One
of the major drivers for the global
packaged
food
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.
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Packaged
food is no longer the preserve of developed regions. Companies in the
global packaged food market are now gaining nearly as much revenue
from developing economies as they are from developed ones. This
points toward an inherent change that has altered the very character
of the global packaged food market. Companies are now courting
success by being present in high volume markets where exposure to
global food habits is prompting a multitude of changes in consumer
behavior. There are several factors fuelling the global packaged food
market but the most important ones are: the convenience and hygiene
offered by packaged food, competitive prices of packaged food items,
and an explosion in the variety of packaged food items sold on the
market.
The
report on the global packaged food market takes each important
dynamic and weighs it against a set of standard parameters to
understand the impact that that dynamic will have on the market’s
future (between 2012 and 2018). For the purpose of the study, the
global packaged food market has been segmented on the basis of
product type and geography. By product type, the global packaged food
market is composed of bakery products, confectionery, dairy products,
ice cream, snack bars, sweet and savory snacks, ready meals, pasta,
meal replacement products, soup, canned food, dried food, noodles,
chilled food, frozen food, sauces and dressings, condiments, oils and
fats, spreads, and baby food.
By
geography, the market is segmented into North America, Europe, Asia
Pacific, and Rest of the World.
Overview
of the Global Packaged Food Market
Packaged
food constitutes a billion-dollar market. Its growth in the future
will be hinged on the spiraling demand for food in general as the
world sees more mouths to feed. Alongside this very impactful growth
driver is the need for convenience, which is dictated by increasingly
demanding lifestyles that leave consumers with less time for cooking
from scratch. Packaged food that can be consumed on-the-go is a huge
trend that companies stand to capitalize by identifying the needs and
tastes of consumers in different regions.
Although
the packaged food industry has benefited from the presence of large
conglomerates such as Nestle, Kraft Foods, Heinz, and ConAgra Foods,
Inc., they have not been able to fully assert their supremacy in many
emerging regional markets. The reason for this is the many local
brands that vie for a share of the packaged
food market in virtually every major country. This has prompted
global giants to consolidate their position and stake a claim to a
larger share of the market through partnerships and mergers. The
Kraft Heinz Company, formed consequent to a merger between American
food giants Kraft Food and Heinz, is one such example.
North
America has traditionally been the largest market for packaged food
globally and remains firmly in this position. However, developing
markets could soon outshine the developed markets. The demand for
packaged baby food is rising remarkably and this segment is expected
to grow faster than any other in the global packaged food market.
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.
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