Packaged Food Global Market 2024 To Reach $3972.73 Billion By 2028 At Rate Of 6.2%

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UNITED KINGDOM, September 25, 2024 /EINPresswire.com/ -- The packaged food market has experienced robust growth in recent years, expanding from $2939.88 billion in 2023 to $3119.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to consumer preferences, globalization, health and wellness trends, marketing and advertising, economic factors.

What Is The Estimated Market Size Of The Global Packaged Food Market And Its Annual Growth Rate?
The packaged food market is projected to continue its strong growth, reaching $3972.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to sustainable packaging, e-commerce and online retailing, personalization and customization, health-conscious consumer base, global population growth.

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Growth Driver Of The Packaged Food Market
The rise in popularity of snacks and a quick lifestyle is expected to propel the growth of the packaged food market in the coming future. A snack is a smaller food serving that is often eaten between meals and is lighter than a meal. Snacks that are available in different packaging attract consumers and also enable easier transportation while promoting food safety and shelf life, as a result, the rising popularity of snacks and a quick lifestyle increases the demand for the packaged food market.

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Which Market Players Are Driving The Packaged Food Market Growth?
Key players in the tem market include General Mills Inc., Tyson Foods Inc., Conagra Brands Inc., JBS SA, Nestle SA, Hormel Foods Corporation, Maple Leaf Foods Inc., The Kraft Heinz Company, Smithfield Foods Inc., Kellogg Company, PepsiCo Inc., Mars Incorporated, WH Group Limited, The Hershey Company, Andros Group, Histon Sweets Spreads Ltd., The Coca-Cola Company, Danone SA, Mondelz Global LLC, Unilever PLC, Gehl Foods LLC, B & G Foods Inc., Frito-Lay Inc., Mann Packing Co. Inc., Bonduelle Group, The Keebler Company, McCain Foods Limited, Grupo Bimbo S.A.B. de C.V., Campbell Soup Company, Nomad Foods Limited, Monde Nissin Corporation.

What Are the Key Trends That Influence The Packaged Food Market Size?
Major companies operating in the market are focusing on developing innovative technologies such as succulencePB to drive revenues in their market. SucculencePB is a taste technology that enables producers to produce plant-based meat substitutes with improved flavor and moisture content.

How Is The Global Packaged Food Market Segmented?
1) By Type: Dairy Products, Confectionery, Packaged Products, Bakery And Snack, Meat, Poultry And Seafood, Ready Meals, Other Types
2) By Material: Glass, Metal, Paper, Plastics, Other Materials
3) By Packaging: Jugs, Packets, Bottles, Bags, Bowls, Boxes, Cans, Cartons, Crates
4) By Sales Channel: Supermarkets Or Hypermarkets, Specialty Stores, Grocery Stores, Online Stores, Other Sales Channels

Geographical Insights: North America Leading The Packaged Food Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Packaged Food Market Definition
Packaged food refers to foods that have had its complete surface wrapped to avoid direct interaction with the atmosphere, either through transparent or impenetrable wrapping. It helps to keep food longer and fresher.
The main types of packaged food are dairy products, confectionery, packaged products, bakery and snacks, meat, poultry and seafood, ready meals, and others. Dairy products are products made from milk, which has traditionally been a key nutrient source for individuals. The various materials include glass, metal, paper, plastics, and others with various packaging such as jugs, packets, bottles, bags, bowls, boxes, cans, cartons, and crates. These are sold through various sales channels such as supermarkets or hypermarkets, specialty stores, grocery stores, online stores, and others.

Packaged Food Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global packaged food market report covering trends, opportunities, strategies, and more
The Packaged Food Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on packaged food market size, packaged food market drivers and trends, packaged food market major players and packaged food market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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