Packaged Food Market Forecasts to 2030 – Global Analysis By Product Type (Dairy Products, Confectionery, Beverages, Bakery Products, Snacks, Meat, Poultry and Seafood, Breakfast Cereals, Ready-to-Eat Meals and Other Product Types), Packaging Type, Distrib

Packaged Food Market Forecasts to 2030 – Global Analysis By Product Type (Dairy Products, Confectionery, Beverages, Bakery Products, Snacks, Meat, Poultry and Seafood, Breakfast Cereals, Ready-to-Eat Meals and Other Product Types), Packaging Type, Distribution Channel and By Geography

According to Stratistics MRC, the Global Packaged Food Market is accounted for $3,178.3 billion in 2024 and is expected to reach $5,015.7 billion by 2030, growing at a CAGR of 7.9% during the forecast period. Packaged foods are food products that are pre-prepared, portioned, and sealed in containers or packaging to ensure freshness, convenience, and extended shelf life. These products can include ready-to-eat meals, snacks, beverages, canned goods, and frozen foods. Packaged food is designed for easy transport, storage, and consumption, catering to the modern consumer's need for quick and accessible meal solutions while maintaining safety and quality standards.

According to Eurostat, in 2020, the food and beverage manufacturing industry accounted for 14.8% of the total manufacturing turnover in the European Union.

Market Dynamics:

Driver:

Rapid urbanization

Rapid urbanization is a key driver for the packaged food market. As populations shift to urban areas, lifestyles become faster-paced, leading to increased demand for convenient, ready-to-eat food options. Urban consumers often have higher disposable incomes and less time for meal preparation, making packaged foods an attractive choice. Urbanization also brings improved retail infrastructure and cold chain logistics, facilitating the distribution of a wider variety of packaged food products. This trend is particularly significant in developing countries, where urbanization is occurring at a rapid pace.

Restraint:

Growing health concerns

Consumers are becoming increasingly aware of the health implications of processed foods, often high in sugar, salt, and artificial additives. This awareness is leading to a shift towards fresher, less processed options. Health-conscious consumers are scrutinizing labels and seeking products with natural ingredients, lower calorie counts, and added nutritional benefits. This trend is pushing manufacturers to reformulate products and develop healthier alternatives, which can be costly and challenging.

Opportunity:

Rise of online shopping platforms

The rise of online shopping platforms presents a significant opportunity for the packaged food market. E-commerce allows food manufacturers to reach a broader consumer base, bypassing traditional retail constraints. Online platforms enable detailed product information, customer reviews, and personalized recommendations, enhancing the shopping experience. The convenience of home delivery appeals to busy consumers, particularly in urban areas. For packaged food companies, e-commerce offers opportunities for direct-to-consumer sales, data collection on consumer preferences, and the ability to quickly test and launch new products.

Threat:

Presence of counterfeit packaged food products

Counterfeit products not only lead to revenue losses for legitimate manufacturers but also pose serious health risks to consumers. These fake products often use substandard ingredients and may not adhere to safety and hygiene standards. The proliferation of e-commerce has made it easier for counterfeiters to reach consumers, complicating detection and enforcement effort. This threat can damage brand reputation and erode consumer trust in packaged foods.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the packaged food market. Initial panic buying led to surges in demand for shelf-stable and frozen foods. Long-term shifts included increased home cooking and focus on health and immunity-boosting products. Supply chain disruptions affected production and distribution. The pandemic accelerated the adoption of e-commerce for grocery shopping, potentially reshaping future distribution channels for packaged foods.

The supermarkets and hypermarkets segment is expected to be the largest during the forecast period

The supermarkets and hypermarkets segment is expected to maintain their dominance in the packaged food market due to their wide product assortment, competitive pricing, and convenience. These retail formats offer consumers a one-stop shopping experience, with a vast array of packaged food options under one roof. They also provide opportunities for product discovery and impulse purchases. Supermarkets and hypermarkets often have strong relationships with food manufacturers, enabling them to offer exclusive products and promotions. Their established supply chains and storage facilities allow for the efficient distribution of packaged foods, including perishable items.

The ready-to-eat meals segment is expected to have the highest CAGR during the forecast period

The ready-to-eat meals segment is experiencing rapid growth due to changing lifestyles and increasing demand for convenience. These products cater to busy consumers seeking quick, easy meal solutions without compromising on taste or quality. Technological advancements in food processing and packaging have improved the shelf life and nutritional value of ready-to-eat meals, making them more appealing to health-conscious consumers. The segment is also benefiting from innovations in flavors and cuisines, offering a wider variety of options.

Region with largest share:

North America's dominance in the packaged food market is attributed to several factors. The region has a well-established food processing industry, advanced retail infrastructure, and high consumer spending power. American consumers have a long-standing familiarity with packaged foods, driven by busy lifestyles and a culture of convenience. The region is also at the forefront of food innovation, with companies constantly introducing new products to meet evolving consumer preferences, including health-conscious and premium options. Strong marketing and branding efforts, coupled with efficient distribution networks, further solidify North America's leading position in the global packaged food market.

Region with highest CAGR:

The Asia Pacific region is experiencing the highest growth in the packaged food market owing to rapid urbanization, rising disposable incomes, and changing dietary habits, which are driving demand for convenient, packaged food options. The region's large and growing population provides a vast consumer base. The increasing westernization of diets, particularly in urban areas, is boosting consumption of packaged snacks and ready-to-eat meals. Improved retail infrastructure and cold chain logistics are expanding the reach of packaged foods. Additionally, local and international food companies are investing heavily in product development and marketing to cater to diverse regional tastes and preferences.

Key players in the market

Some of the key players in Packaged Food market include Nestlé S.A., PepsiCo, Inc., The Coca-Cola Company, Mondelez International, Inc., The Kraft Heinz Company, General Mills, Inc., Kellogg Company, Mars, Incorporated, Danone S.A., Unilever PLC, Tyson Foods, Inc., ConAgra Brands, Inc., Grupo Bimbo S.A.B. de C.V., Associated British Foods plc, The J.M. Smucker Company, The Hershey Company, Ferrero Group, and ITC Limited.

Key Developments:

In January 2024, Tyson Foods, Inc. has opened a new $355 million food production facility in Bowling Green, Kentucky, to support an expansion of its bacon production capabilities. The 400,000-square-foot plant is expected to produce two million pounds a week of premium quality Jimmy Dean® and Wright® Brand bacon retail products and bacon used in foodservice, representing over $1 billion in sales. The facility will create nearly 450 new jobs and is designed with advanced automation and safety measures. Tyson Foods is aiming to capitalize on the growing market for bacon and lead innovation in the category.

In November 2023, Tyson Foods has officially opened a new $300 million fully-cooked food production facility in Danville, Virginia, delivering on its strategy of accelerating long-term growth, operating as efficiently as possible and investing in its poultry business. It is one of the company’s most-automated plants to date, marking the deployment of innovation pilots and prototypes at scale.

In January 2022, Mondelēz International, Inc. announced that it has completed the acquisition of Chipita Global S.A., a high-growth leader in the Central and Eastern European croissants and baked snacks category. The acquisition marks an exciting milestone in the Company’s strategic plan, focused on accelerating growth in core snacking adjacencies, while continuing to expand its footprint in key markets.

Product Types Covered:
• Dairy Products
• Confectionery
• Beverages
• Bakery Products
• Snacks
• Meat, Poultry and Seafood
• Breakfast Cereals
• Ready-to-Eat Meals
• Other Product Types

Packaging Types Covered:
• Plastic Packaging
• Tetra Pak and Aseptic Packaging
• Metal Packaging
• Glass Packaging
• Paper and Paperboard Packaging
• Other Packaging Types

Distribution Channels Covered:
• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail Stores
• Vending Machines
• Food Service

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements