Global
Pasta Market: Overview
Originating
from Italy, pasta is now considered a global cuisine. Typically made
from unleavened dough of durum wheat flour blended with eggs or
water, it is available in the market in various shapes. To entice
consumers, small and large manufacturers are now experimenting with
different ingredients ranging from chickpea flour and rice flour to
tomato, spinach, carrot, or beet juices and different herbs and
spices for enhanced flavor and color.
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The
global market for pasta can be classified into spaghetti, macaroni,
and noodles. It can also be bifurcated into fresh and dried pasta.
While the former is prepared from a simple dough of eggs and flour,
the latter is made from finely ground semolina flour and water, sans
egg mostly. Fresh pasta has a comparatively shorter shelf life than
dried pasta and hence it is more expensive. Dried pasta generates
accounts for a dominant share vis-à-vis sales in the global market
for pasta. The overall global pasta market is expected to grow
moderately in the upcoming years.
Global
Pasta Market: Trends and Opportunities
By
dint of being an easy dish that can be prepared without much effort,
pastas have become popular worldwide. This, coupled with their longer
shelf life, has driven the growth of this market so far. Other
factors providing a tailwind to the market are the high nutritional
quotient of pastas and solid distribution channels such as
supermarkets/ hypermarkets and departmental stores. To further
improve margins, astute players are manufacturing pasta not just with
added flavors but also with added value such as more fiber, less
carbohydrate, gluten-free, and fortified. Some of the big ticket
companies have also gone on to announce the use of only natural
additives in their products. This recent trend to manufacture
healthier varieties of pasta is expected to boost growth
substantially in the coming years.
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However,
branded pasta companies – like many other staples – are finding
it tough to safeguard their market share from private labels,
especially in consolidated markets. Private labels steal a march with
more or less decent quality goods that are priced lower.
Global
Pasta Market: Regional Outlook
Geography-wise,
the global market for pasta has been segmented into Asia Pacific,
Europe, North America, and the Rest of the World. Among them, Europe
accounts for maximum percentage share in terms of consumption and
North America comes next. Markets in China and India, emerging
economies whose growth rate has surpassed that of all other countries
in the world, have proved to be tough ones to crack. Per capita sales
of pasta is low in India and China on account of lesser priced
regional staples such as rice and noodles. Besides the lack of
affordability and cultural preferences, the abundant availability of
pasta is another factor hobbling the growth of the Asian markets.
Going forward, however, tables might likely turn due to rising per
capita income in emerging economies, particularly India and China.
This, coupled with rising urbanization, is anticipated to push
substantial growth in the near future.
Companies
Mentioned in the Report
To
study the vendor landscape of the market, the report has profiled
companies such as American Italian Pasta Company, Armanino Foods of
Distinction Inc., Campbell Soup Company, Nissin Foods Holdings Co.,
Ltd., Fiori-Bruna Pasta Products, ConAgra Foods, Inc., Strom Products
Ltd., and General Mills.
