Pasta Market Size, Share, Competitive Landscape, Trends, 2032
- Oct 16, 2024
- | 12
Report Overview:
The global pasta market size was valued at USD 68.35 billion in 2023 and is projected to grow from USD 71.42 billion in 2024 to USD 100.24 billion by 2032, exhibiting a CAGR of 5.47% during the forecast period of 2024-2032.
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, 2024-2032.”
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.)
Report Coverage:
The research report provides a detailed market analysis and focuses on key aspects such as competitive landscape, product types, raw material, and distribution channel. Besides this, it offers insights into market trends and highlights key industry developments. In addition to the abovementioned factors, the report encompasses several factors contributing to the market's growth in recent years.
Source: 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.
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.
Market Trends and Innovations:
The pasta market is constantly evolving, with manufacturers introducing new flavors, shapes, and ingredients to cater to changing consumer preferences. From artisanal pasta made with ancient grains to innovative plant-based options, there is a pasta variety for every palate. In addition, the rise of online shopping has made it easier than ever to access a wide range of pasta products from around the world.
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.
The Future Outlook of the Pasta Market: Trends & Growth
The pasta market has long been a staple of culinary tradition across the globe, but what does the future hold for this beloved food? As we venture into 2024 and beyond, several trends and innovations are shaping the future of the pasta industry. In this blog post, we will explore the key factors influencing the pasta market's growth, the rise of alternative pasta products, and how consumer preferences are evolving.
Current State of the Pasta Market
In recent years, the global pasta market has experienced a significant boom. Valued at approximately USD 73 billion in 2022, it is projected to grow at a CAGR of around 3.5% from 2023 to 2030. The rise in demand for convenient, ready-to-eat meals, the increasing popularity of Italian cuisine, and the growing health-conscious consumer base are all contributing to this growth.
Key Factors Influencing Growth
- Health Trends: As consumers become more health-conscious, there is a growing demand for whole grain, gluten-free, and high-protein pasta options. Brands are innovating to create healthier versions of traditional pasta, tapping into the wellness trend.
- Convenience: The fast-paced lifestyle of modern consumers has led to a surge in demand for convenient meal solutions. Pasta fits perfectly into this niche, with products like microwaveable pasta cups and pre-cooked pasta gaining popularity.
- Sustainability: With an increasing focus on sustainability, many pasta manufacturers are exploring eco-friendly packaging and sourcing ingredients from sustainable farms. This shift not only appeals to environmentally conscious consumers but also sets brands apart in a competitive market.
Notable Industry Development:
- February 2023 – Nuovo Pasta Production, one of the leading artisan pasta companies, announced the launch of its new plant-based product range, including a ravioli collection and fresh organic pasta products, at the Natural Products Expo West 2023.
