Overview Pasta Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Some of the major driving factors include hectic lifestyles, changing tastes and preferences of consumers, product innovations and aggressive marketing by manufacturers.
IMARC Group’s latest report, titled “Pasta Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global pasta market reached a value of more than US$ 11 Billion in 2017, growing at a CAGR of nearly 4% during 2010-2017. Originating in Italy, pasta today represents a highly popular food product across the world. The composition of pasta may vary from country to country depending upon the regional tastes and preferences. It is generally made from unleavened dough which is prepared with wheat durum flour, water and other ingredients such as eggs, rice and spices. Pasta is available in a number of different forms with the most popular being spaghetti, penne and fusilli. It can be served in soups or stews; mixed with sauces, vegetables, meat and garnished with seasonings; baked or fried, or served cold.
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Highlights of the Global Pasta Market:
Hectic lifestyles along with the influence of western culinary traditions remain the primary growth driving factors.
On the basis of type, dried pasta accounts for the majority of the market share.
Europe holds the majority of the global share, representing the largest market.
Owing to hectic lifestyles, a global shift has been witnessed towards the consumption of convenient foods like pasta. The changing tastes and preferences of the consumers on account of western influence and urbanisation in the developing regions have been contributing to the market growth. Further, product innovations such as introduction of vegan pasta, organic pasta and gluten-free pasta have been able to attract a larger consumer-base. Manufacturers have also been promoting pasta with added nutrients and natural additives to appeal to the health-conscious consumers. According to the report, the market is further expected to reach a value of more than US$ 14 Billion by 2023.
The market has been segmented on the basis of product type. Currently, dried pasta accounts for the majority of the global market share. On the basis of distribution channels, supermarkets dominate the market. Other major distribution channels include hypermarkets, discounters, independent small retailers and online. Region-wise, Europe represents the leading market, accounting for nearly a half of the total global share. Some of the other major markets include North America, Asia, Latin America and Middle East & Africa. Some of the key players operating in the market are Barilla Holding, Grupo Ebro Puleva, Nestle, DeCecco and Makfa.
Full Toc Report: https://www.imarcgroup.com/pasta-market
The report has examined the global pasta market on the basis of:
Independent small retailers
Middle East & Africa
Grupo Ebro Puleva
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