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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Packaged Food Market Size
The global packaged food market reached approximately USD 2.43 trillion in 2023. The market is projected to grow at a CAGR of 5.2% between 2024 and 2032, reaching a value of around USD 3.85 trillion by 2032.
Key Trends in the Market
Packaged food is a term for food items that have undergone processing, preparation, and packaging before reaching consumers. These food products are typically sold in sealed containers, boxes, cans, pouches, or other forms of packaging designed to preserve their quality, safety, and shelf-life. These are convenience foods that are typically ready-to-eat or require minimal preparation.
- The global packaged food market growth is significantly influenced by the increasing health consciousness. This trend is being driven by the rising demand for packaged foods that are nutritious, organic, and free from artificial additives, preservatives, and excessive sugar or salt. Consumers are shifting towards such products owing to the growing awareness of the link between diet and health, as well as concerns about obesity and related health issues.
- The consumption of packaged foods is expected to be high during the forecast period due to the increasingly busy lifestyle of people. The global packaged food market demand can be positively influenced by consumers seeking products that require minimal preparation time without compromising on taste and nutritional value.
- One of the major global packaged food market trends is the rapid expansion of e-commerce platforms. The sales of packaged foods from such platforms are likely to be high during the forecast period owing to the ease of ordering online and the availability of a wide range of products. Furthermore, reviews about the products also allow consumers to make better decisions when shopping, which further drives this trend.
Packaged Food Market Report Snapshots
Packaged Food Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 2.43 trillion.
The market is projected to grow at a CAGR of 5.2% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 3.85 trillion by 2032.
The market is driven by the increasing health consciousness among people and the busy lifestyle of the working population.
The growing demand for ready-to-eat food products and the rapid growth of the e-commerce sector are propelling the development of the market.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different product types are breakfast cereals, dairy products, confectionery, meat, poultry and seafood, ready meals, bakery, snacks, and beverage, among others.
The key players in the market include Nestle S.A., Unilever Plc, Mars, Incorporated, Kellogg Company, General Mills Inc., Dr. August Oetker Nahrungsmittel KG, Tyson Foods, Inc., Conagra Brands, Inc., Hormel Foods, LLC, and McCain Foods Ltd., among others.
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