Global Packaged Food Market Benefits from Increased Demand in Developing Economies

Transparency Market Research has compiled a large amount of data on the food and beverages industry. One such report, titled “Packaged Food Market - Global Industry Size, Share, Trends, Analysis, And Forecasts 2012 – 2018,” comprises a description of the key market forces and trends.

One of the major drivers for the global packaged foods market is the proliferation of packaged foods in developing economies. Packaged foods have long since been a major component in the food and beverage industry in developed nations. But over the recent past, global players have been generating nearly as much revenue from developing economies as they have from developed ones. This is also a part of one of the main trends in the global packaged foods market: distributing high volumes of packaged foods in regions that are showing a higher rate of adoption of western cultures.

Packaged foods present many advantages, including increased hygiene standards, longer shelf life of foods, and competitive pricing coupled with a large number of global as well as regional players that have created a vast variety of packaged foods in multiple countries.

Another driver for the global packaged foods market is the increasing density of population across the world. This translates to a higher number of consumers who are looking for convenient foods or foods that can be carried with them on the go. With an increasing number of consumers across the world who consider convenience a major priority in food consumption, companies are ramping up their production rates to keep up with the surging demand.

The global packaged foods market is segmented on the basis of product type and geography. In terms of product type, this market can be divided into baby food, spreads, oils and fats, condiments, sauces and dressings, frozen foods, chilled foods, dried foods, canned foods, soups, meal replacement products, ready meals, sweet and savory snacks, ice cream, dairy products, confectionaries, and bakery products.

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From a geographical perspective, the global packaged foods market has consistently been dominated by North America, owing to a fairly high demand for convenience foods. The future of the market, as mentioned above, lies in developing economies that are ready to incorporate goods that are relatively more expensive than local products, owing to a higher amount of disposable income per individual.

Most of the major players in the global packaged foods market face a similar problem when it comes to competing with regional players. The strong presence of regional players in developing economies makes it difficult for global players to charge more for their product, in comparison to local sellers.

The key players in the global packaged foods market are Unilever Group, Cadbury Schweppes Plc., Perfetti Van Melle Group, Wrigley Jr Co, Lotte Group, The Kraft Heinz Company, and Kraft Food.