Packaged Food Market by Product Type (Bakery & Confectionery, Dairy Products, Frozen Foods), Distribution Channel (Offline, Online) - Global Forecast 2024-2030

Packaged Food Market by Product Type (Bakery & Confectionery, Dairy Products, Frozen Foods), Distribution Channel (Offline, Online) - Global Forecast 2024-2030

The Packaged Food Market size was estimated at USD 1.73 trillion in 2023 and expected to reach USD 1.82 trillion in 2024, at a CAGR 5.59% to reach USD 2.53 trillion by 2030.

Packaged food refers to food items that have been prepared, processed, and packaged in a manufacturing facility to be sold in stores. These products are typically ready for consumption as is or require minimal preparation by the consumer. This category includes a wide range of products, such as canned vegetables, frozen dinners, snacks, beverages, and cereals. Key drivers for the packaged food market expansion include the convenience and extended shelf life of packaged foods, heightened health consciousness among consumers seeking organic options, urban lifestyle advancements boosting supermarket growth, and innovations in food preservation and packaging technology. Furthermore, increased disposable income and economic stability significantly shape consumer preferences and purchasing power. Despite robust growth prospects, the market faces challenges such as health risks associated with preservatives and high sodium content in some packaged products and the environmental impacts of non-biodegradable packaging. Despite these challenges, the development of health-enhancing food items and the introduction of sustainable packaging solutions present new growth opportunities.

Regional Insights

The packaged food market globally is increasingly shaped by diverse consumer preferences, cultural influences, and technological advancements tailored to regional needs. In the Americas, the market is growing rapidly, with consumers prioritizing convenience alongside a demand for health-centric products such as organic, non-GMO, gluten-free, and plant-based options. Notably, these regions are witnessing significant investments in innovative product development and sustainable packaging technologies to enhance food preservation and reduce ecological footprints. Conversely, Europe's packaged food market showcases a preference for artisanal and heritage-based items, with substantial investments directed towards eco-friendly packaging and reducing the overall carbon footprint of food processing. The Asia-Pacific region, including dynamic economies such as China, Japan, and India, presents robust growth. Rapid urbanization and a burgeoning middle class catalyze demand for convenience foods in China and India, while Japan remains stringent on quality, emphasizing premium and health-oriented products. In the Middle East and Africa, consumer demand blends traditional dietary habits with modern economic influences. The demand for halal-certified products drives the market in the Middle East. Meanwhile, Africa focuses on improving food distribution channels to bolster accessibility and affordability.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Packaged Food Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing demand for convenience food, shelf-stable, high-quality, and nutritious food
Expansion of hotels, restaurants, and cafes across the world
Rising availability of packaged food products through online and e-commerce distribution channels

Market Restraints

Incidences of product recall of packaged food products

Market Opportunities

Advancements to improve the quality of packaged food and exploration of strategic advertising
Proliferation of eco-friendly and sustainable packaging

Market Challenges

Complexities associated with the packaging of food products

Market Segmentation Analysis

Product Type: Rising demand for frozen food for its convenience and longer shelf life
Distribution Channel: Growing popularity of online sales channels owing to user convenience and wide product availability

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Packaged Food Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Packaged Food Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Baldwin Richardson Foods Acquires Pennsauken Packaging Company

Baldwin Richardson Foods successfully acquired Pennsauken Packaging Company, a key player in the food packaging industry. This strategic acquisition enhanced Baldwin Richardson Foods' production capabilities and broadened its product offerings. This move marks a significant step in the company's growth strategy, aiming to fortify its market position and deliver innovative packaging technologies to a broader audience.

TCPL to Acquire Capital Foods and Organic India in a Joint Deal Valued at USD 70,000 Million

Tata Consumer Products Limited (TCPL) is poised to acquire Capital Foods and Organic India in a joint transaction, with both companies collectively valued at 70,000 million. This strategic move is part of TCPL's broader plan to expand its footprint in the fast-moving consumer goods sector. The acquisition aims to enhance TCPL's portfolio, tapping into the growing demand for packaged and organic foods in the Indian market.

Bikano Expands Its Reach with New Frozen Product Line in Global Markets

Bikano, an established Indian snack and packaged food brand, launched a new range of frozen products targeting international markets. This strategic move aims to cater to the dietary preferences of the Indian diaspora and other consumers seeking authentic Indian flavors. The initiative reflects Bikano's commitment to meeting global market demands while enhancing its international presence.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Packaged Food Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Packaged Food Market, highlighting leading vendors and their innovative profiles. These include Archer Daniels Midland Company, Arla Foods, Associated British Foods plc, BRF S.A., Bright Food (Group) Co., Ltd., Campbell Soup Company, Cargill, Incorporated, Chobani, LLC, Conagra Brands, Inc., Dairy Farmers of America., Danone, Ferrero Group, FrieslandCampina, General Mills, Inc., Grupo Bimbo, Hormel Foods Corporation, JBS S.A., Kellogg Company, Lactalis Group, Mars, Incorporated, McCain Foods Limited, Meiji Holdings Co., Ltd., Mondelēz International, Nestlé S.A., PepsiCo, Inc., Saputo Inc., Smithfield Foods, Inc., Suntory Beverage & Food Limited, The Coca-Cola Company, The Hershey Company, The Kraft Heinz Company, Tyson Foods, Inc., Unilever Group, and Wilmar International Limited.

Market Segmentation & Coverage

This research report categorizes the Packaged Food Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product Type
Bakery & Confectionery
Dairy Products
Frozen Foods
Ready Meals
Snack Foods
Distribution Channel
Offline
Online
Convenience Stores
Specialty Stores
Supermarkets & Hypermarkets
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year