Global Packaged Food Market
Food And Beverages

How Will Packaged Food Market Grow Through 2024-2033?

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


The Business Research Company’s Packaged Food Global Market Report 2024 offers crucial insights into the packaged food market help businesses analyse and build stronger strategies.


The packaged food market has witnessed robust growth in recent years, driven by various factors shaping consumer behavior and industry dynamics. Let’s delve into the key growth drivers, market projections, and emerging trends in this dynamic sector.


Market Size and Growth Projections

  • The packaged food market is on an upward trajectory, expanding from $2939.88 billion in 2023 to $3119.12 billion in 2024, with a CAGR of 6.1%.
  • Projections indicate continued strong growth, with the market expected to reach $3972.73 billion by 2028, growing at a CAGR of 6.2%.


Factors Driving Growth

  • Consumer preferences: Changing consumer lifestyles and preferences towards convenience and on-the-go options are driving the demand for packaged food products.
  • Globalization: Increased globalization has facilitated the availability of diverse food options, contributing to market growth.
  • Health and wellness trends: Growing health consciousness among consumers is fueling demand for healthier packaged food alternatives.
  • Marketing and advertising: Effective marketing strategies and advertising campaigns play a pivotal role in influencing consumer purchasing decisions.
  • Economic factors: Economic stability and rising disposable incomes are supporting the growth of the packaged food market.


The Rise of Snacks and Quick Lifestyles

  • Snack popularity: The rising popularity of snacks, favored for their convenience and variety, is driving market growth.
  • Quick lifestyle impact: Busy lifestyles prompt consumers to opt for convenient snack options, boosting demand for packaged food products.
  • Industry insights: Data from the National Confectioners Association reveals a significant increase in snack revenues, indicating a strong market demand.
  • Examples: Notable companies in the packaged food market include General Mills Inc., Tyson Foods Inc., Conagra Brands Inc., and Nestle SA.


Innovative Sustainable Packaging Solutions

  • Sustainability focus: Companies are increasingly adopting sustainable packaging solutions to address environmental concerns.
  • Technological advancements: Innovative packaging technologies, such as Koehler NexPure OGR, offer sustainable alternatives to traditional packaging materials.
  • Benefits: Sustainable packaging enhances food safety, shelf life, and ecological sustainability, aligning with consumer preferences for eco-friendly products.


Read The Full Packaged Food Market Report Here:


Hershey’s Expansion through Acquisition

  • Strategic acquisition: The Hershey Company’s acquisition of Dot’s Pretzels and Pretzels Inc. for $1.2 billion expands its snacking portfolio.
  • Product offerings: Dot’s Pretzels and Pretzels Inc. bring seasoned pretzels and packaged snacks to Hershey’s diverse product lineup.
  • Market impact: The acquisition positions Hershey as a key player in the snacking sector, catering to evolving consumer preferences.


Market Segmentation

  • Type: Dairy Products, Confectionery, Packaged Products, Bakery and Snack, Meat, Poultry and Seafood, Ready Meals, Other Types
  • Material: Glass, Metal, Paper, Plastics, Other Materials
  • Packaging: Jugs, Packets, Bottles, Bags, Bowls, Boxes, Cans, Cartons, Crates
  • Sales Channel: Supermarkets or Hypermarkets, Specialty Stores, Grocery Stores, Online Stores, Other Sales Channels


Regional Insights

  • North America: Emerged as the largest region in the packaged food market in 2023, reflecting the region’s significant market share and consumer demand.

In conclusion, the packaged food market continues to thrive, driven by evolving consumer preferences, technological innovations, and strategic industry initiatives. As companies adapt to emerging trends and invest in sustainable practices, the market is poised for sustained growth and innovation in the years to come.

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The Packaged Food Global Market Report 2024  provides a comprehensive outlook of the packaged food market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The packaged food market forecast offers a thorough analysis on packaged food market size, packaged food market share, prominent players and their strategies.


The Table Of Content For The Packaged Food Market Include:
1. Packaged Food Market Executive Summary
2. Packaged Food Market Segments
3. Packaged Food Market Size And Packaged Food Market Growth Rate
4. Key Packaged Food Market Trends
5. Major Packaged Food Market Drivers
25. Key Mergers And Acquisitions In The Packaged Food Market
26. Top Packaged Food Companies
27. Packaged Food Market Opportunities And Strategies
28. Packaged Food Market, Conclusions And Recommendations
29. Appendix


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