Pasta Market Size 2019| Comprehensive Research Study, Industry Share, Significant Growth, Most Attractive Segment and Global Industry Analysis till 2023
“Pasta Market is expected to retain its dominance throughout the forecast period and will grow at a CAGR of 5.72%, and is Segmented by Source, Type, Distribution Channel, and Functionality”
Pune, India – March 15, 2019 /MarketersMedia/ —
Pasta is made up of flour and egg, unleavened dough, the ingredients of which may vary according to the region. The Global Pasta Market is expanding steadily and is set to capture a CAGR of 5.85% over the forecast period of 2017-2023, predicts Market Research Future (MRFR) in a detailed study.
Influenced by the western culture, the trend of consumption of pasta has become prevalent around the world which is a major factor driving the growth of the Global Pasta Market. Availability in different sizes and shapes, pasta is a healthy source of carbohydrate-rich food. Convenience is a key selling proposition for the global pasta market. Amidst hectic lifestyles, consumers are increasingly turning to easy-to-make food options which can augur the growth of the global pasta market. Various F&B companies have introduced instant pasta recipes which are highly consumed as a convenience food option.
Easy availability through various distribution channel and growing awareness regarding online channels has added to the demand for pasta products. Encouraged by the growing popularity of pasta, top kitchens around the world are experimenting with ingredients and shapes to thrill diners.
In addition, on-going R&D activities to optimize the production process to improve the sensory, digestive and nutritional characteristic of pasta has resulted in the development of pasta better varieties which can withstand physical stresses of cooking. Gluten-free pasta has been a boon for the growth of the global pasta market. A growing number of celiac patients across the globe have created a huge demand for gluten-free pasta products which has boosted the growth of the global pasta market.
Furthermore, variations in pasta-making technology which facilitates production of pasta with a high content of bioactive compounds and bran content have contributed significantly to the growth of the global pasta market. On the other hand, growing health-consciousness among consumers to cut down on carbohydrates might affect the growth of the global pasta market adversely.
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Competitive Landscape
Campbell Soup Company (U.S.), Ajinomoto Co., Inc. (Japan), ITC Limited (India), Capital Foods Limited (India), Nestlé SA (Switzerland), The Unilever Group (Knorr) (U.K.), and Nissin Foods Co., Ltd (Hong Kong) are the key players in the global pasta market.
Key Findings
• Store based segment is anticipated to account the maximum market share in the Global pasta market throughout the forecast period of 2017-2023.
• The spaghetti segment is projected to register the higher growth rate (5.77%) during the forecast period of 2017 to 2023.
• In Europe region Italy dominates the market, and is expected to grow at CAGR of 5.72%
Segmentation
The Global Pasta Market has been segmented based on Source, Type, Distribution Channel, and Functionality.
By Source : Whole Wheat, Rice, Maize, Chickpea, and Others.
By Type : Spaghetti Pasta, Penne Pasta, Fettuccine Pasta, Rotini Pasta, and Others.
By Distribution Channel : Store-Based and Non-Store Based.
By Functionality : Gluten-Free, Vegan and Organic.
Regional Analysis
By Region, the global pasta market has been segmented into North America, Asia Pacific, and the Rest of the World (RoW).
Europe is dominating the global pasta market an anticipated to expand at a CAGR of 5.72% over the forecast period. Consumption of pasta is indigenous to European culture which generates high demand for pasts.
APAC is expected to be the fastest growing market for pasta. The growing influence of western culture on the emerging nations of China, India, and Japan, growing urbanization, and the increasing popularity of convenience food items is driving the market in APAC. In addition, F&B companies in the region are introducing pasta products to tap the potential consumer base. Growing disposable income also works in favor of the market. The APAC market is expected to strike a CAGR of 6.22% over the forecast period.
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Target Audience
• Pasta manufacturers
• Raw material suppliers
• End users (food industry)
• Retailers and wholesalers
• E-commerce companies
• Traders, importers and exporters
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
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