced Food Products to Boost Packaged Food Market

North America is expected to be the leading region in the global packaged food market, opines FMI. Growing inclination towards naturally sourced food products is expected to propel the demand for packaged food in the U.S.

High concentration of manufacturing plants and easy availability of innovative packaged products is positively impacting the sales of packaged products. As per FMI, the U.S. packaged food is expected to reach a value of US$ 632 Bn in 2022 which is approximately 24.3% of the global packaged food.

Why is India Considered a Promising Market for Packaged Food?

Growing Consumption of Pre-Cooked Meals to Fuel Packaged Food Products Sales in India

Asia Pacific is expected to be the most remunerative market for packaged food industry due to increase in demand for convenient and pre-cooked meals. Hence, manufacturers are focusing on offering quality food products suited to local tastes. As per FMI, the India packaged food market is expected to account for US$ 289 Bn in 2022 which is approximately 18% of the global packaged food market.

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Market Segments Covered In Packaged Food Market Analysis

By Product Type, Packaged Food is Segmented as:

• Baby and Infant Foods
• Dairy Products
• Confectionary
• Bakery and Snacks
• Meat and Poultry
• Ready-To-Eat Meals
• Alcoholic Beverage
• Non-Alcoholic Beverage

By Packaging, Packaged Food Market is Segmented as:

• Jugs
• Packets
• Bottles
• Bags
• Bowls
• Boxes
• Cans
• Cartons
• Crates

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

1. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

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Explore FMI’s related ongoing Coverage on Food and Beverage Domain

Frozen Food Market Size: The global frozen food market is anticipated to be valued at US$ 314,285 Million in 2022, forecast to grow at a CAGR of 6.7% to be valued at US$ 602,257 Million from 2022 to 2032.

Reduced Salt Packaged Foods Market Share: The net worth of the market share of reduced salt packaged foods is predicted to grow from US$ 124.12 billion in 2023

Convenience Food Market Demand: The global demand for convenience food is anticipated to rise at a CAGR of 7%. The market revenue is likely to be valued at US$ 552.8 Million in 2022, and exhibit a revenue growth of US$ 1,086.425 Million by 2032.

Ready-to-Eat Food Market Growth: Ready-to-Eat consumption is expected to grow at a CAGR of around 7.7% during the period 2022-2032.

Dinner Ready-to-Eat (RTE) Food Market Forecast: The global dinner ready-to-eat food market is anticipated to reach a market valuation of USD 174.8 billion by the year 2022, grow at a CAGR of 5.8% from 2022 to 2032

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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